Finally abook about trading that expresses the thought that you should consider the trading method that suits you ..... not try and fit into a trading method. I enjoyed the way Brett wrote this book as it was full of useful information and challenged me in many parts to review my own traidng agenda. Good Book....

I read this book on a recommendation from a friend who used to work with Mr. Steenbarger. The book was both insightful and useful, especially in regards to developing metrics to track and evaluate my own performance.
Also, after being introduced to Mr. Steenbarger through our mutual friend, he gave me some very relevant advice and coaching in getting my professional career as a hedge fund analyst on track.
Thank you for both your contribution to the literary field on trading and your personal help Brett.

As a new trader 'Enhancing Trader Performance' is more important than the market methodology books I'm learning. It is very relevant, structured and complete, the Resources for Performance section is absolutly wonderous. Thank-you Brett.

If you read the bullet points above, you have a good idea of what this book covers. Note that you must take these bullets LITERALLY! Where it says discusses, explores, and introduces ... don't expect anything more.

My grouse with this tome is that I have almost finished it and still have not learned how to coach myself "with practical cognitive and behavioral techniques that rapidly change problem patterns and build new, positive ways of thinking and behaving".

If time is money, then the value of this book goes down because it is unnecessarily long winded. As such I can only give this 3 stars.

If you read the bullet points above, you have a good idea of what this book covers. Note that you must take these bullets LITERALLY! Where it says discusses, explores, and introduces ... don't expect anything more.

My grouse with this tome is that I have almost finished it and still have not learned how to coach myself "with practical cognitive and behavioral techniques that rapidly change problem patterns and build new, positive ways of thinking and behaving".

If time is money, then the value of this book goes down because it is unnecessarily long winded. As such I can only give this 3 stars.

This is the best trading book I have ever read and I am not at my first book on trading. Brett Steenbarger really touch what makes an expert trader. Recommended for every trader that want to get better and eventually become an expert trader.

Great stuff

I gave a high rating to the author's first book "Psychology of Trading" with a review title "Well researched and written, but not for the mass" in that it suits perfectly those with medium or above knowledge of psychology. It's hardly a coincidence, that the second book of the author is also targeted at the professionals, or, to be specific, professional traders who can enjoy systemized training/mentoring offered by their institutions. For traders like me who dont have such priviledges, nearly half of it became quite irrelevant and remote. Definitely worth a read, especially the part elaborating the linkage between practice and expertise, but not as useful nor insightful as fans of his first book might expect.

p.s. Below please find some of my favorite passages for your reference.

Competence precedes confidence: Winning mindsets result from mastery, not the reverse pg 4

When you have found your niche, you dont need discipline to do the right things; you wont want to do anything else. pg 29

Markets, like people, have their personalities; our relationships with markets will profit to the extent that there is compatibility. pg 35

Evolution occurs when we are so taxed that we must make fresh adaptive efforts. The expert is one who continually adapts to extraordinary performance demands. pg 119

How to trade and what to trade are subordinate to when to trade. pg151

Amateur traders turn into professional traders once they stop looking for the next great technical indicator and start controlling their risk on each trade. - John Carter pg 156

all of the above positive reviews are applicable.

You can not start day/swing/option trading without understanding yourself, fear and greed.

Dr Brett will move you into action to become move familiar with yourself

Once in a while a book will appear which identifies problems so precisely that the reader begins to take ever-increasing delight at the insights afforded. The first reading, but certainly not the last, will conclude with such laudatory comments as, outstanding, empowering, top 10 or even top 5, and a must-read.

Such a book is Brett Steenbarger's "Enhancing Trader Performance". It carries my highest recommendation and since I'm not unknown in trading circles this may carry some weight. It should be read by anyone contemplating trading for a living and by all those short-term traders presently dissatisfied with their performance.

Dr. Brett's book cannot fail to benefit those in other disciplines that are performance related, such as golf, chess, wrestling, baseball or as a member of a NASCAR pit crew. The interdisciplinary approach is discussed in some detail and to everyone's advantage. It is a remarkable book with numerous outstanding insights, so that rather than attempt an overview, I will offer a single injunction, BUY IT.

I appreciate the work of Brett and I think he is an honest man that brings us his knowledge and his experience.

Well done

This book is written in an engaging style, with many case studies and original research and ideas, all directly applicable to performance in trading.

But, to my surprise, at one point it says "competence precedes confidence: winning mind-sets result from mastery, not the reserve." There is some truth in this statement and the author seems to be familiar with most of the current research in performance and competency.

