Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Didn't see a thread on this topic. It was a point of focus/interest for me a while back. I will leave a few articles I found interesting here. Others can feel free to add links and docs.
This one hit home for me. Spelling bee participants practice for their contests in a couple ways. The study breaks it into three: 1) deliberate practice, 2) being quizzed, 3) leisurely activities (like reading lots). Study found strong link between those that practiced in solitary, feed-back driven etended to do better in the bees.
For me deliberate practice would be screen time, logging trades, and trade reviews. Flipping through charts might be like "being quized", but I found I spent too much time watching videos and reading forums "leisurely" trading activities. The leisurely activities became my procrastination. Need to move away from that.
This is one of the "grand-daddy" papers on the topic. Morse code, violin, piano, chess, athletics. Too many ideas for me to summarize easily. But worth the read.
Here is an interesting example how a goalie practices: using a smaller than normal target (tennis ball), forcing situational awareness (ball overhead), throwing the ball to unseen targets. In someways more demanding than the situation he is training for, but developing skills needed.
Good idea for a thread. I would like to see this topic explored further.
As a long time competitive golfer I understand how deliberate practice can be applied towards improvement. I know that there are specific things I can work on to improve my ball striking, putting, chipping, etc. These things tend to be fundamental and time tested. You either do it right or not right, and the results show.
I have never figured out a specific way to practice trading though. There are a thousand and one different ways to trade, and the markets are ever changing. What worked today may not work tomorrow. I can read a golf book that says that if you do this, this, and this you have a good chance of hitting the ball straight. So I grab a bucket of balls and have at it. Repetition, repetition, repetition. The better I do those things the straighter I hit it, and then I move on to the next thing.
What is the equivalent to this type of practice in trading? How does a novice trader practice what he doesn't know? Is it just about more screen time?
I would love to hear some examples of how other traders practice.