Why are you so knowledgeable?

[Trembling Hand]

not a fan of the books TH?

Nope. Not as a tool to learn how to trade. Maybe the basics but if you take them as gospel you will be stuck in someone else's rut.

Practise and review to learn then do it some more... on sim. Now where have I seen that stated before?

 

[tech/a]

You'll learn more from any mentor,by observing what they dont tell you rather than from what they do.

 

[nunthewiser]

You'll learn more from any mentor,by observing what they dont tell you rather than from what they do.

like there losses ?

 

[Nick Radge]

10,000 hours. That's the standard measure for becoming a professional in any endeavor.

 

[tech/a]

like their losses ?

Sure You'll learn more (Could learn more) from losing something than gaining it!---Whatever that loss is.

Mentors in general.

From Investment in any instrument to Life Coaches to Business guru's to Self Defence Mentors---its endless.

If you want to be better in anything you'll learn more gems and snippets of real genius from observation than from direct teaching.

In my not so humble opinion.

 

[Trembling Hand]

10,000 hours. That's the standard measure for becoming a professional in any endeavor.

Nah!! surely I just need some squiggly lines, direct news reports, 100:1 leverage and the teaching of the latest guru.

10,000 hours nah! just show me the money.

 

[marklar]

Simple answer is that when it comes to trading, I'm not! I've learnt a LOT since I joined ASF but there is much, much more to learn. I've made some money, I've lost some money, I now know my limitations (time & experience) and have adjusted my trading plan to take this into account. I owe a lot of this education to the kind folks here that share their experience & wisdom.

I know that until I'm able to dedicate more time to being a trader that I'll never be very effective & knowledgeable, but that's OK.... I have a regular job in I.T. that pays me well because of my experience. I'll keep learning about trading in my copious spare time (ha!) and maybe sometime I'll make it to knowledgeable.

m.

 

[beerwm]

I owe a lot of this education to the kind folks here that share their experience & wisdom.

I 2nd that.

Everyone has been/is a great help and I have learnt alot. Thanks All

 

[rossw]

10,000 hours. That's the standard measure for becoming a professional in any endeavor.

wow
so there's roughly 7 hrs in a SPI trading day (9:50-4:30)
roughly 250 trading days in a year
5.7 years

but I thought if I just paid that company $XXXX it'd all be sorted for me?

 

[metric]

Why are you so knowledgeable? ....

the more i learn, the more i realise there is so much more to learn.......and have discovered that a lot of what we are told...is a lie.


.

 

[Trembling Hand]

the more i learn, the more i realise there is so much more to learn.......and have discovered that a lot of what we are told...is a lie.

Thats why I trade with my tin foil hat on

 

[joeyr46]

wow
so there's roughly 7 hrs in a SPI trading day (9:50-4:30)
roughly 250 trading days in a year
5.7 years

but I thought if I just paid that company $XXXX it'd all be sorted for me?

It will be sorted for you you'll join the 85% that pay to play

 

[Temjin]

10,000 hours. That's the standard measure for becoming a professional in any endeavor.

Heh I heard that from somewhere. Oh yes, from one of Van Tharp's newsletter.

But to the OP, no, there is no need for any formal educations or with any particular backgrounds. Just practice, and practice and practice to death.

Anyone who are considered "knowledgeable" are those who claim they do not know everything. (or anything from another Chinese quote)

 

[Andy_aus]

Dont overcomplicate trading, just find an edge and stick to it.

Buy / Sell its 50:50

 

[Trembling Hand]

Heh I heard that from somewhere. Oh yes, from one of Van Tharp's newsletter.

But to the OP, no, there is no need for any formal educations or with any particular backgrounds. Just practice, and practice and practice to death.

