Trading Success Facts
We often discuss with aspiring traders about the chance of success and sustained profitability in financial markets. Many do not have a realistic understanding of the facts of what it really takes to become a successful trader. Some people think it should be easy to enter into the market and get rich quickly, while others believe it is not possible and the financial markets are rigged. We would like to provide you in this short video with an overview of trading success facts and how the success rate in trading stands compared to other high-paid top performers.
Is this a low chance of success compared to other high-paid professionals?
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Professionals vs. Amateurs
The two decades of research on the Cycle of Excellence has shown that top performers are not born but made, and that spending a long time on a subject alone is not enough for mastery. One major question we often receive is “How do amateurs and professionals spend their time individually, which results in such vastly different outcomes of profitability?” Professionals were not obviously experts from the beginning, yet they somehow managed their time and talents differently. This is an important topic that we will look at this short video.
What is the relationship between the knowledge of trading and practical skills of profitable trading?
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Deliberate Practice
The Science of Expertise has emerged in the past two decades by identifying how professionals across a wide range of fields, from musicians to athletes to surgeons to chess players move from average to elite performers. The concept of the Cycle of Excellence has evolved to Deliberate Practice and is used widely by High-Performance Coaching. It is an active process of skill development and the most important element of success in trading, which we will discuss in this video and page in more details.
What is Deliberate Practice and its components?
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Skill vs Knowledge
In search of the secrets of traders’ success, we discussed the importance of focus on Deliberate Practice by professionals under a proper coaching system. Why do many aspiring traders think they can master trading themselves without a need for mentors? Is the method of learning by inspirational traders efficient to turn them to professionals over time? In this video, we discuss the importance of the three domains of knowledge and its impact on the attitude of traders to master essential trading skills.
How is the learning attitude of professionals affected by the awareness of the Domains of Knowledge?
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