Comments on: The Definitive Guide To Trading Mastery & Success http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html Freshly squeezed market commentary & analysis Sat, 21 Nov 2009 23:29:15 +0000 http://wordpress.org/?v=2.0.2 by: Masked Financier http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38639 Sun, 26 Apr 2009 22:10:41 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38639 I agree whole-heartedly with the major point of this post – that a trader or investor needs to spend a long time learning their trade (excuse the pun!). But I do think issue with one part of it – that the other two factors necessary are luck and talent. The third other factor that is necessary is an ability to deal with stress effectively. Putting money at risk in an investing / trading environment is one of the most stressful activities that the human mind can be subjected to. And the ability to deal with stress is something that, like talent, not everyone possesses to the same degree. Newsweek’s recent “Lessons in Survival” article gives an amazing insight into the stress-coping capabilities of special forces soldiers and divers compared with normal soldiers. And it seems that some people are just biologically better equipped to deal with stress. I’ve blogged about Newsweek’s story and the relationship with investing in detail at my own blog. I agree whole-heartedly with the major point of this post – that a trader or investor needs to spend a long time learning their trade (excuse the pun!).

But I do think issue with one part of it – that the other two factors necessary are luck and talent.

The third other factor that is necessary is an ability to deal with stress effectively. Putting money at risk in an investing / trading environment is one of the most stressful activities that the human mind can be subjected to. And the ability to deal with stress is something that, like talent, not everyone possesses to the same degree.

Newsweek’s recent “Lessons in Survival” article gives an amazing insight into the stress-coping capabilities of special forces soldiers and divers compared with normal soldiers. And it seems that some people are just biologically better equipped to deal with stress.

I’ve blogged about Newsweek’s story and the relationship with investing in detail at my own blog.

]]> by: Craig Angus http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38590 Fri, 24 Apr 2009 14:08:34 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38590 Wow! This is a powerfully written and extensively researched post. Like you I intuitively understand the amount of work that is required to achieve mastery; yet is it enlightening to have a goal presented in a tangible manner. It is also useful to remind ourselves of the importance of passion in what we do so that we can enjoy the 10,000 hour journey. Howie Meeker, a professional hockey player and hockey analyst, once said of his playing prowess that he did not learn how to play the sport of hockey until he retired. The message is clear -- not only must we be on the bus, but we must also be on the right bus. That is, we must invest our 10,000 hours in activities and learning that directly support our development. Time well wasted is still time wasted. Thanks for this perspective. Wow! This is a powerfully written and extensively researched post. Like you I intuitively understand the amount of work that is required to achieve mastery; yet is it enlightening to have a goal presented in a tangible manner. It is also useful to remind ourselves of the importance of passion in what we do so that we can enjoy the 10,000 hour journey.

Howie Meeker, a professional hockey player and hockey analyst, once said of his playing prowess that he did not learn how to play the sport of hockey until he retired. The message is clear — not only must we be on the bus, but we must also be on the right bus. That is, we must invest our 10,000 hours in activities and learning that directly support our development. Time well wasted is still time wasted.

Thanks for this perspective.

]]> by: JPM http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38560 Thu, 23 Apr 2009 06:40:19 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38560 Interesting post on Cohen... I've read the book and found it a refresher. 10K hours is certainly no easy task... i wonder what would happen to multi-taskers or Jack of all trades?! Interesting post on Cohen… I’ve read the book and found it a refresher. 10K hours is certainly no easy task… i wonder what would happen to multi-taskers or Jack of all trades?!

]]> by: skip rathnaw http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38558 Thu, 23 Apr 2009 01:06:58 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38558 this is the best, most fantastic story of trading stocks i have ever read. i will print this out and prominatey place it so i see it often. thanks, skip rathnaw this is the best, most fantastic story of trading stocks i have ever read. i will print this out and prominatey place it so i see it often.
thanks,
skip rathnaw

]]> by: Anonymous http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38556 Thu, 23 Apr 2009 00:29:47 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38556 The information in this article is based on the pr fabrications in articles previously published by the WSJ, NY Magazine, and a handful of other mass market media outlets. Myth is what men decide to accept as fact. Deciding to agree on a new version of the truth does nothing to change what is factual; it only makes those who accept distortions of the truth, seem that much more naive, gullible, or lacking in critical thinking skills. The information in this article is based on the pr fabrications in articles previously published by the WSJ, NY Magazine, and a handful of other mass market media outlets.

Myth is what men decide to accept as fact. Deciding to agree on a new version of the truth does nothing to change what is factual; it only makes those who accept distortions of the truth, seem that much more naive, gullible, or lacking in critical thinking skills.

]]> by: doug http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38553 Wed, 22 Apr 2009 21:48:48 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38553 And after you read Outliers think about survivor bias and read it again. Stratospheric results always require luck as much as skill. And after you read Outliers think about survivor bias and read it again. Stratospheric results always require luck as much as skill.

]]> by: Kevin Watson http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38543 Wed, 22 Apr 2009 12:13:02 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38543 Great post.... I have been trading around 5 years now and trading is always on my mind. It is a big part of my life after family of course... I'm sure I have put in my hours than 10000 but whos counting.... not me... because I love everything about trading... The markets the ups and downs..the timing... entry, exits... my methods... everything... I will order the book Outliers Many thanks Kevin Watson http://themarkettrend.net Great post…. I have been trading around 5 years now and trading is always on my mind. It is a big part of my life after family of course… I’m sure I have put in my hours than 10000 but whos counting…. not me… because I love everything about trading… The markets the ups and downs..the timing… entry, exits… my methods… everything…

I will order the book Outliers

Many thanks

Kevin Watson
http://themarkettrend.net

]]> by: Bryan http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38542 Wed, 22 Apr 2009 11:39:15 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38542 Good post. I clocked up my 10,000 hrs a while back and I'm still a way off mastery, Good post. I clocked up my 10,000 hrs a while back and I’m still a way off mastery,

]]> by: JL http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38539 Wed, 22 Apr 2009 04:03:05 +0000 http://www.tradersnarrative.com/the-definitive-guide-to-trading-mastery-success-2460.html#comment-38539 Excellent stuff... you might also want to check out "<a href="http://www.amazon.com/gp/product/1591842247?ie=UTF8&tag=kqr9r8-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=1591842247">Talent is Overrated</a>" by Geoff Colvin. Similar message, very powerful, great read. Excellent stuff… you might also want to check out “Talent is Overrated” by Geoff Colvin. Similar message, very powerful, great read.

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