Why you should keep a Trading Journal!

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Yen & Lee (2011) analysed the behavioural patterns of problem-solvers in a blended learning environment (i.e with a teacher and a computer aided learning environment) and identified three groups of problem solvers. Group 1 followed the teacher's step-by-step instructions and made considerable use of the e-learning environment; nonetheless, they failed to consider the reason for doing so during the problem-solving process. As a result, they performed below expectation on a post-intervention test. Group 2 spent considerable time using the e-learning environment without specific teacher guidance. This group also did not make substantial progress during the course. This could be because the learners paid too much attention investigating the technology and neglected to carry out the tasks needed to complete their projects. This is consistent with Cai & Brook's (2006) observation that poor problem solvers read problems quickly and curiously, but can be easily distracted by irrelevant matters. Group 3 spent the most time in classroom discussions and only used the e-learning environment when it became useful. This group performed best on post hoc tests. Classroom discussions can help students reflect on their problem-solving processes, and many studies have shown that effective problem solvers constantly monitor and adjust what they are doing (Dufrese, Gerace, Hardiman & Mestre, 1992. Bransford, Ann & Rodney, 1999).

Self-efficacy refers to the student's confidence that they can perform a task or achieve a goal (Bandura, 1997), and this is crucial to self-regulated learning because it affects their perseverance during challenging tasks (Crippen & Earl, 2007). Thus, students with lower self-efficacies will become disinterested in their tasks and lose motivation. Students with higher self-efficacies are more likely to engage in difficult tasks even in the face of initial failures (Pajares, 1996), and a person's belief in their ability to complete a task can lead to the successful completion of the task (Bandura, 1997).

Crippen & Earl (2007) investigated the impact web-based practice questions with self-explanation had on students' learning, problem-solving abilities and self-efficacies. Self-explanation is a form of self-talk where the learner engages in an iterative personal dialogue whilst engaged in problem-solving (similar to keeping a diary or journal). Good problem solvers use a larger volume of focused self-explanation than poor problem solvers (Chi, Bassok, Lewis, Reimann & Glaser, 1989), and students who engage in the self-explanation of worked examples tend to have access to those examples to form creative problem-solving strategies (Didier-jean & Cauzinille, 1997).

In Crippen & Earl's (2007) study, the students were divided into three groups: a control group, a group using web-based practice questions that were similar to traditional pen and paper practice questions and finally, a group using the web-based practice questions with self-explanations. Crippen and Earl designed their worked examples as 'detailed problem solutions containing identifiable qualities and characteristics'. They aimed to provide learners with a structure for understanding how the solution was obtained without providing a script or algorithm. In this study, the students were summatively assessed at the end of the course. It was found that the group who studied by only using the practice questions performed worse than a control group; however, the group who used practice questions together with self-explanations significantly outperformed the control group.

Sources available on request.