Yet one is surprised to see how the author completely ignores the remarkable and mainstream research on human performance set by Professor Albert Bandura of Stanford University, in special his self-efficacy theory. In a book dedicated to enhancing human performance, this is a great void. The book, its theories and ideas, would enormously benefit from the very active and solid research done on bandura's self-efficacy, a vast body of research that has in itself defined a new field in human performance research.

From the point of view of self-efficacy theory, some ideas in the book actually show a weak side and a certain distored view of human performance achievements: contrary to what is stated above, very often perceived self-efficacy precedes competence!

Albert Bandura's excellent book "Self-Efficacy: The Exercise of Control" is highly recommended. Perceived self-efficacy refers to beliefs in one's capabilities to organize and execute the courses of action required to produce given attainments. This affects one's performance in otherwise unthinkable ways. Bandura's book is supported by the citation of 47 pages of references, a large body of research and study on human performance under different situations, which has been completely ignored by this book.

It is certainly a shame. Add Bandura's theory to this book and all the ingredients would be there: you would have an outstanding book destined to become a classic!

In fact, this book's potential is so high and far reaching that it well deserved a rating of four stars. But, while this potential is not realized, do not miss Bandura's book.

Greatest Strengths

The greatest strength of this work is the authoritative combination of theory and practice. Dr. Brett draws upon a body of theoretical literature showing a logical progression from building competence, moving from competence to expertise, and using that expertise to become successful. It is the whole package presented by a great writer who understands the theory.

Unlike many works where the strictly academic approach renders them inaccessible to most readers, this book is fun. Each theoretical step is salted with examples from those who have achieved great success by implementing the principles. The reader learns about how noted athletic performers like Dan Gable, Wayne Gretzky, Muhammad Ali, and Lance Armstrong employed the specific methods described. This does not mean, of course, that these athletes had all read the relevant literature. Instead, they learned or developed key methods on their own. Nonetheless, their success demonstrates the power of the theories.

For traders, another great strength of the book is the application of theory to practice. Because of his personal work in observing and helping traders with their problems and methods, Brett's writing really comes to life. Anyone has done some trading will recognize the characters in themselves or someone they know. Any trader has experience many of the same foibles as the featured characters, who are all real traders. The reality of the examples gives the lessons and advice the ring of authenticity.

Wider Applications

While the book is aimed at a trading audience, it is quite useful for anyone engaged in competitive activity where performance is measured. This is not just about trading. Those competing in athletics or games of the mind will find the work most helpful. Our own experience involves competing and coaching people in competitive activities like bridge, backgammon, chess, sports handicapping, poker, and debate. Nearly every chapter has lessons for those striving for success in these fields.

An Important Lesson

There are also important lessons for the individual investor. So much of today's marketing makes it seem easy for anyone to beat the market. Enhancing Trader Performance shows that learning the key lessons to become successful is hard work. It requires a level of commitment that many would not have. It is better to know this before starting, than to learn the hard way.

Summary

Briefly put, this is a must-read for traders and for system developers. It is also recommended for those engaged in any competitive activity. Finally, it is useful for individual investors. Taking the time to understand the problems faced by top traders is the first step. Those unwilling to make the time commitment to read and learn are unlikely to achieve long-run success. Read this book first!

If you are or plan to be a serious trader this is a must read. Dr. Steenbarger knows what he's talking about. The fact that he is both trader & a psychologist he would certainly make him uniquely qualified on his subject, and his clear writing style is icing on the cake.

I am incorporating severeral of the ideas in the book into my trading plan. If it makes me rich I'll write an even more enthusiastic review :-)

If you are or plan to be a serious trader this is a must read. Dr. Steenbarger knows what he's talking about. The fact that he is both trader & a psychologist he would certainly make him uniquely qualified on his subject, and his clear writing style is icing on the cake.

I am incorporating severeral of the ideas in the book into my trading plan. If it makes me rich I'll write an even more enthusiastic review :-)

This is an excellent book that gives a sort of theoretical roadmap on the subject of its title. This isn't theory in the sense of being useless insights and suggestions, though, but theory in the way that a trader needs to learn about how different securities work before trading them. From this roadmap one could construct a sort of trading curriculum that would help the trader to continually enhance their performance. I write that it's not for beginners because one of Dr. Steenbarger's primary insights is that a trader needs to find his/her niche and 'fall in love' with trading before beginning to worry about enhancing performance. For serious traders, I would say this is a 'must-have' to add to your library.

