Developing Best Practices

Featuring Brett Steenbarger

Expert trading psychologist Brett Steenbarger provides advice on how to develop a rigorous mental process for making great trading decisions.

Published on
24 July, 2018
Psychology, Trading
7 minutes


  • SS

    Scott S.

    4 8 2018 16:11

    0       0

    I read The Checklist Manifesto last year, but have only created one written checklist for specific investing tasks. Creating and maintaining those lists is best take-away from this video, and I'd recommend reading the book with an eye to how you might apply it in your investing. A pilot wouldn't consider flying without going over her checklist, and in fact, they have checklists for every sort of emergency. For example, Jared Dillian has suggested having an emergency "Break Glass" plan for large market drops.

  • RO

    Robert O.

    26 7 2018 04:26

    1       0

    "Best Practices" in medicine is used as a marker for "Quality".
    But real Quality like beauty or economics can be difficult to measure well, just ask the Fed.

  • DT

    Dave T.

    25 7 2018 08:35

    1       0

    Nothing here that hasn't been said better and with more credibility by people involved in investing as their profession...

  • DK

    Devon K.

    25 7 2018 04:13

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    I'm more of a Mark Douglas guy myself. RIP.

  • js

    jan s.

    25 7 2018 03:41

    1       0

    He speeks to the beginner or traders not making stable profits... like me. This is exactly what my mentor taught me to do and i find it hard. Good to hear that he said the same thing.
    Would be nice if some trader on RV can dive a little deeper into this subject maybe?

  • ev

    ernie v.

    25 7 2018 01:56

    0       0

    If you think that trading is just the next best set-up without mastering yourself and information overload, you might be a redneck.

  • my

    markettaker y.

    25 7 2018 00:53

    4       1

    Kinda feel like this guy is pretty useless.... What has he said that's both useful AND nonobvious?

  • fT

    forecast T.

    24 7 2018 20:01

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    "Successful traders study themselves and study their performance every bit as they study financial markets"

    That insight to someone out there subscribed to this is worth $1,000's in commissions and if that doesn't resonate, YOURE not the trader

  • fT

    forecast T.

    24 7 2018 19:55

    0       0

    Doesn't matter if dudes a trader or not, since the decision making workflow is a function of behavioral decisions. The rest are financial nuances like expenses and commissions, taxation, holding period return calculations, and the technicals like chart patterns , position size , risk etc. Dudes like these are good at spotting cognitive bias , or to describe if a trade has any bias like FOMO , etc etc etc

  • MM

    Mike M.

    24 7 2018 19:55

    2       0

    Sorry but this guy doesn't resonate with me at all.

  • DS

    David S.

    24 7 2018 19:47

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    Thanks, always good to go over the fundamentals. They are not the edge, but keep us focused. DLS

  • CC

    Christopher C.

    24 7 2018 17:42

    1       0

    A dart throwing monkey with superior risk management will survive and perhaps even thrive. Someone trading with an edge on picks but faulty risk management will eventually get carried out on cot.

  • LT

    Lucas T.

    24 7 2018 16:41

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    Is Brett an actual trader? I remember reading his books back in the day but I can't remember if he ever had any results.