Dr Brett Steenbarger discusses the importance of unique trading ideas, increasing creativity, the challenges of daytrading and tips to overcoming them.
Topics discussed
- Three important components of successful traders
- Why the traditional rules of trading need to be updated
- Why traders get stuck in static thinking and need to be more like entreprenuers
- The two different types of trading brains and how understand which we are can improve our results
- How creativity can be used in the strategy research process
- Why we come up with ideas at seemingly random times and how that can be harnessed to improve our trading
- The two stages of creativity and how traders are hurting their performance by neglecting the second stage
- How just immersing ourselves in the market without stepping back can be harming our performance
- Improving creativity through lifestyle
- Why unstructured free time away from the markets can improve your trading
- Techniques to turn creativity into a habit
- How Brett identified his strengths and used those to dictate his trading style
- The challenges of daytrading and how to approach them
- Analysing successful trades to improve performance
- Why we need to have something more important in your life than trading
PLUS listener questions on:
- Applications of diffusion indices
- Formalising edges and the impact of market regimes on edge performance
- How traders can follow their rules about stops and targets
- The psychological differences between systematic and discretionary trading
- The validity of Acceptance Commitment Therapy (ACT) in trading
- Handling drawdowns and turning it into a constructive experience
- How to move from retail trader to full-time/pro
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Disclaimer:
Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.