Anyone who are considered "knowledgeable" are those who claim they do not know everything. (or anything from another Chinese quote)

Van Thaps just rehashing others work. The Expert on expertise is K.Ericsson

When experts exhibit their superior performance in public their behavior looks so effortless and natural that we are tempted to attribute it to special talents. Although a certain amount of knowledge and training seems necessary, the role of acquired skill for the highest levels of achievement has traditionally been minimized. However, when scientists began measuring the experts' supposedly superior powers of speed, memory and intelligence with psychometric tests, no general superiority was found --the demonstrated superiority was domain specific. For example, the superiority of the chess experts' memory was constrained to regular chess positions and did not generalize to other types of materials (Djakow, Petrowski & Rudik, 1927). Not even IQ could distinguish the best among chessplayers (Doll & Mayr, 1987) nor the most successful and creative among artists and scientists (Taylor, 1975). In a recent review, Ericsson and Lehmann (1996) found that (1) measures of general basic capacities do not predict success in a domain, (2) the superior performance of experts is often very domain specific and transfer outside their narrow area of expertise is surprisingly limited and (3) systematic differences between experts and less proficient individuals nearly always reflect attributes acquired by the experts during their lengthy training.

http://www.psy.fsu.edu/faculty/ericsson/ericsson.exp.perf.html

And this very important point from punters without REVIEW & PLANING

Most individuals who start as active professionals or as beginners in a domain change their behavior and increase their performance for a limited time until they reach an acceptable level. Beyond this point, however, further improvements appear to be unpredictable and the number of years of work and leisure experience in a domain is a poor predictor of attained performance (Ericsson & Lehmann, 1996). Hence, continued improvements (changes) in achievement are not automatic consequences of more experience and in those domains where performance consistently increases aspiring experts seek out particular kinds of experience, that is deliberate practice (Ericsson, Krampe & Tesch-Römer, 1993)--activities designed, typically by a teacher, for the sole purpose of effectively improving specific aspects of an individual's performance. For example, the critical difference between expert musicians differing in the level of attained solo performance concerned the amounts of time they had spent in solitary practice during their music development, which totaled around 10,000 hours by age 20 for the best experts, around 5,000 hours for the least accomplished expert musicians and only 2,000 hours for serious amateur pianists. More generally, the accumulated amount of deliberate practice is closely related to the attained level of performance of many types of experts, such as musicians (Ericsson et al., 1993; Sloboda, et al., 1996), chessplayers (Charness, Krampe & Mayr, 1996) and athletes (Starkes et al., 1996).

That's saying just turning up is not enough. You need deliberate practice.

 

[mazzatelli1000]

And this very important point from punters without REVIEW & PLANING

That's saying just turning up is not enough. You need deliberate practice.

I would like to add that getting over the ego and admitting you have made mistakes during the self review process is critical.

I have had a tendency in the past to believe I am not wrong/blame the trigger and go looking for a new trigger. If you don't get out of this stage - you will be one of those people forever searching for the Holy Grail.

 

[Nick Radge]

Heh I heard that from somewhere. Oh yes, from one of Van Tharp's newsletter.

I actually got it from Dr Bob Rotella:

The world’s foremost sports psychologist, Dr. Bob Rotella is a mental coach to many of the world's most successful athletes, entertainers, and executives. The demand for Dr. Rotella's expertise has expanded into the corporate world, where he conducts workshops for such top companies as: Merrill Lynch, PepsiCo., General Electric, Ford, Time Life, Coca-Cola, Chrysler and many others. He is also a consultant to numerous golfers on the PGA tour as well as personnel of the NBA, NFL, Major League Baseball, NASCAR and more.

Dr. Rotella’s golfers on the PGA tour have consistently been winners, including recent British Open Champion Padraig Harrington and Trever Immelman, winner of the 2008 Masters. As a teacher, Dr. Rotella has been selected as one of the "Top 10 Golf Teachers of the 20th Century" and has directed the leading graduate program in the country for 20 years, at the University of Virginia.

Dr. Rotella has dedicated his life to helping coaches, athletes, business leaders, and salespeople use their minds and emotions to take them to the top of their chosen professions.

 

[IFocus]

I posted this some where else here worth a look about the 10,000 hrs / 10 year thing

http://leavittbrothers.com/stocks-o...eos/2009/01/charlie-rose-malcolm-gladwell.cfm

 

[Trembling Hand]

I posted this some where else here worth a look about the 10,000 hrs / 10 year thing

http://leavittbrothers.com/stocks-o...eos/2009/01/charlie-rose-malcolm-gladwell.cfm

Very good example of real expertise development in has last book. Good read.

 

[MR.]

nah! just show me the money.

Thats why I trade with my tin foil hat on

luv your comic sketches!