This has by far been the best book I've read on trading psychology because it not only examines the psychological issues that we bring to the trading table, it maps out several directions for finding your niche as a trader. This book suggests several types of trading and even gives some details on where to take the next step. Very valuable. This book serves as a desktop manual.

First, to keep things totally above board, let me state for the record that Brett Steenbarger wrote the forward to my book, The Essentials of Trading. He and I became aquainted through my editorial work with Trade2Win. When my book was near completion, I asked Brett to give it a look knowing that he was involved in trader training and development. The forword followed from that.

Brett's new book, Enhancing Trader Performance, is his second, following on the heels of his extremely successful and worthwhile initial release, The Psychology of Trading. I would not, though, call it a sequel. While the latter part of the new work does bring in major elements of what the first book covered, the majority of it has a quite different focus

Enhancing Trader Performance is primarily about developing trading expertise. As someone who has spent his fair share of time teaching and coaching on a variety of levels and in different theaters of pursuit, some of which were extremely competitive and performance oriented, I was immediately grabbed by Brett's presentation. And it never let me go - literally pages of notes later.

This book may not be for everyone. It clearly has a bias which leans more toward the full-time and/or short-term trader than someone who traders longer-term and/or on a more part-time basis. This is a natural function of Brett's work helping professional traders with their development and to overcome performance hurdles, along with his own personal efforts in the market, which are short-term in nature as well.

That said, there is still a ton of extremely useful material for any trader, new or experienced. Enhancing Trader Performance provides a sort of roadmap toward developing trading expertise. This isn't about the mental part of actually making trades and managing positions. Rather it is more a discussion of how one becomes more than just a competent trader.

Coaching is a major theme, with Brett clearly being a proponent of traders having coaches who can assist them in their development similar to the way they would an athlete. I personally tend to disagree with the way he uses "coach" and "mentor" interchangably as I consider the two to be different, but that does not detract from the overall message. Importantly, since it can be difficult for the individual trader to get in to a good coaching relationship, Brett shares plenty of tips and advice for how a trader can be their own coach.

The one major carryover from The Psychology of Trading is the use of the stories of actual people - either real or composite. They really help to drive home the points Brett is making, and in a fashion easily relatable by the reader.

In short, read this book if it is at all your objective to excel at trading. More than that, take your time and really absorb it. Read it once, then read it again. I know I will.

This is the best book ever that describes the process to become an expert trader. Using his real world experience as a trading mentor at Kingstree, he came to a radically new understanding of how an elite trader is made. For example, the meshing of a trader's qualities to his trading style, more than his psychological makeup, is responsible for his consistency and discipline. Contrary to his previous perception, he found inadequate training is the cause of most performance shortcomings, and came to the conclusion that proper training is trading psychology.

This is a great book, especially the first five chapters. You'll find many actionable suggestions that will help you lay out your path to becoming an expert trader.

1. It made me think, ponder, wonder and search

2. It was easy to identify with one of the composite traders in the book and I learned from all of them

3. It gave me legitimate, proven, easy-to-understand tools to improve my learning, understanding and performance

What a great book,

--h

I definitely recommend Brett Steenbarger's book "Enhancing Trader Performance" to investors and traders alike.
Because of the psychological issues of both systems design & development, and discretionary trading aspects, psychology is a critical component to ones success or failure as an trader. The analogies of trading to real life figures such as Jesse Owens and Nolan Ryan, experts in their altheleticism is conveyed to traders in a clear, experienced manner.

I just read the first 6 pages of Brett Steenbarger's new book titled, "Enhancing Trader Performance: Proven Strategies from the Cutting Edge of Trader Psychology." The book was just released on November 3rd.

Brett easily hooked me in the first 6 pages with a profile in psychology of two real traders. The first trader, Al never lost his cool and didn't violate his stop losses. The second trader, Mick was kind of a hot head who violated his stops and took a loss personally. Mick after having a bad morning where he allowed his emotion to affect his trading decided to skip lunch to review his trading, figure out the market and also how to get back his money. Al took his lunch and went back to trading with his cool and calm style after lunch. Which one is the successful trader you ask? Mick is the multi-million-dollar performer. Al is no longer trading. How has Mick been able to succeed despite his obvious violation of psychological principles? Deliberate practice. Mick is dedicated to the market and analyzes his every mistake. This helped in preparing him for similarly frustrating trading scenarios and provided him with the confidence to get through it.

I have not bought the book yet but I might.