This week, I speak with Dr. Brett Steenbarger, a clinical psychologist who has published numerous articles and books on trading psychology. He is a clinical associate professor of psychiatry and behavioral sciences, and works as a trading coach with such storied forms as Tudor Investments. He blogs at TraderFeed.
He earned his bachelors degree at Duke in 1976; and received his Ph.D. from the University of Kansas in 1982. From there, he started what looked like a fairly typical academic career in clinical Psychology – NYC, Cortland, Cornell, Syracuse — over 20 years. A trader himself, it wasn’t long before he combined his two interests into a field of practice as a Trading Coach.
Steenbarger describes some of the simple steps traders can take too improve their performance and consistency over time. He emphasizes the importance of trading returns relative to the risk assumed.
You can hear the full interview, including our podcast extras below, as well as at iTunes, Soundcloud, and Bloomberg. All of our earlier podcasts can be found iTunes, Soundcloud, and Bloomberg.
Books and websites recommended by Steenbarger are after the jump.
Next week, we speak with Charley Ellis — Chair of of the Yale Endowment, Vanguard Board member and all around finance legend.
Referenced in the podcast was a positive psychology website that includes Seligman’s works (plus many worthwhile books on positive psychology); The other referenced website included the works of Abraham Maslow.
Books discussed by Steenbarger:
The Fountainhead by Ayn Rand
Market Wizards: Interviews With Top Traders by Jack D. Schwager
Toward a Psychology of Being by Abraham H. Maslow
Authentic Happiness: Using Positive Psychology by Martin E. Seligman
Encyclopedia of Positive Psychology edited by Shane Lopez
What's been said:Discussions found on the web: