How to Turn Knowledge into a Skill?

Over 500 students and only around 50% get to the finish line!

Last November, I enrolled in a course that had an intake of over 500. We are now at the business end of the program and only around half have implemented. Amazing, isn’t it? We spend our hard-earned but fail to follow through – it’s as if the spending alone will attain our objectives.

Have you had a similar experience? Do you want to know a way to get things done?

My report,

“The Single Most Important Reason Keeping You Among the Losing 90%, and it’s not Mind, Money or Method.”

provides a detailed, practical way to acquire trading knowledge and associated skills. In this piece, I’d like to suggest a strategic process to help you attain your objectives.

I am forever grateful to K Anders Ericsson for introducing me to the idea of Deliberative Practice. We know that to acquire any skill we need to practice, that’s a given. What Ericsson brought to the table is the idea that to become an expert we need a special kind of practice, Deliberative Practice.

Recently, I came across another complimentary system that adds to Ericsson’s ideas: the Feynman Technique.

The model applies at the knowledge acquisition phase.  Feynman’s approach to learning ensured he understood something better than anyone else.

The key to his method?  Distinguish between knowing the name of something and knowing something. Knowing the name ‘Head and Shoulder’ is not the same as being able to recognise the pattern when it appears.

For example, did you see the integrated Head and Shoulders on the quarterly and monthly charts in the 30-Year Bonds?

Next week, I’ll consider the steps to applying both Deliberative Practice and the Feynman Technique.

A reminder: On Thursdays, I look to find ideas that help us on our quest for trading success rather write about topics on trading or make market commentaries.


6 thoughts on “How to Turn Knowledge into a Skill?”

    1. Hi Mitch

      We’re conducting a survey end Feb or early March – to see if we can derive new insights on what type of trading plans traders develop and why they don’t follow them. We’re hoping for a similar result to the survey that gave birth to the report you requested. In that case, we conducted a survey on Mind.

      We’ll be offering the report as an incentive to participate in the Method survey. Drop you a line once we are ready to rock and roll

  1. Hi Ray, I like to suggest a possible topic for your Thursdays. Topic of Patterns.
    The reason i suggest this is because someone i know has just started trading and they asked my advice.
    They are going through the magic indicator phase in belief that if they find the right indie it will predict the market etc etc. But i have found certain patterns do presage events. So i bought a pattern scanner to look further into it as i love researching things like that. I found that it does give high probability that a change may happen. Nothing new i suppose but it was a light bulb moment for me, seeing a standard way of seeing patterns according to precise Fibo measurements. It doesnt mean an automatic entry but can save from a low probability trade and point you in the right direction. Which is the first question in your book, what is the trend? I found it fits nicely with your concept of acceptance/ rejection , Tubbs model etc We all have different systems but it seems like if we could graph human emotions we get patterns, over and over again yet everyone has some different system or indie they use but the patterns still occur regardless of what people do.
    cheers Baz

  2. Hi Ray, great blog. I only recently came across your work while watching a Mathew Verdouw video. I’m wanting to research more into your work and methods. Where’s the best place to purchase your book?
    Does it contain the material you discuss in the courses you run?
    I too am interested in the report you mention about deliberative practice and your blog next week!

    1. Thanks, Ted. Appreciate the kind words.

      Nature of Trends is available from Amazon, I believe, as an e-book. It’s a little out of date; but contains the basic material I teach. I’ve noted your interest in the report and will include you in the list to be advised when available.

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