Thursday, May 03, 2007

Sunday Morning Webinar: Submit Your Questions!

I recently mentioned that I will be doing a free, interactive two-hour Webinar on the topic of improving trading performance this Sunday morning at 7 AM CT. Here is the registration page; I'm pleased to see that we have over 170 participants signed up so far.

But here's your opportunity to help shape the Webinar: If you have specific questions about trading psychology, trading performance methods, or trading techniques, please submit them as comments to this blog post. I will do my best to address these during my presentation and/or during the interactive discussion following.

Once again, I want to thank Steven Buss for organizing this session. He's an active participant in the NeoTicker and TradeStation forums, and I greatly appreciate his dedication to trader development.

It'll be early, so bring your coffee! I look forward to seeing you on Sunday--

Brett

30 comments:

Ice said...

Thanks for doing a webinar early Sunday morning.

My biggest struggle as a trader is Discipline, Patience. This lead to over trading and not stepping away from the PC when you can feel your brains being "fried".
Any help you can give would be appreciated.

Ziad said...

Will the webinar be available on archive if we can't make it to the live one?

The Dude said...

One great thing to cover, IMO, would be entry points. Once we've identified a good stock (or in your case, futures), how do we pick the time to get into the trade when we're sitting and waiting? Watch a 1-min chart, 2-min, level 2 quotes, etc?

Usually stocks that go up at the open pull-back, and I usually look for buys there trying to time it.

Best,
Matt

Brett Steenbarger, Ph.D. said...

Hey Ice,

Very happy to address this concern. I'll have very specific exercises to suggest. Thanks for the idea--

Brett

Brett Steenbarger, Ph.D. said...

Hi Ziad,

Yes, Steve and I will be recording the session and I'll post the link shortly afterward. Thanks--

Brett

Brett Steenbarger, Ph.D. said...

Hey Matt,

That one's tough to answer, because it is *so* dependent on the trader's trading style, time frame, etc. I'll do my best to offer a general set of guidelines that I've found useful. Clearly, however, a breakout trader will enter differently from a countertrend trader, etc.

Thanks!

Brett

Maxy said...

I would love to spend some time talking about developing exit strategies. I think its the most overlooked element in trading. Any talk on this topic is greatly appreciated.

AnaTrader said...

Brett

Just for the record, I have registered and so have a few of my peers in Singapore, I believe, through publication of your free webinar in my own study group of BS (BarrosSwing).

May I just submit questions at CHAT following your presentation, without dialing in?

AnaTrader said...

Brett

I do have a question, after reading your latest book.

You mentioned Cognitive Therapy.

Question for Sunday Webinar:
How and why can we integrate a Cognitive journal into our Trading & Psychological journal?

Thanks
Ana

Simply Options Trader said...

Hi Dr Brett,
Thanks for scheduling it so that participants from Asia is able to take part. I've registered and looking forward to it!

David said...

Hi, Dr. Brett, do you prefer trading futures or stocks? Are there any aspects of trading stocks that you don't like? Eg, do like the 50% margin rule? Or do you prefer the greater leverage that's available with trading futures?

Ronald said...

Dear Dr. Brett,

What's your favorite time-frame for trading futures? From what I can tell it seems that you prefer day-trading. Have you tried other time-frames, such as swing and position trading?

I'm currently a position trader in stocks and I'm trying to transition to futures. I'm curious if position trading works with futures. As opposed to day-trading. Any thoughts?

Brett Steenbarger, Ph.D. said...

Hi Maxy,

Great idea; thanks for passing along. I'll be happy to share thoughts on stops--

Brett

Curtis said...

When trading with the pivots what do you look for in regards to testing or breaking the pivot?

Brett Steenbarger, Ph.D. said...

Hi AnaTrader,

Yes, I'll be taking questions by text as well after the presentation. Thanks--

Brett

Curtis said...

Also this might be a bit of the way but can you show us how given a trading example or pattern you would go about statistically testing that pattern? also anything on money management. :)

Brett Steenbarger, Ph.D. said...

Hi Curtis,

I'm hoping to do a future Webinar solely on the topic of analyzing historical patterns with Excel. Thanks for the interest--

Brett

Michelle said...

The two aspects of your writing that really appeal to me are:

1. Psychology/coaching--Using intentional training, implicit learning, brief therapy, solution focus, identifying disgust as a trigger to effect positive change, and the cultivation of awareness so one has the 'will' to act.

2. Mentoring via the encouragement of back-testing, historical analysis, and TICK readings/Money flow, i.e, identifying the footsteps of big institutional money.

I would like the seminar to be a refresher course for me and an introduction to the above for newbies to your blog.

Michelle B

High Probability Trader said...

I was wondering if you use PREM (program trades), and how you react to when they hit when trading ES. Also, I was wondering how the overseas financials markets could affect the liquidity seen in the US markets, specifically, how certain times of the day we see patterns, perhaps due to overseas money closing out position before a certain time of day (ie. reversals 1 hour before the close on strong trending days). Also, how do you analyze premarket volume on ES, and do you have a bias leading into the open based on the volume and price range seen during the after hours? Also, I know you track the 15min volume on ES, but do you compare this volume to the price range seen; moreover, do you compare the price range seen to the avg. volume seen during this time of day? Do you incorporate the COT reports into your daily/weekly analysis? Also, do you watch option volume on SPY, Q's, and IWM during the day, and if so, how does large volume on one side affect your trading?(ie. heavy puts bought during the first 15min, or heavy calls bought during the last 15min) I know I have many questions, don't expect answers on all of them, but these are some things I've been pondering lately.

