Tuesday, March 04, 2008

Tuesday Ramblings From Brett

Hi All,

I've spent the last two hours answering emails from readers and traders. Amazing how much is going on. Having come back from visits to trading firms in the UK recently, on the docket the next few weeks are trips to meet with traders in Chicago, NY, CT, FL, and MA. What that tells you is that current market conditions are challenging even for experienced, professional traders. With volatility up, correlations among markets high, and plenty of violent countertrend moves, it's a time to preserve capital as well as pursue opportunity. I met with quite a few traders today in Chicago, and the best ones are picking their spots and being patient. When there's good movement in markets, you don't have to press to make things happen.

I also had an excellent meeting with my editor at Wiley, and it looks as though we have a very early January, 2009 publication date for my new book. This one will be a very practical guide for traders that outlines literally hundreds of exercises and techniques that traders can use to help themselves with both the psychological and performance aspects of trading. Many thanks to those who expressed interest in contributing to the new book. Incorporating ideas and techniques from others will make the book far more well-rounded than if I were the only one sharing resources.

Here's an idea that I'd like some feedback on in the comments section, if you're so moved: Remember the "Trading Coach Project" I did with "Trader C", in which I provided over a month of free coaching in return for the right to post our work on the blog? I'm thinking of extending the project to an entire trading firm. I would work for a month or so with the traders at the firm free of charge, and they--in return--would allow me to share information about the coaching with readers. It would be a rare look inside a professional trading firm: what they do, how they do it, and how they work on themselves. Any thoughts?

As always, thanks for the interest; it's much appreciated--