A Better Way to Learn

BarroMetrics Views: A Better Way to Learn

One of the questions that has perplexed me from as long as I can remember is: what is the difference that makes the difference? Why is it that some traders succeed while so many others fail? And why is this true of other aspects of our lives?

In trading,

  • Some argue that it comes down to talent;
  • Others suggest that those who fail lack some necessary attributes: focus, discipline;
  • Still others suggest that it is a lack of a trading strategy and perhaps more – it is the lack of that secret method to which they are not a party. ‘If only I knew the secret, I too would succeed’  is their plaintive cry;
  • Finally you can throw in, unrealistic expectations – the belief that with little or no study and effort, success will come with the ‘right’ newsletter, system, robot or ‘what have you’.

My list above barely scratches the surface of the reasons for failure.  And they are all true – they are the reasons why some fail. But that fails to answer my starting question: why do some succeed and most others fail? What is it about those who succeed that sets them apart from the majority.

The answer is relevant not only for traders but for all areas of life and learning.

I have written a number of blogs on this subject but have not gathered the material in any one central location.  I plan to start the new Facebook Fan Page with a series of articles on this very important topic.

For those who can’t wait or prefer to do their own research, here are the exciting discoveries in learning that will make a great difference to the trading world. Of course the ideas have to be applied to trading for this to happen. I intend to do my part.

The materials:

  • Any book or work by K Anders Ericsson. The most well-known of his books is: The Cambridge Handbook of Expertise and Expert Performance. But, there are quite a few others worth reading. Just search in Amazon for ‘K Anders Ericsson’; once you have done that, you can Google him. There are a number of free pdf files worth reading. To get you started, I have attached one.

Reading Anders for me was heavy going. The next two books add little to the research but do make his ideas more readable (at least for me and I suspect for many others).

The final book in the series is the one on which I have based my remodeled my mentor course. Right now I am ecstatic about the results so far attained. Early days, but very promising.

This is a book that should not only be read; it should be reflected upon and the question asked: How can I apply the ideas so I can better achieve “x”?

7 thoughts on “A Better Way to Learn”

  1. A comment from Mark Wee

    dateThu, Nov 19, 2009 at 9:27 PM
    subjectA Better Way to Learn

    Hi Ray

    Thank you for this article and the earlier one which recommended the 4 books for reading. I have almost finished “Dance with Chance” and found it the best book I have read in these 2 years – not that it teaches me how to trade but it helps me look and evaluate any set of data [including market data] with a different perspective.
    The other concept of deep practice cited in “The Talent Code” also encouraged me tremendously as I could see the improvement in my [focused practiced] trading.
    I am going to read the remaining 2 books soon.

  2. Hi Mark

    Thank you and I am glad you liked the post and found it helpful.

    Much more in the works by way of our innovation to the way we communicate and teach.

    Stay tuned.

  3. Hi Naoki

    The material is the same. What is different is the format.

    I’ll have more news once the current test group complete the trials.

    The theory section shows that the new format is a better learning/teaching tool. But the proof is in the trading pudding. We won’t know that till Jan 31 but we will have some results Dec 31.

    I’ll be keeping you all posted on the blog.

  4. Hi Kutta

    Thanks for picking that up.

    I have uploaded the pdf in a blog for today under the title: “PDF for Deliberative Practice”.

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