Brett Steenbarger, Ph.D. said...

Hi Michelle,

Great idea; I will be very happy to offer an overview and extend some of those ideas. Thanks for the inspiration--

Brett

Brett Steenbarger, Ph.D. said...

Hi High Probability Trader,

Great questions. I don't do too much with PREM or with options. Some of the other areas I'll try to elaborate in the presentation. Thanks!

Brett

Rick said...

Dr. Brett,
thank you for offering a webinar. I would like your thoughts in helping me break thru the psychological barriers I've built regarding position size trading futures. I am consistently profitable but am unable to increase my size when market conditions warrant an increase. My win/loss ratio is excellent (all winners in April) but I think my fear of losing far outweighs my confidence in putting on size. My past performance shows my methodology is solid but my distaste for a losing trade stops me from using size.

I look forward to the webinar!

Rick

Ziad said...

I would like to hear your thoughts on how you time entries and place stops on fade trades during range bound days. Many times the day will be lacking any real volume or directional movement, but when you go to fade beyond some reference point such as previous value areas, pivots points, or chart highs/lows, the market seems to drift on up or down further instead of reverting back to the mean. So it's really a question of how u time your entry that i'm asking about.

Thanks,
Ziad

Brett Steenbarger, Ph.D. said...

Hi Rick,

Great topic, and one faced by many successful traders. I'll be happy to address. Thanks for the suggestion!

Brett

Brett Steenbarger, Ph.D. said...

Hi Ziad,

During truly slow, range-bound days I only trade the very earliest morning hours for a single move, usually back toward a median trading point (pivot level, VWAP). I'll (hopefully!) take a small piece out of the market on that move and that will be my day. I never trade afternoon hours on slow days. Just not my strength--

Brett

Kathy said...

My question is exactly the same as rick's. Which is:

thank you for offering a webinar. I would like your thoughts in helping me break thru the psychological barriers I've built regarding position size trading futures. I am consistently profitable but am unable to increase my size when market conditions warrant an increase. My win/loss ratio is excellent (all winners in April) but I think my fear of losing far outweighs my confidence in putting on size. My past performance shows my methodology is solid but my distaste for a losing trade stops me from using size.

Thanks

Brett Steenbarger, Ph.D. said...

Hi Rick and Bruce,

You mention raising size when market conditions warrant. I would argue that raising size should be a function of portfolio (account) size and conditions and not a function of market conditions. Trade a fixed fraction of your account size per position and you'll naturally get larger as you get more successful.

Brett

Ken said...

Yeah, I didn't care for the manner inb which you conducted and represented you so-called 'webninar'. You specifically stated and represented it as an 'interactive' presentation, when in fact it was not. You specifically represented it as a webinar, when it fact it was just a confernce call.

What a load of bs.

Well, since you get to approve all the comments that viewers make, and since this comment is not flattering to you, I will bet you pull it without posting it, since it poses a threat and calls your bs.

Expected more from you. Live and learn.

Brett Steenbarger, Ph.D. said...

Hi Ken,

I don't find your comment threatening in the least. In fact, I find it very helpful.

I am very new to Webinars, and your distinction between a conference call and a Webinar is obviously one that I was not sensitive to.

My goal was to enable people to ask questions during the session so that I could respond live to those questions. I also wanted to keep the session free for attendees and make it available at a time when traders around the world could participate.

I apologize if my description of the session was inaccurate and did not meet your expectations. Whether the content of the session was bs or helpful to traders, I'll let each attendee decide for themselves. But I will be more attentive to the format and description of future events. Thanks for the feedback--

Brett

geko said...

Dear Dr. Brett
Your web is definitely on the very top of internet trading information sources. So I was really excited by the idea of attending your webinar. Unfortunatelly the result was not what i expected so i would like to mention what i see as a problem.
1) "webinar". Now my idea of webinar is for example this http://www.interactivebrokers.com/en/general/education/priorWebinars.php?ib_entity=uk It means that when the webinar is about to start you click certain link and all necessary software that will allow you to see the pictures (if there are any) and hear the sound will be downloaded to my computer. And that is it.
2) "Free" Free for me mean that there are no additional or hidden costs - i dont have to pay any additional charges for software or connection.

From this point of view i obviously had a significant problem on sunday. Originally i thought that by dialling provided number the voice will be activated somehow in the software - it was very difficult for me to understand the idea that i am expected to make the phone call to US to hear the sound. With my operator it would cost me $50 to hear you. I am aware of the options like Skype out. But from some reasons i can not use this plus it is still pretty far from "free".

So from my point of view it was not free webinar but really just very expensive conference call. I do not mind you to organize paid events but i would like know in advance all terms and conditions so i can make my choice.

Conclusion:
there certainly was huge benefit for me as a trader in this event. I expected things to develop in a certain way while they developed in completly different way. For a couple of moments anger was driving me and i was not able to react mindfully. Thanks for this lesson - i see there is still plenty of work for me ahead.

Thank you for all your efforts with traders education. It really is highly appreciated. Just once more please next time let us know all conditions in advance.