How to master trading psychology | Brett Steenbarger
ฝัง
- เผยแพร่เมื่อ 21 ธ.ค. 2024
- EP 065: How to master trading psychology, and introduce new best practises w/ Brett Steenbarger
For this episode, I interviewed a very special guest; Dr Brett Steenbarger (after many, many requests from listeners).
Brett is a very well known trading psychology coach, and has consulted to some of the biggest names in the industry. He’s also a respected author who has now published four books, some which have been recommended reading by previous guests on this podcast.
During our conversation, I asked Brett how to break bad trading habits and introduce new best practises, to explain why traders need to be adaptable in markets, plus how we should think about goal setting and measure progress. And of course, much more about how to enhance your performance as a trader.
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LINKS
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Trader Psychology begins at 13:00
thank you bro
great
Thanks 👍
Thanks !
Well👍
Anton Kreil (Ex Goldman Sachs trader) in one of his youtube videos dropped this idea i’ll never forget: “the path to knowledge starts at unconscious incompetence, then conscious incompetence, then conscious competence and lastly unconscious competence”
Love this
Nice play of words. What's the practical usefulness?
Jorg Brand whats your evidence?
Donald Pitt You decide if it has a use or not in your daily life.
@Jorg Brand I don't think thats sufficient evidence that he's a fake
My takeaway is that we don't need to get motivated. We need to build habits on our best practices. Using repetition. Thank you . This video is so helpful
putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. success depends on the actions or steps you take to achieve it.
venturing into the Bitcoin without an adequate orientation with a professional broker for accurate signals. you might lose all your hard-earned money
having professional mentor is also very important when it comes to trading, without proper mentorship, one trend to opt out of the market early enough. I do my investment with mrs Stacy Griffin
manager Stacy Griffin has brought me out of the wrenches to a better living through options, I encourage newbies to trade with her
@@philipastron4332 good how do I contact her then?
@@harrisdouglas7291 yes of course, link her up nd remember to share your experience with others
Great
General
1. Psychology / Systems Thinking / Strategy -- Plan
2. Van Tharp / Inventory Profiling / NLP
This channel is too legit to have only 10k subs. Keep up the legendary work.
+George Pare Jr. - thank you!
I agree, that's why it's good to see it's up to 60k now.
@@Tormentality 79K now.. slow and steady wins the race :)
90k now. Life is a marathon, not a sprint
92,717 subscribers now :)
I started developing HYPERTENSION a fear for the charts! Just approaching my laptop became like walking the GREEN MILE !!! Until took a month long break from the charts and STARTED ABSORBING PODCASTS LIKE THIS BECAME A GAMECHANGER FOR ME I.T.O DISCIPLINE AND IN IDENTIFYING AND APPLYING MY STRATEGY. I NOW ONLY TRADE 2-3 DAYS A WEEK KNOWING NOW THAT THE MARKETS WONT GO ANYWHERE. THX BRETT.
You ALL WILL SUCCEED IN LIFE
I learned to cut losses quick and to hold onto gains longer. So, i am able to cut losses quickly, but, I also dont want to overstay my welcome on a gain.
For me, I have lost more when I held on too long, and I have made way more when I took my profits and got out. No one can predict the future.
7:02...The average holding period for many of the traders was around 3 minutes... That's how u take profit quick and run to avoid any damage
Big future!!!
I hold less than 1 minute many times and have done well enough for me
just found those channel, BEST TRADING PODCAST I HAVE EVER HEARD!!
Since, I started trading with Mrs. Karis Mathew I made HUGE profits on my investments, her trading strategies are top notch with small commissions on her trades.
I also invest with Mrs Karis, she charges 20% commission on the profit made after each trading session and it is fair compared to the effort she puts in to make huge profits.
I saw the recommendation before but I didn't bother talking to her, in fact I keep losing it, I still don't understand how the crypto market works
As a first time investor I started trading with Mrs. Karis Mathew with only a thousand dollars. Within a few weeks of trading with her my portfolio value increased.
Yes it is true, you can only appreciate someone who tries to teach everyone how to invest and make profit in multiple ways.
I am also a subscriber of her signals and if I had to rate her accuracy, I would say 95%.
*looks up author on audible*
Yes! Finally one of your guests who has an audiobook!
*returns to interview and listens voraciously*
What book? Worth reading? Thx!!
This is still more relevant in 2019, thanks for the channel
Great video, trading come with a lot of benefits And I have just bought my first house through it. As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.
Congratulations 🍾
I will love to be your friend dear as well as sharing some ideas which you're benefiting.
That's fine, but it's not luck, it's about having good investment plans, especially negotiating with a trustworthy expert.
watching professional business videos and above all connecting with the right person that the digital world is full of: unreal people. I met some of them during my journey to success. I felt the same when I started, especially when you use a demo account, you may be winning, but when you put in real money you start losing. I understand it and I go through it all. I am very happy that I am now profitable.
I can relate to all you said because I am facing similar thing right now. Congratulations I wish you more success.
Hey, how good are your profits? I would like to get some ideas on how to operate, thanks.
