Top Ten Bad Reasons for Becoming a Trader



Top Ten Bad Reasons for Becoming a Trader

Brett N. Steenbarger, Ph.D.



10. My buddy is a trader, and he’s making a boatload of money.

9. I’m good at gambling and video games.

8. Great working hours and lifestyle.

7. I’ve developed a trading system and know it will work for you (but I haven’t tested it).

6. If (Person X) can do it, so can I.

5. I’m young, and it’s worth a shot.

4. I’m ballsy and can take big risks to make a lot of money.

3. I’m not ballsy and won’t take big risks to make a lot of money.

2. I read books/took seminars by (Writer X, who has never successfully traded) and realized I can do this.

1. I have a passion for trading and the markets (but I’ve never traded or studied the markets).

Brett N. Steenbarger, Ph.D. is Director of Trader Development for Kingstree Trading, LLC in Chicago and Clinical Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY. He is also an active trader and writes occasional feature articles on market psychology for a variety of publications. The author of The Psychology of Trading (Wiley; January, 2003), Dr. Steenbarger has published over 50 peer-reviewed articles and book chapters on short-term approaches to behavioral change. His new, co-edited book The Art and Science of Brief Therapy is a core curricular text in psychiatry training programs. Many of Dr. Steenbarger’s articles and trading strategies are archived on his website,

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