The 10,000 hour rule.
- Thread starter rmb623
- Start date
That's pretty much my experience, too. Many "logical" areas where traders put their stops. And only some of the work, most of the time....
This is a good thread. Yes, 10000 hours OR MORE sums it up for any amateur entering this business.
It is amazing how many video games there are in todays world and how many people everywhere from children through to adults play these games endlessly and sometimes addictively. When does it become 10000 hours or more spent on such games?
Yet here it is - a very old video game: the live chart with a prices axis and a time axis plus buttons to buy or to sell.
So which do you prefer? Learning to play live charts as a net winner or playing todays video games to achieve what?
It is amazing how many video games there are in todays world and how many people everywhere from children through to adults play these games endlessly and sometimes addictively. When does it become 10000 hours or more spent on such games?
Yet here it is - a very old video game: the live chart with a prices axis and a time axis plus buttons to buy or to sell.
So which do you prefer? Learning to play live charts as a net winner or playing todays video games to achieve what?
Yeah it is just that. sad could be added.
I just cant get over this number 10,000 hours ? it just doesn't add up. Especially in trading. sit next to the right guy and you can shave off 80% of that time. your no pro but you have direction. Its just a number , Im not saying its easy. Im just saying it varies by 9000 hours
How far are you from these 10,000 screen time hours?
I really have no idea. but there must a couple of key things you learn on the way and alot of extra things you learnt you didnt need.
If i spend twice the time you did no moving averages TL's and all that stuff, then It may take me a while more. maybe you hired a programmer at one point while I may have learnt programming. there goes 300$ of your money and a year of my time. here I may have spent 2-3 years ? not sure of the hours.
YOu on the other hand may have started down the correct path, or closer to it. Another guy may have not seen a chart at all and only the level 2 and worked on that.
Im just saying it may be so but to assume it with no science behind it . teh study is flawed as stated. All that is left to go on is your impression that you may have had a hard time when you may rate it 10,000 sounds like a good number.
Maybe not, doesn't really matter i guess. As long you understand the secretary of the professional spent 20000 hours doing more focused worked and is not mentioned or surveyed. Thats all I am saying professionals work hard and eat and drink. you take our the work hard and ignore the eat.
its hard, maybe, but the study is flawed your universe now is just you and your friends.
If i spend twice the time you did no moving averages TL's and all that stuff, then It may take me a while more. maybe you hired a programmer at one point while I may have learnt programming. there goes 300$ of your money and a year of my time. here I may have spent 2-3 years ? not sure of the hours.
YOu on the other hand may have started down the correct path, or closer to it. Another guy may have not seen a chart at all and only the level 2 and worked on that.
Im just saying it may be so but to assume it with no science behind it . teh study is flawed as stated. All that is left to go on is your impression that you may have had a hard time when you may rate it 10,000 sounds like a good number.
Maybe not, doesn't really matter i guess. As long you understand the secretary of the professional spent 20000 hours doing more focused worked and is not mentioned or surveyed. Thats all I am saying professionals work hard and eat and drink. you take our the work hard and ignore the eat.
its hard, maybe, but the study is flawed your universe now is just you and your friends.
Old thread, i know.
The 10,000 hours 'rule' is applicable to becoming a MASTER in a particular field.
To learn the basics of being a fairly competent trader would take 20-25 (focussed) hours max. Personally*, I reckon i could train someone in a few hours! Note that the turtle traders were taught in a week!
* i'm not a vendor
The 10,000 hours 'rule' is applicable to becoming a MASTER in a particular field.
To learn the basics of being a fairly competent trader would take 20-25 (focussed) hours max. Personally*, I reckon i could train someone in a few hours! Note that the turtle traders were taught in a week!
* i'm not a vendor
10,000hrs is very much different from rich quick in one week-end seminar.
I was first exposed to this number many years ago when I was deeply involved in learning how to play the violin. So I'll answer from the perspective of learning how to play that instrument.
Truth is this number by itself is meaningless. What's 10,000 hours of practice if you lack talent, intelligence, motivation, focus etc. Its not quantity of time. Its how you use the time. With my violin, I could practice and practice and practice and still get nowhere without the appropriate focus. Even with the focus, the most focused time I could do in a day would be four hours of practice. Subtract the many down days that exists in any person's lifetime, and what does 10,000 hours really reduce to. Many of the best violinist on the planet began at the age of three or four, and are only beginning their career in their late teens. That's more than 10 years. Are they true masters at this stage or have they only just secured solid technique (kind of like the trader whose secured his strategies but has yet to harness the subtleties that will make him truly profitable.)
Sorry, this 10,000 hours number is simplistic. There is much more to it then this.
Truth is this number by itself is meaningless. What's 10,000 hours of practice if you lack talent, intelligence, motivation, focus etc. Its not quantity of time. Its how you use the time. With my violin, I could practice and practice and practice and still get nowhere without the appropriate focus. Even with the focus, the most focused time I could do in a day would be four hours of practice. Subtract the many down days that exists in any person's lifetime, and what does 10,000 hours really reduce to. Many of the best violinist on the planet began at the age of three or four, and are only beginning their career in their late teens. That's more than 10 years. Are they true masters at this stage or have they only just secured solid technique (kind of like the trader whose secured his strategies but has yet to harness the subtleties that will make him truly profitable.)
Sorry, this 10,000 hours number is simplistic. There is much more to it then this.