There is some really savage and downright uninformed personal stuff flying around here. Not fair and not professional. Brett Steenbarger was not a trader while at Kingstree. He cannot be legitimately called a trading guru - he was not trained in the art, nor has he been an actual practitioner from what he told me during a social conversation at an industry event. He is, however, a pre-eminently trained and qualified psychologist who has worked closely with traders over the years, and to that end I would opine that he knows more about the psychological and emotional aspects affecting a trader than any other person on the face of the earth. A trading guru ? Perhaps not in terms of the strict definition. A trading psychology guru ? Of the highest order, probably none better. Is one more relevant or important than the other ? I'm not sure - depends on the topic or person.
Bone.. he traded every day and I suspect he was a darn good trader. He actually wrote on his blog about how he had a huge loss when he was younger and was shorting the market. He later went to work as a trader a prop firm but decided the psychology was more important to him. You can read about it on his blog. While he didn't make quantified predictions (I haven't met anyone besides myself who will) -- I know he was better then most because I bet against every one out there making calls and I always beat them. The reason I started paying attention to him was that I had my first losses (prediction losses) against him. So, I immediately started to pay attention. I don't think he can be faulted really except he didn't make quantified predictions but did share his bias. He can also be faulted for not hiring/helping to hire one of the greatest predictors in this world of worlds. That may prove to be a most significant fault in years to come. But everyone has made that fault too (besides for myself). And, then again it is a good to triumph without help. So, what seems a negative may be the greatest positive. He was a very good indicator for me because he always turned slower (but surer). He had a good feel on the overall market direction and always provided GOOD market analytic and not just psychology stuff. Yes a lot of stupid stuff is flying here. Really stupid stuff. anyone with half a brain knows that though. sorry coach. Lets just be real blunt about it: he's accomplished more and will leave a far greater legacy then anyone else here I know except for Gary Smith. His blog remains the most valuable AND FREE source of information for traders ever created, in my strong opinion. Anyone here who thinks they can create as great a legacy is free to prove me wrong. I'd love to see it and to have even 1 source for trader information as both VALUABLE and INSPIRATIONAL as Dr. Brett's blog. Here some good links: http://traderfeed.blogspot.com/2006/09/becoming-your-own-trading-coach.html http://traderfeed.blogspot.com/2007/04/trading-mentors-and-coaches-resource.html http://traderfeed.blogspot.com/2007/04/performance-coaching-when-it-works-when.html http://traderfeed.blogspot.com/2007/04/trading-mentors-and-coaches-resource.html Anyone who bother to read Dr. Brett's blog can not be left with the impression that he didn't trade. There are multiple references that he got up each morning at about 4 AM and traded. He even shared is methodology. He also made a ton of posts about how trading psychologist needed to trade to be able to help traders. He made the distinction between mentors and coaches. My take was that he was a coach because he only worked with traders who had demonstrated prior success. nor has he been an actual practitioner from what he told me during a social conversation at an industry event If practitioner refers to one who trades then that's BS. Read his blog. You'll find dozens of quotes where talks about trading. I'm not going to bring them here though. Not my job. Not my time.
Bone, You seem to be joining the uniformed wanker category previously the preserve of the likes of marketsurfer, the guy whose axxx he licks, and southamerica.
Lucias, I know several of the traders who were at Kingstree (now scattered about), and I stood on a Wrigley rooftop in 2006 during a Eurex party and spoke to the guy for about 45 minutes - so we have different points of reference I suppose. I did not intend, nor do I believe, that I came off as bashing the guy. He is a trading psychology guru of the highest order, but he is not a trading guru in the strictest definition of the term in terms of a practitioner. No, I did not read his blogs. Yes, I got my info from a personal conversation with him in a social setting as well as Kingstree traders with whom I knew before Chuck set up Kingstree ( a few of them were at Goldenberg Hehmeyer). David Ellis went and hired a psychologist over at DE Trading/ITG based upon what McElveen did with Steenbarger - and I know David personally because I traded for him. Lucias, your reference is a blog and mine is a bit more local in nature.
He wouldn't call himself a guru of any sort! It sounds like you were claiming he didn't trade. Maybe, I read you wrong. But, if you are claiming insinuating that he didn't trade then I'm telling you flat out: he cited his personal/own trading many times at his blog. He was up every morning at 4 am. So, if that's what you claim then its not credible. He is incredibly humble which one trait that I will try to put into practice because the market judges the proud to a higher standard. Which should we believe? His blog where he cites specific trading instances dozens of time or a story from a guy on the internet at a party? Were you trying to sell him trading courses at the time? If so then maybe he didn't want to have to hear your sales pitch that night. Bone, you are kinda like the guy who gives platitudes to the face while sticking the knife in the gut. That doesn't reflect well on you. I hope I misunderstood everything here, in which case, accept my apologies. But, I read it as you are saying he didn't trade. What is very possible he didn't trade at the time because of stipulations or so that traders wouldn't worry about him stealing their "edge". It is very possible that he wasn't trading for a short period of time. But, the public record shows he was a very serious trader.
Lucias, I couldn't agree with you more. I met Brett and worked with him for just a bit (professionally, not as a trading student/client). Brett is classy, caring, sharp and someone you can trust.
And I agree completely. In terms of the psychological and emotional aspect of trading, he is pre-eminent - the best in the business.
And he is also a superb analyst AND trader. He deserves credit for the whole enchilada. All one has to do is carefully study the thousands of blog posts he made and you'll see just how much good stuff he shared. Read between the lines and you can even take away a good bit of proprietary stuff he did his best to share. Brett is FAR more than just a great trading psychologist.