Brett Steenbarger is a LEGEND
This channel provides a killer amount of value. Brilliant concept
+Choose Freedom, nice to hear this! Thank you.
That's why it takes time. Because u cant rely on motivation to be good at trading. With time u will develop good habits. It will be just what u do
Aaron Fitfield asks excellent questions here, getting great gems out of Brett 🙌
The stock market holds several benefits, it’s advisable for investors to be cautious while making their decisions. Understanding the stock market basics and do their research before investing to ensure profitable investment.
It's important for investors to have a clear strategy for managing their portfolios this year
I made a lot of wrong investments last year, would really like to invest in key stocks, I’m held back by the wrong investments I’ve made.
@AnonymousBuster Sunshine true, The stock market is a complicated place. Most investors make mistakes of not performing adequate research and investment analysis to find a potentially profitable stock, which leads to acquiring the wrong stocks and having a track record of trade losses.
@@admin3427 the stock market is riddled with uncertainty, getting profit independently requires patience and proper education on the market.
@@peytonmadeline3288 do you offer trading advice?
21:40
Basic ABCD THEME
Adapting to markets
Building on strengths
Cultivating Creativity
Developing best practices- processes
22:55 details of ABCD
31:15 how to form new habits
33:50 improve weaknesses
36:40 how Dow you know ur weekness
42:55 settings Goals
thank you for highlighting it bro
🎯 Key Takeaways for quick navigation:
00:32 🚦 *Cumplir reglas estrictas en el trading es crucial para evitar pérdidas significativas y mantener la consistencia.*
01:58 💰 *Preservar el capital es la tarea más importante para un trader, evitando riesgos excesivos.*
03:36 🤔 *Enfocarse en configuraciones de alta probabilidad mejora la rentabilidad y consistencia del trading.*
05:42 🛑 *Establecer reglas estrictas para cortar pérdidas es esencial y evita pérdidas significativas.*
07:31 📉 *La responsabilidad personal y evitar terquedad son clave para prevenir grandes pérdidas en el trading.*
08:12 💡 *Identificar y aprovechar configuraciones rentables permite aplicar un tamaño de posición significativo, maximizando las ganancias.*
Made with HARPA AI
Excellent !! There's so many flaky videos on youtube about trading, it's SO refreshing to find a channel that's TRULY about trading.
Nice work mate.
Subbed.
+arupian666, thank you sir! It means a lot.
I think people underestimate the importance of the psychology behind trading. Learning about Brett Steenbarger and what he says really helps me learn about myself. Thank you for this podcast.
Indeed valuable share. Thanks a lot. Keep going .
Wow. This is brilliant!
Thank You Guys !
i listened this 59minutes podcast for 4hours and i took notes and i learned so much.. Thank you chat with Traders for this amazing Content. The questions were spot on and the answers were great.. Thanks Brett steenbarger for the knowledge on psychology.
Me too
Excellent Presentation!☑️⭐ ⭐⭐⭐⭐
What an amazing interviewer
2024 currently down -$1050 but i know there will be a drawdown and prepared mentally and waiting throughout the NY session to be in profit so far it’s 10:13 AM and u already made $600+ this pair will keep on increasing that’s why i risk such a high percentage of my account.
Almost didn't give this interview a chance but am very glad I did. You won't find technical strategies or straight market advice instead you receive information on how to build a trading lifestyle. It's like improving fundamentals in your own life that directly affect your performance.
Awesome glad to find this channel from here. Thanks 🙏
only the ones who are really serious to learn how to be traders listen this tipe of channel...thank you so much for this contribution to my life.
@lucas l4ux me about 2 1/2 and it’s amazing how each week u learn how last week you were an idiot. Lol
Guys, this is absolute gold. Just picked up Brett's audio book, the daily trading coach
Hello Sir how's your trading now?
Great questions. Thanks for the video
Great Podcast. Thanks
I have to admit you ask great questions.
Thank you for this content.
This channel is gold. Aaron Fifield , you are a great host. I am literally feeling very lucky I found your channel. Thank you a thousand times.
The interviewer is really good. Nice set of questions.
Mr Green Bickmore is a good trader, his trading strategies are good and safe. I have made so much winnings trading with Mr Green Bickmore.
So true
Excellent once again, as always. Gold.
AMAZING channel!!!!
This is the first episode I've listened to and just wanted to say job well done. New sub here. ✌️
looking forward to listening to his book :) thanks
WOW WOW that was supper great show man i repeated listing it twice and repeated some parts for few times what smart question some times it can be the same guest but the begets change is the host grate job keep it up.
rgds
Wael AlAboud
+wn77wn, really pleased to hear you liked this episode with Brett, thanks!
The only thing I need to be more profitable in this business is psychology
Check out trading in the zone by mark douglas.
+1 (6 3 6) 4 2 5 - 2 1 6 2
what is the name of the book 3:11?
Great chat
Great interview !
The most useful interview about trading I have listened to.
