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Here are a couple of interesting articles on research by Professor Carol Dweck showing how mindset can affect learning – explaining how brilliant minds or those with natural talent can be stunted by the wrong mindset and how those struggling can use the right mindset to achieve results that otherwise may not happen.
The key seems to be in praise/reward for effort (growth mindset) as opposed to praise/reward for achievement alone (fixed mindset).
May be especially helpful to those with children as it appears that much of the research has been done with school kids, however, it may also be helpful for traders as well.
Could be why those who appear “smart” and have succeeded in previous ventures seem to fail at trading initially until they are hurt enough by the market to either quit or use their failures as stepping stones for growth while allowing neural pathways to be etched in the brain, which apparently takes time.
Article on Mindset: http://news-service.stanford.edu/news/2007/february7/dweck-020707.html
The Effort Effect: http://www.stanfordalumni.org/news/magazine/2007/marapr/features/dweck.html
Video link: http://news-service.stanford.edu/news/2007/february7/videos/179_flash.html
Happy new year!
The key seems to be in praise/reward for effort (growth mindset) as opposed to praise/reward for achievement alone (fixed mindset).
May be especially helpful to those with children as it appears that much of the research has been done with school kids, however, it may also be helpful for traders as well.
Could be why those who appear “smart” and have succeeded in previous ventures seem to fail at trading initially until they are hurt enough by the market to either quit or use their failures as stepping stones for growth while allowing neural pathways to be etched in the brain, which apparently takes time.
Article on Mindset: http://news-service.stanford.edu/news/2007/february7/dweck-020707.html
The Effort Effect: http://www.stanfordalumni.org/news/magazine/2007/marapr/features/dweck.html
Video link: http://news-service.stanford.edu/news/2007/february7/videos/179_flash.html
Happy new year!