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?
- 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.
- 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.
- The Talent Code by Daniel Coyle
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”?