One of the best sessiom combining evryrhing at bey
Great interview, very insightful. Trading is about passion for markets, not P&L. If all you think about is the money, your toast. The same can be said for any business venture.
I love to watch this episode again and again... Supreme episode..
this is the best trading psychology podcast on TH-cam. Many thanks for having this immense wealth of knowledge here.
Enable automatic subtitles in English please
Wow another great interview
I believe many traders fail for the same reason that investors fail in other asset classes. Trading and investing can be a profitable source of income, only if it's done the right way, and by the right way I mean trading on very good platform
Having a good platform and mentor, is a major key to succeed in the market. Getting a reliable broker now, is very difficult. Among all the platforms I've been on, non could be compared to Mr Raziel platform
Whether one trades bitcoin or any other asset class, the first step in achieving success is to create and follow a trading plan. "failing to plan is planning to fail" is an adage that holds true for any type of trading
That's so true. The successful trader works within a documented plan that includes risk management rules and specifies the expected return on investment (ROI). that's why I do my trading on Mr Dan Raziel, because all of these are ensured
+1 872201 8317 that’s his working WhatsApp line.
No matter what anyone says, trading forex is not a get rich scheme. Becoming proficient enough to accumulate profits is not a Sprint- it's a marathon. So I suggest you start trading the right way
Steenbarger books are awesome... I was stumbling for seweral years with the same psyco traps. His books showed me differend ways to work on my temper.
fantastic video, ive learnt a lot...
awesome episode! keep up the great work @chatwithtraders
+seizuristic, I'm pleased you liked it-much appreciated.
This was great, thank you!
Good work Aaron
thanks for sharing great stuff
keep it up.
Thanks!
What if you wereforced to trade because you don’t have an option, Is there a way to rechannel youre personality to conform with the full time trader habit?
It also a great video. This channel is very good.
58:00 is a nugget
Awesome show
This very helpful 👍 thanks!!!
Great great great video.thank you for sharing.
Great Podcast.
this is really good !!
thanks bro
This is one of your best interviews,good job keep up the good work mate!
I am so glad to see someone deal with the changing market as a factor to our changing success instead of just blaming our psychology for our losses/missteps. Brilliant interview
I just have to remember to not always blame it on the changing market.
@@sagemaster3408 Indeed, I mostly blame it on traps setups and market manipulatiion
Thank you so much! Great value !!!! Recommend everyone to watch it 😊🙏
awesome job!
new subscriber! thank you for your interviews they help a whole lot!
+Andy, welcome! Thanks for hitting subscribe.
i really like your show man.
+Dubsackjack, awesome - I appreciate it dude.
Damn, this is the best trader interview channel EVER! Every trader should subscribe by default....By far no other trader interview channel is even close. Thanks for all the information. Really Appreciate it!!
+Rich Dad, it's really encouraging to read this! Awesome to have you tuned in, thanks.
Wonder if Brett was at Upstate in Syracuse.
Great interview
Amazing questions and brilliant answers, excellent guys
thank you both for this wonderful interview, Brett explains in very clear, helpful and professional ways. my greatest pleasure to get to listen to him. with all blessings ....
Thanks for the great interview
Aaron fifield always ask the right questions my man is on point
is there a transcript for this interview?
+webreaver01, not at this stage...
+Chat With Traders ok. I'll just buy his book. This is an awesome interview since I struggle with trading especially in commodities.
+webreaver01, I know a few traders who've read Trading Psychology 2.0 and rave about. Hope it helps, and thanks for listening.
Phenomenal interview. Great questions. Great answers.
Great stuff! I would like to pick up the Doc's book now. I think he does a lot with SMB if im correct.
Great info...
I love it dude! I listen to these podcasts when I'm driving and It helps me a lot because driving is usually my 'alone time' which i believe is needed for traders in general. Keep it up!
+Johnathan Nguyen, good stuff man! Podcasts are a win for lengthy car rides.
Thanks for posting this...!
Please add english subtitles next time.
Excellent host
Thanks for the feedback...for more info /w/h/a/t/s/a/p/p +/1/8/0/2/2/5/5/1/0/3/5/
One of the best videos i've watched..
Wise words.. Cheers
Excellent conversation!!
It is important to remember that trading is a risky business and that mistakes cost money. The mistake you can make, is to risk more money than you can afford to lose.
Emily Kristen Another mistake people make when starting out with trading is not having an action plan that's clear enough. That’s why I always advise newbies to always seek help from experts.
I’m looking to start trading forex, which trader expert is good enough? I’d love to know, so that I don’t end up losing my money to trading.
Great video. I should add too.. "The only way to win in the markets is to think in probabilities" (Don't attach too much significance on one trade. As long as you have a proven strategy you have tested and came up with a plan..thinking in probabilities takes emotions out) very vital yet greatly overlooked concept. I heard that first from one of the finest trading psychologist "Mark Douglas" (May his soul Rest in Peace). who sadly i only got to know of his works some months ago. Probability thinking takes emotions off!
really got a lot out of this, i can play this tape while during my non-active time with trades on, and during my review periods for sure.. much much great stuff here..