• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

Becoming an expert at anything

Discussion in 'Beginner's Lounge' started by Timmy, May 12, 2008.

  1. Timmy

    Timmy white swans need love too

    Posts:
    2,930
    Likes Received:
    0
    Joined:
    Sep 30, 2007
    This article from The Age is a reprint from New Scientist. Rub - it has a few things to say about the nature vs. nurture debate (especially toward the end of the article) but basically concludes again that "the ability we're so fond of calling talent or even genius arises not from innate gifts but from an interplay of fair (but not extraordinary) natural ability, quality instruction and a mountain of work".

    TH, it also discusses "chunking" - "the ability to group details and concepts into easily remembered patterns". I think this obviously has direct implications for trading (especially short-term). In addition, "the elite also learn to identify quickly which bits of information in a changing situation to store in working memory. This lets them create a continually updated mental model far more complex than that used by someone less practised, allowing them to see subtler dynamics and deeper relationships". Again, strong implications for trading skills...
     
  2. Trembling Hand

    Trembling Hand Can be found on the bid

    Posts:
    8,843
    Likes Received:
    177
    Joined:
    Jun 10, 2007
    Yes. Thats why many a newbie give back gains made after a good trend. They don't recognise the subtler dynamics and deeper relationships and are still trading the same pattern long after it has reversed thinking this pull back is just like all the other.

    Good case of another market cliche doing no good. think "the trend is your friend"
     
  3. Timmy

    Timmy white swans need love too

    Posts:
    2,930
    Likes Received:
    0
    Joined:
    Sep 30, 2007
    I prefer "If you want a friend, buy a dog".
     
  4. MS+Tradesim

    MS+Tradesim

    Posts:
    1,130
    Likes Received:
    0
    Joined:
    Jun 14, 2007
    Timmy or any mod,

    Any chance of this thread becoming a sticky in the Beginner's Lounge?
     
  5. Timmy

    Timmy white swans need love too

    Posts:
    2,930
    Likes Received:
    0
    Joined:
    Sep 30, 2007
    Good idea, done now.
     
  6. Nero64

    Nero64

    Posts:
    227
    Likes Received:
    0
    Joined:
    Aug 23, 2008
    Has anyone read "Trading in the Zone" by Mark Douglas.

    He talks about randomness and that anything can happen.

    I think there is more to the markets than randomness.

    I like his rules of consistency though.
     
  7. AzzaB80

    AzzaB80

    Posts:
    37
    Likes Received:
    0
    Joined:
    May 20, 2008
    Just finished reading "Talent Is Overrated: What Really Separates World-Class Performers from Everybody Else" by Geoff Colvin

    Great book, looks back at world class performers such as Tiger Woods and Mozart and tries to prove that there is no such thing as natural born talent and how 1000's of hours of delibrate practice was the reason for their success.

    Best part of the book however is chapter 7 I think were it discusses ideas and methods for delibrate practice in every day activities. Highly recommended!
     
  8. chris2009

    chris2009

    Posts:
    16
    Likes Received:
    0
    Joined:
    Feb 16, 2009
    You guys sound like an interesting bunch.

    Is there something like a trader meeting that you guys have, im in melb and would like to meet and discuss serrious trading with some people.
     
  9. nunthewiser

    nunthewiser

    Posts:
    4,670
    Likes Received:
    2
    Joined:
    Feb 27, 2008
    It is customery here , that any trader that instigates and co-ordinates any trader meets will be responsible and HAPPY to provide lunch and many alcoholic beverages ............... that being said ...........pencil me in, i will bring my notebook and a pen

    thankyou
     
  10. Trembling Hand

    Trembling Hand Can be found on the bid

    Posts:
    8,843
    Likes Received:
    177
    Joined:
    Jun 10, 2007
  11. newbie trader

    newbie trader

    Posts:
    387
    Likes Received:
    0
    Joined:
    Feb 14, 2010
    I think it is very true that you can train your mind to see/notice specific things. I think (as I wish to own one, one day for no particular reason) I have trained my mind (without trying) to only take notice of BMW's and Mercs when on the road.

    N.T
     
  12. GumbyLearner

    GumbyLearner

    Posts:
    3,630
    Likes Received:
    2
    Joined:
    Mar 14, 2006
    Stick it on the wall.
     
  13. Laohu

    Laohu

    Posts:
    10
    Likes Received:
    0
    Joined:
    Apr 1, 2010
    Great thread!

