BarroMetrics Views: Trading Success II
There is serendipity in the world.”Trading Success” invoked a number of emails asking what would be the best way to learn for long-term success. In a number of blogs, I presented the model of learning I call The Coyle Method(e.g. http://tradingsuccess.com/blog/a-better-way-to-learn-1288.html; if you do a search for the Coyle Method, most of the posts will come up).
I wanted to place the model in a context. The Cambridge Handbook of Expertise and Expert Performance would be perfect except for the fact that it is rather heavy going. Then lo and behold, in email today, Helen Fang sent me the attached article. Helen is part of Dr. Gary Dayton’s excellent Wyckoff coaching service (if you have a mo, drop in for a look, good stuff. I especially like his Deep Practice Service).
Here’s a brief summary of the attached article.
Modern studies now conclusively show that if you want to become an expert in any field, the following is required:
- Deliberative Practice – the amount and quality of the practice is critical.
- A coach
- Support in the early years
What is Deliberative Practice?
For a detailed explanation of the model, read the blogs on the Coyle Method.
The article here makes two key points:
- Your practice must push the boundaries of your comfort zone to include activities you don’t do well or at all. Of course the activities relate to the desired expertise. So, Deliberative Practice involves, skills you have and need to improve upon; and skills you don’t have but need to acquire.
- Deliberative Practice includes not just action but also thinking. In short, the model applies to both thought and action.
I’ll conclude this blog tomorrow.