Part of focused practice is bringing to bear all the genetic talent that you have available. NBA, remember Spud Webb? NFL, well if the kid wants to be a linebacker and he is in JFL, there is a chance. The 460 pounder can get to 165 and as long as he is not racing any kenyans, he has a shot. Further, sports is not a good analogy because there are genetic factors that come into play. In managing money, all you need to have is average intelligence and the willingness to be a focused sponge.
delibrate practice? no, in trading there are no such thing. first you do not know what to practice, second the market is chaning everday. practice means those things are fixed. if you want to throw good basketball, the net is just there, and you can see it. and it costs nothing,just the time. but many people even practice, in their lifetime, they will never be a star. you can always stand at the same place to practice until you achieve kind of success then change a spot to practice. you can not practice trading. it is costy, you are not affordable of this kind of practice. if you want to practice puting a stop loss, it is easy. but each time you are stopped out, you will never practice that, since that hurts. in trading, you need a plan, your goal is not to practice, your goal is to make money
i spend at least 1 1/2 everyday day replaying my charts. The hard right edge is hidden so it just like real time
Ah, the old stop loss frustration. What fixed it for me was blowing up my account. I realized that a stop would have saved me, and so would no leverage or time decay, and following my plan. I decided to forego all these things because I was frustrated that The Market did not show many opportunities for trend tactics. I went all in, the wrong way obviously, and got what I wanted - a valuable lezzon. Discipline came with punishment. The Market is a perfect teacher, if you love trading. Here is where success comes to those who persist. Risk management is # 1.
So because YOU aren't open minded enough to think of ways to partake in deliberate practice, then it clearly must not be possible. It is certainly possible to partake in deliberate practice in disciplines which involve randomness. Poker players are one example. It's not about learning a prescriptive approach. It's about learning how to think about situations in a way that leads you to the best decision as often as possible. You miss the point. The point is not to "practice trading". The point is to partake in some activity the results in you being better at trading than you were before you started the activity. Deliberate practice in chess can consist of studying games played by master level players. That is not exactly "practicing chess" in the sense of actively participating in the activity of chess. In the same way, you can participate in an activity that results in you being better at trading after completing the activity, and that activity does not require you to be actively participating in the activity of trading. Please don't be so closed minded. Of course you can participate in deliberate practice to become better at trading.
Fighter pilots deal with moving targets yet they practice a bit. To say you cannot practice trading (as opposed to practice is only part of the equation) makes little sense to me.
rtr1129: What you are noticing is that trader198 and KastyG are actually "on the way out" of trading. Image KastyG using a display that has the rightmost 1/3 blank. Imagine this person projecting into that space. Imagine KastyG learning from finding out what the market does do relative to what is being anticipated. I do not mean the fighter pilot type betting like Boyd invented with OODA. I happen to work with people who trade in a group setting and they do purposeful practicing by going forward each day. They have all the facts as a set of pieces. What they do is "put the pieces together". One thing they did was make up a log for common use. They also know market timing is an "events based" Order Of Events that is unchanging. What you get to observe mostly in this thread is people going out the back door of trading. Trends are NOT followed. Trend following is too late for making money. A person can learn the pieces that make up a trend in less than an hour. An hour from now anyone can have the list. What makes the list work is putting the list together in the proper way. Surprizingly, trends get completed and a new trend begins to emerge. Amazingly all markets are made up of fine small pieces. Things like ticks and pips and shares and contracts. Markets are not continuous nor does chance or risk management or money management play a role. All fractals are interlocking and each fractal goes through the same events on its own scale. micro trends make up macro trends over about seven interlocking levels.* All a person has to do it monitor and analyze and then decide and act accordingly. Watch this thread come and go. You can backtest other threads and see people come in the front door and leave by the back door. As you watch people cripple themselves, you can avoid continuing down the road they are taking. Spend an hour gathering all the pieces. Turn them right side up. All you do is put the pieces together once in your life. Then you know that you know. Every day the pieces are presented to you; you put them together the same way each day. When I meet with our group. I always ask how far ahead, in time, they want me to tell them which piece is next. They tell me how far in advance so that they are able to monitor and analyze correctly. In trading, you take the full offer of each trend. *As you see trader198 and KastyG will never have the opportunity to understand they are not allowed to jump fractals any time they feel like it. Too bad for them.