Have you heard of Deliberate Practice in Trading Before?

TradingDrills said:
We programmed our LMS (Learning Management System) in a way that learner has to complete all Lessons, Practice Drills, and Exams in a certain order and cannot escape anyone.
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That's too bad. I'd hate to pay for something I already have a firm grasp of.
 
deaddog said:
I don't mind uncomfortable, I relish a challenge, I really dislike boring.

The first module was boring enough that I'm not going to bother with the next 2 even though they are free.

Keep in mind that I'm quite content with where I'm at, not looking to try anything drastically new. Old Dog --- New tricks :D
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As long as we Old Dogs, are not quite deaddogs, we can still learn some New tricks. :p:D
 
ironchef said:
As long as we Old Dogs, are not quite deaddogs, we can still learn some New tricks. :p:D
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Hi Ironchef,

Good point and I found that many aspiring traders who like to become successful develop resistance to gain new skills after gathering some technical knowledge. It seems many think that the knowledge of the subject is enough and equal to the skill of performing and executing a profitable setup consistently, which we discussed here: "Importance of Trading Skill Development"

This affects a person's attitude to learning a new skill, which is called "Coachability" and we define that as:
- Flexible Adaptive Mindset
- Low ego and humble attitude to listen to the coach's feedback and implement it
- Patient to go through repetitive drills and not get bored
- Resilient to withstand/recover quickly from difficult conditions
- Responsible and Honest/Transparent person willing to work hard

Interestingly if we look at The Turtle Experiment, we see from thousands of applicants, < 50 were selected to be trained and only 14 traders made it through the first "Turtle" program. So only ~5% were coachable and had right mindset for training!

For educational institutes like us, we do not impose such tough selection criteria or interviews to select and then train students. We let non-coachable students (> 95%) who do not like deliberate practice training not to chose us and we are happy with that :)

Our new Smart Trading Drills Under a Learning Management System is automatic and is designed to save our time to work closely with suitable students after Module 10. We focus on those 5% coachable ones who understand the value of high-performance skill development and deliberate practice coaching.
 
deaddog said:
I don't disagree that repetitive practice is necessary. I'm just suggesting that you make it interesting.

Increase the difficulty in each exercise.
Mix it up a bit; instead of having 3 choices ( 2 of each choice) have one exercise where you have 4 of one choice and one each of the others.
Have another where you pick swing highs and lows without them being identified.

Lose the animation. I felt like I was back in kindergarten. What is the objective of the point system?

I'll admit that I have only completed Module #1; however if that is an example of the rest of the course, I'm not sure I would be willing to pay what you are asking.

I've been at this for some time and am trying to think back to when I started; I think that identifying trends is one of the first thing I learned of which swing highs and lows were an integral part. I'm not sure I would have gained anything by having your course back then.

Possibly explaining why identifying those swings is important might help.
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Hi Deaddog,

Thanks for your good suggestions to make the PAAT Trial more attractive. Instead of only the first Module with all Drills that were boring, we added 3 more Modules that cover Basic to Advanced Price Action Trading for free to the PAAT Trial, which covers:
The FREE Price Action Algo Trading (PAAT) Trial covers:
  • Workshop 1: Price Turning Points - Swing Low (SL) & Swing High (SH)
  • Workshop 2: Range, Drawing Range Line, Identifying/Update Range lines in the live market
  • Workshop 3: Dynamic Support (DS) line & Dynamic Resistance (DR)
  • Workshop 4: Dynamic Channels (DC)
  • Workshop 5: Determining the Types of Patterns
  • Workshop 6: Relationship between Pattern and Range
  • Workshop 7: Trend Channel Break Out
  • Workshop 8: Sideway Channel Break Out
  • Workshop 9: Sideway and Trend Channel Break Out - Advance
  • Workshop 10: Momentum Range Analysis
  • Workshop 11: Momentum Slope Analysis
  • Workshop 12: Combining Momentum Range Analysis & Momentum Slope Analysis

Click below to try our FREE Price Action Algo Trading (PAAT) Trial for free:


We have removed the enforcement of sequential completion of each workshop and Lesson in this PAAT-Trial. So this is not a registered user LMS system and please keep your browser open if you want to continue and have your reports at the end.

Hope this helps aspiring traders to become familiar with Price Action Trading and understand the concept and value of smart drills.

All the best,
Ray
 
Just mastering one setup is enough for success and consistency in trading:
Find a trend and take its pullbacks
​
The theory behind this simple setup is easy and can be explained in 5 minutes, but it will take lots of deliberate practice coaching to master it :)

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TradingDrills said:
Deliberate practice is a concept that has been used in high-performance coaching for professional athletes, traders, musicians, and top executives for years- but most people don’t know what it is. It’s the process of breaking down a complex performance profession into small, incremental specific goals. The key is to practice each step many times in the right sequence under supervision to advance. It’s the idea that once you repeat a task enough times, it’ll become your second nature to execute - almost intuitive.

The difficulty of each level should gradually increase as your performance improves so you don’t become complacent and keep learning more difficult skills. The instant feedback by smart drills or a coach lets traders know the right way to do a task and allows them to learn from their mistakes quickly and efficiently.

Learn more about the importance of deliberate practice in trading below:

In summary, a deliberate practice used in trading provides the perfect foundation to build effective training programs for traders who want to reach consistency faster and have a much higher chance of success.

Deliberate practice can be difficult because it forces you out of your comfort zone as the drills get more challenging. So, it’s important to stay resilient as you would in the real financial markets. Deliberate practice also requires long efforts of concentration- perfect for getting you ready once you’re staring at your real, live charts. Lastly, there’s no instant gratification because you need to master many complex skills over time before you see a profitable equity curve.

Have you heard of deliberate practice before and do you think you’ve used it when you’ve learned to trade? Lots of people have used the concepts of deliberate practice before, but not many knew the name of it.
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In the business world and among the associated cadre of consultants that big business sustains, business management fads are continually be rediscovered, repackaged and re-sold. Once in a while there is something truly new, but that is both extremely rare and hardly ever useful other than to keep consultants busy holding seminars and short courses. Most recently the steaming pile of horseshit known as 6-Sigma* has been in vogue, and now this! Good luck to Y'all.

___________________
*this catchy little moniker comes right out of the normal distribution. It's selling like hotcakes.
 
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piezoe said:
In the business world and among the associated cadre of consultants that big business sustains, business management fads are continually be rediscovered, repackaged and re-sold. Once in a while there is something truly new, but that is both extremely rare and hardly ever useful other than to keep consultants busy holding seminars and short courses. Most recently the steaming pile of horseshit known as 6-Sigma* has been in vogue, and now this! Good luck to Y'all.

___________________
*this catchy little moniker comes right out of the normal distribution. It's selling like hotcakes.
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Hi Piezoe,

Thanks for your feedback and very good points as I have been the victim of these fake trading gurus that promised to have something new that works as explained in my profile and spent ~7 years and over 40K in many educational courses, trading systems, and tools that none of them worked! This makes the educational work for 1 % real traders/coaches in this field very difficult as many people are scared and think every trading course is fake and not working.

Since you brought this topic here, there is a good forum in ET that reviews some of these fishy trading gurus:

https://www.elitetrader.com/et/threads/fake-gurus-list.349402/

Also aspiring traders can refer to these links and learn to spot these fake gurus:

The Truth About Trading Gurus - My Research

Uncovering Fake Trading Gurus - Avoid Getting Scammed
 
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