Preparation in Trading - Preparation in Trading Brett N...

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Preparation in Trading Brett N. Steenbarger, Ph.D. www.brettsteenbarger.com Note: The following is an excerpt from Gail Osten’s interview with Brett Steenbarger in the March, 2003 issue of Stock, Futures, and Options (SFO) magazine entitled “The Windmills of Your Mind and the Pathway to Your Trades”. The entire interview can be accessed at www.sfomag.com . Brett Steenbarger : One very simple thing—I find that actually writing out on paper, in front of me, the rationale for the trade I am placing is helpful…the point where I enter, the profit/target, the point where I would exit if the trade went against me, and the time of day of the trade—all of the basic information. If I write that down and place it in front of me, it became much easier to pull the trigger when I needed to—to take the quick profit if that was appropriate, to get out quickly with a small loss if that seemed right. Just having it on paper seemed to be correlated with more successful, more controlled trading. And
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This note was uploaded on 08/11/2009 for the course FINANCE Fixed Inco taught by Professor Proflim during the Three '09 term at University of Adelaide.

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Preparation in Trading - Preparation in Trading Brett N...

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