10,000 hours to greatness and the Mastery Asymptote

Fantastic post Cmpturk

I find myself looking forward to your posts, they are filled with a lot of practical application of what all are working on as traders.

Everyone is different....This is why it is so intriguing to me concerning personality types and how they relate to trading styles. I have a mild form of dyslexia and it wasn't until I was a sophomore in high school that I got a grip on reading. Thanks to the excitement of Louis L'Amour. So how I see a chart is going to be different than how someone without Dyslexia will see it. As a matter of fact I have come to the conclusion that if I want to trade more than one pair I need multiple monitors. Flipping from chart to chart drives my brain cell batty. Might be a dyslexia issue.

So from the understanding I have gathered about myself. INTJ with dyslexia plus knowing how I grew up. I am able also to understand why I see things the way I do and the information I need to have to continue to improve my trading.

Concerning INTJ"s

With Introverted Intuition dominating their personality, INTJs focus their energy on observing the world, and generating ideas and possibilities. Their mind constantly gathers information and makes associations about it. They are tremendously insightful and usually are very quick to understand new ideas. However, their primary interest is not understanding a concept, but rather applying that concept in a useful way. Unlike the INTP, they do not follow an idea as far as they possibly can, seeking only to understand it fully. INTJs are driven to come to conclusions about ideas. Their need for closure and organization usually requires that they take some action.

The part in red is what will drive an INTJ to study and analysis. The whole of this thread for me. I also believe that as this thread grows, all personality types will benefit, because all will contribute their understanding.


Trade Well All

Rufus

I just finished "Blink" . Awesome book.

I have a total different view of first impressions.

We need to be in charge of the first two seconds of any first impression to have correct rapid cognition.

When I have more time I will write something on the book.

One of the last lines in the book.

If we can control the environment in which rapid cognition takes place, then we can control the rapid cognition.

I know we cannot control the market. But we can control our environment of our minds and how our minds react to the market. If our subconscious is properly "geared" for the price action, rapid cognition will kick in when the entry signal is there and we we will act without hesitation.

Its a good book. It only mentions George Soros. Outside of that no other traders. It is simply a book on the potential of understanding right or wrong that happens in a blink.

Rufus:

I admire you for finding ways to overcome dyslexia and successfully trade. I'm not sure I could do it.

If I have interpreted some of your posts in F5 properly, you use S/R as a tool in your trades.

I have been successful using trendlines, but never S/R. I quit posting Pivots and I quit looking a S/R on multiple timeframes 9-12 months ago simply because I found they confused me rather than provided valuable information. MY trading now is all done without any consideration of S/R. I just havent' been able to use it to my advantage.

I think I need a horse.

Reading through "Trading in The Zone" again

"For your mind to be open to a true exchange of energy, you can't be in a state of knowing or believing what is going to happen next. When you are at peace with not knowing what's going to happen next, you can interact with the market from a perspective where you will be making yourself available to let the market tell you, from its perspective, what is likely to happen next. At that point, you will be in the best state of mind to spontaneously enter the "zone," where you are tapped into the "now moment opportunity flow."

I was thinking just how important this principle is for all of life. How many arguments, misunderstandings, or just general communication errors would not have happened if the people involved in a conversation only listened without any preconceived ideas as to what is being said. I would venture to say that wars have started due to conversation errors. It is a fine balance to be able to receive information as just information and not read into it as something else.

Ah well...Maybe I am misunderstood

Is it so bad, then, to be misunderstood? Pythagoras was misunderstood, and Socrates, and Jesus, and Luther, and Copernicus, and Galileo, and Newton, and every pure and wise spirit that ever took flesh. To be great is to be misunderstood"
Ralph Waldo Emerson


Rufus

same here.
re-take the test (after a few weeks/months) & u might just get INTP, just like me

1 of my main life principles is 'there is always an exception to the rule'
re-read Sir Rufus' post:

It has been a long time since I have posted here.

The title of this thread is still my favorite topic. Everything I study is in light of this.

Quite some time ago I quit reading about indicators, systems, etc. I will still look at some of these things but my focus is the one most important indicator of all time.....

I call it the "BDI" Brain Disconnect Indicator...... I have yet to master its use. But in theory it is the indicator that goes off in your head when you are about to do something stupid. ABORT....ABORT.....ABORT it screams at you when you are about to place a trade that is totally useless or worse yet stupid.

So what am I doing today to activate the BDI?

For starters I am reading everything I can get my hands on that may be pertinent. Right now I am reading "Atlas Shrugged" . This is one of the most thought provoking and well written books I have ever read. With 1200 pages to its credit it takes commitment to just to start. I understand they are making a movie about it...my opinion....Don't go. This book requires you to do your own thinking and draw your own conclusions not the regurgitated pontification of Hollywood.

So what does the book have to do with the BDI? For me the thought stimulation alone is worthy but you see firsthand how ruthless and conniving society, big business, governments, and individuals can be. This is some of who we are trading against or with. And I just past page 400.

