I'd similar to add together an observation to Adam's fantabulous listing of must-do's for evolving traders. The observation was inspired yesteryear a grouping coaching exercise I performed yesterday amongst the developing traders at SMB. They came to my session in all likelihood expecting me to deliver a beak on a psychology-related topic. Instead, I began yesteryear going to a greater extent than or less the room bespeak each attendee to advert the 1 finish they were working on inward that day's trading. To their credit, the traders were able to speedily articulate what they were attempting to accomplish.
My observation is that the charge per unit of measurement of evolution inward a trader critically hinges upon: 1) keeping grade amongst one's trading; 2) using score-keeping to position clear aspects of trading to locomote on; together with 3) the mode inward which 1 genuinely plant on those goals. This tertiary gene turns out to last especially important.
A good, diligent trader volition overstep along rails of P/L of trades, position practiced together with bad trades, together with possibly write inward a magazine what they did correct together with incorrect together with how they desire to improve. That is great. Consider, however, the trader that takes the next additional steps:
a) Discusses practiced together with bad trades amongst a coach, mentor, or colleague together with gathers additional perspectives re: things to locomote on;
b) Films the trading session together with actively reviews each trading day, focusing on specific areas where decisions were made together with could conduct hold been made together with noting what to human face for inward the futurity to conduct hold the correct actions;
c) Uses results to amend screening for merchandise selection, including writing scripts that automate screens together with position stocks trading amongst similar patterns.
Those additional steps achieve 2 things. First, they allow the trader to procedure learning lessons to a greater extent than deeply, because those lessons are processed via multiple modalities: through discussion, active observation, together with automated analysis. When nosotros larn something inward multiple ways--think of learning to drive a car yesteryear reading together with memorizing route signs together with rules; practicing on a driving simulator; together with going out on the route amongst a driving instructor--our learning is close probable to stick.
The instant do goodness of these added steps is that they house the trader inward a really active learning mode. The trader who films the session is so reviewing the film, pausing it at key points, writing downward observations, together with cementing patterns to last acted upon--no dissimilar from athletes who scout game cinema every bit training for practise together with upcoming games. The active together with interactive learning keeps the trader highly engaged together with focused together with hence to a greater extent than probable to conduct hold inward the lessons learned.
Learning to a greater extent than deeply inward multiple modalities; learning to a greater extent than actively yesteryear doing together with non simply observing--these enrich the evolution procedure together with accelerate the learning curve. One or to a greater extent than traders inward my coming together engaged inward 1 or to a greater extent than of these best learning practices. Imagine beingness inward a community of traders, each of whom is learning deeply together with actively.
The procedure of learning is every chip every bit of import to evolution every bit the lessons beingness learned.
Further Reading: Learning How We Learn
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