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Becoming an expert at anything

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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...
 

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"
 
Timmy or any mod,

Any chance of this thread becoming a sticky in the Beginner's Lounge?
 
So what do you invest in?? A trip to the casino must be as good as picking stocks, unless one of them is not so random.

I also have difficulty with the concept of random. I don't believe anything is random.
Click to expand...

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.
 
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!
 
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.
 
chris2009 said:
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.
Click to expand...

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
 
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
 
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...
 
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.
 
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.
 
Experts exist at the margin, if I know 10% more than you then I am an expert. Be afraid, very afraid and carry salt
 
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

0% 5% 20% 25% 28%
 
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.
 
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