The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist


Praise for The Daily Trading Coach

"A great book! Simply written, motivational with unique content that leads any trader, novice or experienced, along the path of self-coaching. This is by far Dr. Steenbarger's best book and a must-have addition to any trader's bookshelf. I'll certainly be recommending it to all my friends."
—Ray BarrosCEO, Ray Barros Trading Group

"Dr. Steenbarger has been helping traders help themselves for many years. Simply put, this book is a must-read for anyone who desires to achieve great success in the market."
—Charles E. KirkThe Kirk Report

"'Dr. Brett', as he is affectionately known by his blog readers, has assembled a practical guide to self coaching in this excellent book. The strategies he outlines are further enhanced with numerous resources and exercises for the reader to refer to and keep the principles fresh. I enthusiastically encourage anyone interested in bettering their trading and investing to read this book and keep it on their desk as a constant source of learning."
—Brian Shannon, www.alphatrends.netauthor of Technical Analysis Using Multiple Timeframes

"Dr. Brett has distilled his years of experience, as both a trader and a psychologist/coach, into the 101 practical lessons found in The Daily Trading Coach. Those lessons provide effective strategies for coping with the stumbling blocks that traders often face. This book should be a cornerstone of any serious trader's library."
—Michael Seneadzaequities trader and blogger at

Brett N. Steenbarger, PhD, is Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, New York. An active trader and author of the popular TraderFeed blog, Steenbarger coaches traders in hedge funds, proprietary trading groups, and investment bank settings. He is also the author of the Wiley titles Enhancing Trader Performance and The Psychology of Trading. Steenbarger received a BS from Duke University and a PhD in clinical psychology from the University of Kansas.




CHAPTER 1 Change: The Process and the Practice.

Lesson 1: Draw on Emotion to Become a Change Agent.

Lesson 2: Psychological Visibility and Your Relationship with Your Trading Coach.

Lesson 3: Make Friends with Your Weakness.

Lesson 4: Change Your Environment, Change Yourself.

Lesson 5: Transform Emotion by Trace-Formation.

Lesson 6: Find the Right Mirrors.

Lesson 7: Change Our Focus.

Lesson 8: Create Scripts for Life Change.

Lesson 9: How to Build Your Self-Confidence.

Lesson 10: Five Best Practices for Effecting and Sustaining Change.


CHAPTER 2 Stress and Distress: Creative Coping for Traders.

Lesson 11: Understanding Stress.

Lesson 12: Antidotes for Toxic Trading Assumptions.

Lesson 13: What Causes the Distress That Interferes with Trading Decisions?

Lesson 14: Keep a Psychological Journal.

Lesson 15: Pressing: When You Try Too Hard to Make Money.

Lesson 16: When You’re Ready to Hang It Up.

Lesson 17: What to Do When Fear Takes Over.

Lesson 18: Performance Anxiety: The Most Common Trading Problem.

Lesson 19: Square Pegs and Round Holes.

Lesson 20: Volatility of Markets and Volatility of Mood.


CHAPTER 3 Psychological Well-Being: Enhancing Trading Experience.

Lesson 21: The Importance of Feeling Good.

Lesson 22: Build Your Happiness.

Lesson 23: Get into the Zone.

Lesson 24: Trade with Energy.

Lesson 25: Intention and Greatness: Exercise the Brain through Play.

Lesson 26: Cultivate the Quiet Mind.

Lesson 27: Build Emotional Resilience.

Lesson 28: Integrity and Doing the Right Thing.

Lesson 29: Maximize Confidence and Stay with Your Trades.

Lesson 30: Coping—Turn Stress into Well-Being.


CHAPTER 4 Steps toward Self-Improvement: The Coaching Process.

Lesson 31: Self-Monitor by Keeping a Trading Journal.

Lesson 32: Recognize Your Patterns.

Lesson 33: Establish Costs and Benefits to Patterns.

Lesson 34: Set Effective Goals.

Lesson 35: Build on Your Best: Maintain a Solution Focus.

Lesson 36: Disrupt Old Problem Patterns.

