Tuesday, May 29, 2007

Update on the Trader Coaching Project

I recently announced a Trader Coaching project on my Trader Performance page and on this blog. The idea was to select a single trader to coach--free of charge--for a month and then post the ongoing process and results to the blog, so that readers could learn from the experience.

The response to the project has been overwhelming, and I thank everyone who has volunteered. At this juncture I must stop accepting volunteers and spend my time responding to the many fine traders who have expressed interest. It's a highly diverse group, from beginners to pros, with many applicants coming from outside the U.S.

If I have not yet gotten back to you, please don't take this as an indication of a lack of interest. I did not plan for so many responses, and--given that I'm leaving town for two days to work with traders--I won't be making any selection until the weekend. I will personally respond to each trader who has expressed interest, however.

If the project proves valuable for all concerned, I'll certainly be willing to take on another trader as an educational project on the blog. Thanks again for your interest and support; I'm hopeful that this will be a unique and worthwhile experience.

Brett

2 comments:

Scott G said...

Very nice of you to do this Brett. If you can, please pick someone who is borderline neurotic and completely traumatized from outsized gains and losses so we can see how you fix them!

Your comment a week or so ago “my own, more informal, finding that high degrees of neuroticism, coupled with sensation-seeking and low conscientiousness, are associated with poor trading outcomes” hit me right between the eyes. Viewing myself (honestly as I can) under the lens of those three areas has shaken things up a bit.

I’d probably want to crawl into a hole if you ever one-on-one coached me Brett. You help us all so much. Keep up the good work and thanks for everything.

Scott

Brett Steenbarger, Ph.D. said...

Hi Scott,

I commend you for your honest, difficult look at yourself. That's the first step toward changing any set of patterns. Many times traders feel neurotic from those outsized ups and downs; the key to changing that is to make trading much more rule-governed and routine. If I have a chance to demonstrate that with a trader, I'd enjoy that. Those turnarounds are difficult, but not impossible!

Brett