Brett N. Steenbarger, Ph.D. has been actively involved in the financial markets since the late 1970s. He most recently served as Director of Trader Development for Kingstree Trading, LLC in Chicago and is currently Clinical Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY. A clinical psychologist and active trader, writer, and researcher for the past 20 years, Brett is the author of... More

Coping With Risk and Uncertainty By Brett N. Steenbarger, Ph.D.

How do you cope with the risk and uncertainty that are built into markets, and are you coping effectively?  In this and my next article, I will be tackling these important questions. How do you cope with the risk and […]

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Explaining Market Success By Brett N. Steenbarger, Ph.D.

Numerous books have been written on the topic of trading success.  Nevertheless, it is unclear how expert traders obtain their expertise.  Several explanatory models are implicit in market

Being Right and Making Money Are Not Equivalent By Van K. Tharp, Ph.D.

At investment conferences, the hottest speakers are those who provide information about high probability entry techniques. If you say, "Trade with the odds on your side" and show

Behavioral Patterns That Sabotage Traders – Part II By Brett N. Steenbarger, Ph.D.

Consider the following psychological scenarios: A student needs to pass an anatomy course final exam in order to successfully complete his first year in medical school. Because his first

Behavioral Patterns That Sabotage Traders – Part I By Brett N. Steenbarger, Ph.D.

Although I do not maintain a private practice of counseling/coaching for traders, it is perhaps inevitable that traders would contact me for assistance after reading my book on

Overcoming Market Panic By Brett N. Steenbarger, Ph.D.

When I was a beginning trader, I naively believed that a 100-share trade was no different from a 10,000 share one, since both could be executed with the

Trading as Mental Warfare By Brett N. Steenbarger, Ph.D.

Writings on the psychology of trading commonly view emotional conflicts and reaction patterns as impediments to successful trading. Accordingly, they advocate various therapeutic and self-improvement exercises to remove

When to Play By Brett N. Steenbarger, Ph.D.

In a game of Texas Hold’em, each player receives two cards initially.  Then the betting begins.  After that round, the dealer uncovers a set of three cards.  These

How to Take a Loss By Brett N. Steenbarger, Ph.D.

There are quite a few books written on how to make money in the market.  Some of them are even written by people who have made money as

The Three Vices of Trading By Brett N. Steenbarger, Ph.D.

The following is a short article that summarizes several of the psychological pitfalls that interfere with accurate pattern recognition.  My hope is that traders can focus on these