Lesson 37: Build Your Consistency by Becoming Rule-Governed.

Lesson 38: Relapse and Repetition.

Lesson 39: Create a Safe Environment for Change.

Lesson 40: Use Imagery to Advance the Change Process.


CHAPTER 5 Breaking Old Patterns: Psychodynamic Frameworks for Self-Coaching.

Lesson 41: Psychodynamics: Escape the Gravity of Past Relationships.

Lesson 42: Crystallize Our Repetitive Patterns.

Lesson 43: Challenge Our Defenses.

Lesson 44: Once Again, with Feeling: Get Distance from Your Problem Patterns.

Lesson 45: Make the Most Out of Your Coaching Relationship.

Lesson 46: Find Positive Trading Relationships.

Lesson 47: Tolerate Discomfort.

Lesson 48: Master Transference.

Lesson 49: The Power of Discrepancy.

Lesson 50: Working Through.


CHAPTER 6 Remapping the Mind: Cognitive Approaches to Self-Coaching.

Lesson 51: Schemas of the Mind.

Lesson 52: Use Feeling to Understand Your Thinking.

Lesson 53: Learn from Your Worst Trades.

Lesson 54: Use a Journal to Restructure Our Thinking.

Lesson 55: Disrupt Negative Thought Patterns.

Lesson 56: Reframe Negative Thought Patterns.

Lesson 57: Use Intensive Guided Imagery to Change Thought Patterns.

Lesson 58: Challenge Negative Thought Patterns with the Cognitive Journal.

Lesson 59: Conduct Cognitive Experiments to Create Change.

Lesson 60: Build Positive Thinking.


CHAPTER 7 Learning New Action Patterns: Behavioral Approaches to Self-Coaching.

Lesson 61: Understand Your Contingencies.

Lesson 62: Identify Subtle Contingencies.

Lesson 63: Harness the Power of Social Learning.

Lesson 64: Shape Your Trading Behaviors.

Lesson 65: The Conditioning of Markets.

Lesson 66: The Power of Incompatibility.

Lesson 67: Build on Positive Associations.

Lesson 68: Exposure: A Powerful and Flexible Behavioral Method.

Lesson 69: Extend Exposure Work to Build Skills.

Lesson 70: A Behavioral Framework for Dealing with Worry.


CHAPTER 8 Coaching Your Trading Business.

Lesson 71: The Importance of Startup Capital.

Lesson 72: Plan Your Trading Business.

Lesson 73: Diversify Your Trading Business.

Lesson 74: Track Your Trading Results.

Lesson 75: Advanced Scorekeeping for Your Trading Business.

Lesson 76: Track the Correlations of Your Returns.

Lesson 77: Calibrate Your Risk and Reward.

Lesson 78: The Importance of Execution in Trading.

Lesson 79: Think in Themes—Generating Good Trading Ideas.

Lesson 80: Manage the Trade.


CHAPTER 9 Lessons from Trading Professionals: Resources and Perspectives on Self-Coaching.

Lesson 81: Leverage Core Competencies and Cultivate Creativity.

Lesson 82: I Alone Am Responsible.

Lesson 83: Cultivate Self-Awareness.

Lesson 84: Mentor Yourself for Success.

Lesson 85: Keep Detailed Records.

Lesson 86: Learn to Be Fallible.

Lesson 87: The Power of Research.

Lesson 88: Attitudes and Goals, the Building Blocks of Success.

Lesson 89: A View from the Trading Firms.

Lesson 90: Use Data to Improve Trading Performance.


CHAPTER 10 Looking for the Edge: Finding Historical Patterns in Markets.

Lesson 91: Use Historical Patterns in Trading.

Lesson 92: Frame Good Hypotheses with the Right Data.

Lesson 93: Excel Basics.

Lesson 94: Visualize Your Data.

Lesson 95: Create Your Independent and Dependent Variables.

Lesson 96: Conduct Your Historical Investigations.

Lesson 97: Code the Data.

Lesson 98: Examine Context.

Lesson 99: Filter Data.

Lesson 100: Make Use of Your Findings.



Lesson 101: Find Your Path.

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