We continue our discussion on the second secret of professional traders’ success, which is mastering the execution of a consistent trading system. Deliberate practice using smart drills allows new traders to develop the technical skills to become consistent in a safe, low-risk learning environment. In this video, we’ll outline the advantageous of using smart drills under a learning management system for trading, and explain why it’s the best way to effectively learn how to trade.
As we mentioned earlier, professionals look for the best available coaching that teaches the mastery of the processes and algorithms of a consistent trading system.
The best professional clubs and sport leagues engage with renowned coaches to develop a comprehensive deliberate practice training system. This includes baseline evaluation process, smart goal development, practical drills at various levels, an immediate feedback system, and constant monitoring and supervision.
Using deliberate practice for trading development is an extensive undertaking as it involves breaking a complex system into smaller, easier to understand sections.
Each module has a specific goal, and is presented in the right sequence, with an increasing level of difficulty. The repetition of smart drills is what it makes it effective, allowing you to be one step closer to achieving long-term trading consistency. Trading tests at the end of each module in the form of an examination gauges the trader’s understanding of the content and ensures that the knowledge is understood. If a trader wants to review any of the concepts they can go back and retake the trading tests or drills until they feel comfortable with the content.
A coach must provide 1-on-1 immediate feedback to each learner and constantly monitor their progress to ensure they are advancing to their full potential.
With the advent of innovative training systems and simulations in the recent years, it is possible to develop live computerized smart drills that provides instant feedback.
These smart drills mimic real-life situations, providing a valuable virtual learning experience without the risk in trading. The “show me” aspect of the drill allows active learning and feedback in real time, demonstrating the instant consequences of an action based on a learner’s decision. All of these are important in development of skills related to the process and algorithms of a trading system. Most importantly, a new trader gets the benefits of deliberate practice without the risks in trading which can cause money to be lost in the financial markets while they are still learning.
By embedding smart drills within a modern learning management system for trading, or LMS, the system acts like a live 24-hour coach, providing a dynamic training environment with prompt feedback and constant monitoring of the learner.
The training process is designed to be identical to the process and algorithms of a profitable trading system, creating the skills of the best decision-making and habits of confident execution over time.
The learning management system for trading evaluates the learner’s level automatically by challenging students with various tests and guiding them to the appropriate set of drills to reach a higher level of competency.
LMS has the advantage of gamification, which allows traders to be fully engaged and have fun learning, while solving difficult problems and practicing complex drills for a holistic skill development experience.
Smart deliberate practice drills under a learning management system for trading puts you in control of your skills and overall trading development. You can practice to become consistent, instead of trading randomly under stressful and risky market conditions that creates bad habits and losses.
This concludes our discussion on the second important element of professional traders’ success, which is “Mastering the Execution of a Profitable Trading System”.
For an overview of 3rd secrets of professional trader’s success, which is “Resolving the Human and Market Psychology Conflict”, please click on the link below to read about the Price Psychology Action vs Price Action.
Master Consistency: Build Your Personalized Trading Strategy (Beat Signals, Patterns, Setups) https://www.youtube.com/watch?v=b6kVakvsl2k&list=PLNdkLl_SbhT0q9xpFhLkKbjQ0LiowjCYD&index=3 This blog post dives into the world of trading terminology, clearing up confusion
Master Prop Trading: The Successful Prop Trader’s Insider Secrets For Consistent Profits and Payouts Master Prop Trading: The Successful Prop Trader's Insider Secrets For Consistent
The Three Essential Trendline Trading Strategies that You Need to Consistently Trade Any Market https://www.youtube.com/watch?v=t9kbHfS_Aao&t=155s In this video I’m going to go through the three
Human-Market Psychology Conflicts and Cognitive Emotional Mismatches – Loss Aversion https://www.youtube.com/watch?v=i_n6cbyyfJ4&list=PLNdkLl_SbhT0q9xpFhLkKbjQ0LiowjCYD We continue our discussion on the topic of Human-Market Psychology Conflicts and address the
Trading Signals vs. Patterns vs. Setups vs. Strategies: Why a Personalized, Profitable Trading Strategy Is All You Need for Consistency https://youtu.be/b6kVakvsl2k We’re going to break
Introduction to Trading Personalization: Understanding its Crucial Role in a Trader’s Success https://youtu.be/c1-0XvoJeLc This lesson of module 12, workshop 34, I will discuss the topic
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