Well anyway trade safe all...as for the 10,000 hours and the Mastery Asymptote....It is in sight. Just need the BDI in full operation

Rufus

[quote=Rufus;4714126]It has been a long time since I have posted here.



For starters I am reading everything I can get my hands on that may be pertinent. Right now I am reading "Atlas Shrugged" . This is one of the most thought provoking and well written books I have ever read.

it's amazing how many times this book has come up as a required reading to me from people that are successful in all walks of life. I hear someone bring this book up about once a month, and they are always successful in their chosen field. it is on my list for summer reading to.

Take care my friend!

it is an interesting book, and i'm only 200 odd pages in or thereabouts.

it's not like some old-timey books that employ lots of poetic filler text meant to lengthen the whole book and make it confusing and boring. atlas shrugged is fairly clear on what is happening and is devoid of ambiguous filler. you can feel ayn rands intellect and intent.

I dont think it is logical to tie a sucessful trader limit with the limit of time...some extraordinary souls might become a great trader in quite a less time compare to time limit of 10,000 hours....but yeah experience is really important in this business.so much experience and chart time require to gain a grip on trading.

I agree with you....

There are people who will be profitable with under 10,000 hours. But to be a master of his craft requires a lot of time and dedication. Another book I am reading right now is "REMINISCENCES OF A STOCK OPERATOR" about Jessie Livermore.

Here he speaks of closing down positions simply because something did not feel right. I think to develop a true feel for the market requires the time maybe not 10,000 hours but a lot.

Off to work

Rufus

The whole notion of 10,000 hours is part of an equation for success. If you consider a Competent Mentor, or a competent classroom instruction as variables, then it is very possible to reach a level of competency at the 10,000 hour mark or less. Without a mentor, it could take 2 or 3 times longer maybe. There can also be a host of other variables that could affect the 10,000 hour milestone.

A radio show I follow (called All in the Mind) by an Australian broadcaster just featured a show on becoming a master. See here for details and mp3 download link.

Thanks for a link, BUG

The last post in this thread was 5 years ago. Hard to believe. Since then I have learned a lot about trading as a whole and more specifically my own psychology. It is the intent now that two or three times a week I post here a little I have learned and continue to learn. For one it will force my thinking to be concise in understanding to be able to present a topic. The other, maybe it will help another trader on their road to success. My road has been rocky but not without success.

Lets see where this goes.

Rufus

Le Bon ….. About crowds. Mass psychology of crowds

“Whoever be the individuals that compose it, however like or unlike be their mode of life, their occupations, their character, or their intelligence, the fact that they have been transformed into a crowd puts them in possession of a sort of collective mind which makes them feel think, and act in a manner quite different from that in which each individual of them would feel, think, and act were he in a state of isolation.”

People change when they join crowds. They become more credulous and impulsive, anxiously search for a leader, and react to emotions instead of using their intellect. An individual who becomes involved in a group becomes less capable of thinking for himself.

I posted this quote a number of years ago. I believe it is especially true considering the markets.

Also in light of all the protests going on around the world, especially in USA, this concept is very relevant and worthy to be considered. It makes no difference which side of an argument you are on. Keeping your thinking your own is the most important.

Rufus


Rufus

RELEASE the Kraken





Completely fed up with the insane schedule I need to keep for construction, used to enjoy it a lot. Tired of fixing peoples shit so I can trim out or install cabinets. A wall 1 1/2 inches out of plumb in 6 feet. Fucking idiots. I swear craftsmen are disappearing from the face of the earth.

I have been thinking lately about routines as they relate to trading and life.



Baseball is loaded with routines, some bazar others simple. I can't think of a single Major league player that varies his routine at all. The point of it is consistency and to prepare them mentally for each pitch.

‘Baseball is 90 per cent mental. The other half is physical’ Yogi Berra

Trading is probably about the same. So how important would a routine be in trading? I think it is. I know some traders that meditate before even turning on the computer. Others go for a run or some kind of exercise. Years ago in my early days of trading, I'd race home after work and plop down in front of the computer and have at it. Made so many trading errors it was incredible,

For my life, work has always been the anchor around the neck for trading. It was not until a routine was put into place to handle all the things that had to be done that I could sit down with a clear head and successfully trade the market. Every week there is three hours set aside for nothing but paperwork. Time set aside for reading and studying. The point is to keep all the things in life done so nothing is in the back of my head making a distraction for other things needed to be accomplished.

Maybe a routine will help for you.

Hell. I have even set up a routine for posting on FF and reading other posts.

Rufus

http://cdn.themoth.org/wp-content/up...ngsYouDont.mp3

My daughter pointed me towards this link some time ago. Incredible little pod cast about Anne Duke and the world series of poker. The psychological battle. Very similar to trading.

A little weekend educational entertainment for you all.

Have a super weekend.

Rufus

I just saw the link does not work.

Try this

http://player.themoth.org/#/?actionT...AY&storyId=971

For those who are interested. There is an awesome book that has a chapter devoted almost in its entirety to Annie Duke. I will probably read this book again in the near future.

Read it while in Alaska fishing.




https://www.amazon.com/Smarter-Faste...charles+duhigg