    The concept/phrase "deliberate practice" reminds me of a golf swing... you can flog 200 balls on the range without thinking (and only get sore hands), yet when only focussing on one "problem" eg legs, 20 balls hit with concentration breeds tremendous results.

    Once that learning is bedded in, then onto next problem - hopefully on the way to some improvement in the level of overall expertise, one step at a time.

    RE Nature and nurture: Tiger Woods? Started him at 3yo...:eek:
     
  14. tech/a

    tech/a No Ordinary Duck

    Posts:
    18,265
    Likes Received:
    1,598
    Joined:
    Oct 14, 2004
    I first heard of the concept become an expert at "something" when at My Son Kris's BS Graduation.

    Kris wanted to do his masters then PHD.
    We had talked on and off for sometime as to what direction he could take.
    He presented 2 choices which he pained over.

    (1) Research Physics an area which he really enjoyed.
    (2) Photonics and Laser development.

    I cant remember the name of the guest speaker but as Kris and I sat on different sides of the room---the presenter went on to say that if you become an expert in anything those who want your expertise will beat a road to your door,it doesnt matter much what that expertise is ---but become an expert!

    At that moment Kris turned and I noticed his stare at me across the room.
    He smiled and nodded---I knew hed decided and I just nodded my head.

    Kris submitted his Thesis for final checking a couple of weeks ago and will become a Doctor of Physics in October.
    Other than being a proud Bewildered father (I'm no Doctor of anything!) I can relate first hand to the theorem of Expert.

    Kris has a Post doc position and will more than likely take up one of the UK positions offered in a few years.

    Personally I have built a Company on expertise (Earth Retention). So have many others in their own field.
     
  15. weird

    weird

    Posts:
    519
    Likes Received:
    0
    Joined:
    Oct 4, 2005
    Becoming an expert at anything, is first, asking what am I good at ? If you are good at maths then it is natural to concentrate your talents at that. If you are naturally good at that, then most likely you will enjoy the reward of solving or quickly learning solutions, compared to others. Maths is just an example.

    After that requires hard work and experience, to become an expert. But number 1 work on something you enjoy or have a natural talent for. Then you don't need psycho bubble to stick with it. Otherwise outsource to another if you wish to employ that expertise.

    I have worked with a few traders, that have different talents to me, where I have contributed only in my expertise, and in combination with their expertise ... so no need to be an expert in everything.
     
  16. Timmy

    Timmy white swans need love too

    Posts:
    2,930
    Likes Received:
    0
    Joined:
    Sep 30, 2007
  17. Mr Z

    Mr Z Roofless Dictator

    Posts:
    1,186
    Likes Received:
    0
    Joined:
    Aug 10, 2010
    Experts exist at the margin, if I know 10% more than you then I am an expert. Be afraid, very afraid and carry salt :2twocents
     
  18. mallymcl

    mallymcl

    Posts:
    12
    Likes Received:
    0
    Joined:
    Oct 6, 2010
    Firstly, good to see a FFC supporter in the mix

    Secondly, a very good read. I went to school here in Brisbane with now a Grandmaster and I had a lot of respect for how his mind operated, really something.

    Thirdly, one of the questions in an IQ test was, what % of knowledge do you expect to comprehend in a life time... I found it a no brainer :confused:

    0% 5% 20% 25% 28%
     
  19. jalicia18

    jalicia18

    Posts:
    4
    Likes Received:
    0
    Joined:
    Nov 5, 2010
    Becoming an expert at anything. How?

    A. Take one hour a day to devote to the topic that you want to become an expert in. That adds up to 365 hours in a year. That number of hours is equivalent to taking about ten college classes.

    B. Use that hour to study the topic. It could be to learn a new skill, learn a foreign language, or develop a hobby interest. Keep this up for 3 to 5 years.

    C. Make full use of the public library in reaching your goal. Read any books and magazines available there on the topic. Find out other titles that will help develop your expert knowledge. Ask the library to interlibrary loan these for you. That service is usually free, but may take a week or two.

    D. Take classes if you want structured learning on the topic. Besides any classes available locally, look on the internet for online classes.

    E. Sign up for online newsletters on the topic.

    F. Find other people involved in the skill, interest or hobby that you're trying to develop expertise in. Spend time with them individually or in a group. Learn everything you can from their experience. Yahoo Groups has groups for almost any topic you could wish for.
     
Loading...

Share This Page