The 10,000 hour rule.
- Thread starter rmb623
- Start date
10,000 hours being the average to achieve mastery? Some get it faster then others. Lucky ones are shown.
The learning curve for trading is so long because it's a process of elimination. Ie, figuring out what doesn't work. The smarter the student is, the longer it takes (more permutations to experiment and discard). Akin to a large maze with only a few pathways to the exit (lots of dead-ends to explore, remember and back-track from). A rare few start with the correct assumptions (by luck or chance), find one of the keys quickly, and achieve fast success.
The learning curve for trading is so long because it's a process of elimination. Ie, figuring out what doesn't work. The smarter the student is, the longer it takes (more permutations to experiment and discard). Akin to a large maze with only a few pathways to the exit (lots of dead-ends to explore, remember and back-track from). A rare few start with the correct assumptions (by luck or chance), find one of the keys quickly, and achieve fast success.
trading is very different from playing the violin or being a brain surgeon.
u may have figured out a strategy. and it works for years. but then markets change . u r so called edge diminishes.. and most of the times. u get greedy and one slip is all it takes to wipe out years of profits..
if u r a brain surgeon, the closest wud be to have a botched operation and get sued.
u may have figured out a strategy. and it works for years. but then markets change . u r so called edge diminishes.. and most of the times. u get greedy and one slip is all it takes to wipe out years of profits..
if u r a brain surgeon, the closest wud be to have a botched operation and get sued.
10,000 hours is a minimum.
Easy to learn trading rules. Hard to master discipline and emotional aspects.
Also must experience lots of different market conditions first hand for a start. Last year was nothing like 2008. Which was nothing like 1999 etc. So trading takes a lot experience only because market conditions take years to cycle through.
Also you start out relatively poor, if you make it after 5 or 10 years you might be more rich but now you have to learn how to not give that money back, which is not the same skills as you had to make it in the first place. You might (most probably will) get lazy and complacent and lose the discipline you had when you started out.
Easy to learn trading rules. Hard to master discipline and emotional aspects.
Also must experience lots of different market conditions first hand for a start. Last year was nothing like 2008. Which was nothing like 1999 etc. So trading takes a lot experience only because market conditions take years to cycle through.
Also you start out relatively poor, if you make it after 5 or 10 years you might be more rich but now you have to learn how to not give that money back, which is not the same skills as you had to make it in the first place. You might (most probably will) get lazy and complacent and lose the discipline you had when you started out.
Sounds about right, 9 years but way less hours and a few years day trading stocks full time so 10K sounds about right.
Bet if I could find a sponge I could train 1 up in a few weeks, but I'm talking someone with zero past experience so nothing to un learn and willing to learn my method and not get greedy and branche off on there own, sadly this kind of person is RARE!
I find I learn ways of keeping it simpler and simpler as time goes on.
Bet if I could find a sponge I could train 1 up in a few weeks, but I'm talking someone with zero past experience so nothing to un learn and willing to learn my method and not get greedy and branche off on there own, sadly this kind of person is RARE!
I find I learn ways of keeping it simpler and simpler as time goes on.
nope.. u can never teach it to a sponge.- reason is..- that all the hard knocks you have gotten. the kicks in your stomach. the sleepless nights. ha ha. how will u pass that on.
and even if someone claims to be a sponge. problem is that. he /she is human and has the same emotions..fear /greed.
i learnt from a mentor.- i took his simple strategy.but then soon it bored me and I added my innovations( read as greed)
i got burnt so bad.. that i now am back to the simple strategy..
the market will humble u -before u can blink your eyes.. .
That's why it is important to get as many "problem people" into trading.
Trading is the best first step self-improvement out there :
lure of the greed, dream of easy riches, contempt for psychology...
It has everything.
I disagree, I got close to training up a trading partner, the issue is she got bored basically, if you can keep it simple from day 1, follow my method in short and not stray into all the BS on forum's, then trading really isn't that hard.
I'll contact you to check out your assertions. So far your trading thread is obviously for real
( losses postings), but I 'll check these above assertions.
Like I say, I occasionally have VERY VERY VERY BAD days, which I'm working on.
normally right after a spell of profits, with no losers, over confidence is also a killer LOL