Tuesday, January 13, 2009

The Power of a Single Premise

Consider what your trading development would be like if you accepted the simple premise that, in some measure and on some occasions, you are already the trader you wish to become.

What if, at times, you already recognize market patterns, generate solid trading ideas, and manage risk well? What if you don't need to work on your trading problems at all and, instead, simply need to harness the influences that enable you to trade well?

What if everything you need to succeed is already part of who you are and what you do? What if the only change you require is to become more consistent with your strengths and competencies?

Would you still seek out advice from gurus? Would you still look for answers in the latest indicators and systems? Or would you devote yourself to becoming the best you can be--enacting the best within you--confident that the answers you seek have been part of you all along?

More posts for self-coaching are archived on the new site.


Donald W. said...

Brett, I know the problem well--NOT!

adan said...

communicate w/others still? - yes; example, reading your article

listen to myself more? - yes; example, hear that both, not needing a guru, but still needing human companionship, are not incompatible

be more of the best of me? - yes; absolutely love the direction this takes me

thank you much!

SSK said...

HELLO BRETT, Very interesting, and something that I was pondering today while looking at some new functionality within Market Delta. If you have an edge,why complicate it? It is all about exectution, and self awarness of your strengths as you note.In my case fustration and focusing on my weakness usually always makes for a Bad Day Trading! Thank you for your insights as always. Best, SSK

Jules said...

Dr Brett,

I think the problem is that we (ie. I) tend to constantly compare our results with those of others, remember the few instances we did really, really well (and wondering why we are not achieving those results today), and ignore the fact that market conditions change from month to month and year to year - perhaps even week to week sometimes - rendering our trading systems and methods inept from time to time, because, essentially, they were developed based on a set of parameters specific to the market conditions that existed at the time the systems/methods were created.

Thanks for this article. It couldn't have come at a better time (for me) :-)

Brett Steenbarger, Ph.D. said...

Thanks for the comments; I think it's an important topic--


MrBigHit said...

i've been reading your posts a few months now, and this post, as simple as it is, is probably been the most important one for my trading career to date!