Deliberate Practice; Overtrading

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
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ShaunWhite
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I don't have a problem with people explaining their methods but I don't agree with blinkered critisism of other people methods. Trading isn't a one size fits all job and everyone should learn from what others do or are trying to do. In fact there was a long thread a while ago about the importance of being open minded! Given the failure rate of people round here you'd expect a little less dogma, but trying to learn from other people's point of view is out of fashion these days.

My option is of debatable market value but from the gospel according to St Peter...
Euler wrote:
Fri Sep 22, 2017 1:46 pm
I just think it seems to be a typical human error to dismisses evidence and use your own frame of reference without being able to see why people are saying something else. It takes a lot of effort, time and patience to see others viewpoints and take them into account. But also, changing your mind is often seen as a weakness when in fact it can be a huge positive.
Last edited by ShaunWhite on Wed Sep 25, 2019 5:29 pm, edited 1 time in total.
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ShaunWhite
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jamesg46 wrote:
Wed Sep 25, 2019 2:15 pm
I think that is down to the individual
+1
stueytrader
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Down to the individual is a fair take to some degree, but that just leaves it open as to whether you are choosing to practice the 'right' areas of your trading? Or even doing anything positive with your practice.

I had presumed the OP was suggesting there were some specific examples to practice?
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ruthlessimon
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jamesg46 wrote:
Wed Sep 25, 2019 2:15 pm
I think that is down to the individual but here is a decent Ted Talk & a good place to start.
https://youtu.be/tGdsOXZpyWE
Out of interest, what parts of that video have actively helped with your deliberate practice?

For example, I agree with the gripes she made about recency bias (but personally, I wouldn't class that as deliberate practice).
jamesg46
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ruthlessimon wrote:
Thu Sep 26, 2019 4:10 pm
jamesg46 wrote:
Wed Sep 25, 2019 2:15 pm
I think that is down to the individual but here is a decent Ted Talk & a good place to start.
https://youtu.be/tGdsOXZpyWE
Out of interest, what parts of that video have actively helped with your deliberate practice?

For example, I agree with the gripes she made about recency bias (but personally, I wouldn't class that as deliberate practice).
I suggested it as a good place to start because of 'ask what, not why' I thought it was a great point made that asking why keeps us in the rear view mirror... I dont think that there is a one size fits all way to deliberate practice and i'm also no expert, i'm here to learn too & would hope that a comment or a suggestion could help somebody who is also interested (in the topic) If this is a suggestion that i'm going off topic and being a hypocrite then i'll accept your opinion, although I did think there was some relevance.
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ruthlessimon
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jamesg46 wrote:
Thu Sep 26, 2019 5:28 pm
I suggested it as a good place to start because of 'ask what, not why'
Yah, that what to why bit was kinda interesting - the problem is, stuff like that tends to reaffirm my own opinions :D - & that's why I queried

For example for me, recency bias is solved, not through "delib. practice", but by starting some form of data collection asap - gives us a better chance of seeing the longterm facts, imho. Unfortunately for me, I basically started 2yrs late - hence why I bash it quite heavy, because it was/is so vital for me. Obviously everyones different, but for me it was such a huge help.

Actually that vid did allow me to find this old thread (viewtopic.php?f=36&t=8807), interestingly the "why's" outnumber the "what's" - so according to Tasha, that's bad advice Peter ;)
SweetLyrics
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So has the data given you insights into what makes the market tick on a fundamental level?
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ruthlessimon
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SweetLyrics wrote:
Thu Sep 26, 2019 5:56 pm
So has the data given you insights into what makes the market tick on a fundamental level?
Yeah I guess it has, & then I use those facts - to manually "deliberately practice" what the data suggests. Otherwise I wouldn't have a clue where to even begin - which was me in 2017, basically pissin' in the wind
SweetLyrics
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So do you actually manually trade then?

I had no idea. I thought you were purely a theoretician/data gatherer. :)
jamesg46
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ruthlessimon wrote:
Thu Sep 26, 2019 5:52 pm
jamesg46 wrote:
Thu Sep 26, 2019 5:28 pm
I suggested it as a good place to start because of 'ask what, not why'
Yah, that what to why bit was kinda interesting - the problem is, stuff like that tends to reaffirm my own opinions :D - & that's why I queried

For example for me, recency bias is solved, not through "delib. practice", but by starting some form of data collection asap - gives us a better chance of seeing the longterm facts, imho. Unfortunately for me, I basically started 2yrs late - hence why I bash it quite heavy, because it was/is so vital for me. Obviously everyones different, but for me it was such a huge help.

Actually that vid did allow me to find this old thread (viewtopic.php?f=36&t=8807), interestingly the "why's" outnumber the "what's" - so according to Tasha, that's bad advice Peter ;)
'Well hasn't this thread turned out to be very interesting all of the sudden...
For example for me, recency bias is solved, not through "delib. practice", but by starting some form of data collection asap - gives us a better chance of seeing the longterm facts, imho. Unfortunately for me, I basically started 2yrs late - hence why I bash it quite heavy, because it was/is so vital for me. Obviously everyones different, but for me it was such a huge help' + me, although I think I'm around three years too late, not that it's ever too late to start (or is it)

Anyway, the thread imo is all still very relevant just the one word, is it why or is it what. For me, it's what... but that's my belief system & I think it's down to each individual to make that decision. Great post & thank you for directing me to the thread!
Dave C
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Do you guys ever think that you,you know, overthink this Trading lark?
jamesg46
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Dave C wrote:
Thu Sep 26, 2019 11:05 pm
Do you guys ever think that you,you know, overthink this Trading lark?
Who says this is just all about 'this trading lark'
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ShaunWhite
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Dave C wrote:
Thu Sep 26, 2019 11:05 pm
Do you guys ever think that you,you know, overthink this Trading lark?
Unless you've thought about everything, you don't know which thoughts are worth thinking about, you only think you do.
SweetLyrics
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I'm all for being open-minded and casting the net wide open, but sooner or later you need to roll your sleeves up, hone in on particular approaches and test those approaches. Otherwise, your mind becomes butterfly-like, landing here, there and everywhere, but never stopping long enough anywhere.

As I indicated in a previous post, too much of what Simon calls deep thinking is often procrastination.

I'm reminded of this classic Monty Python scene: https://www.youtube.com/watch?v=55fqjw2J1vI
ShaunWhite wrote:
Fri Sep 27, 2019 2:23 am
Dave C wrote:
Thu Sep 26, 2019 11:05 pm
Do you guys ever think that you,you know, overthink this Trading lark?
Unless you've thought about everything, you don't know which thoughts are worth thinking about, you only think you do.
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Kai
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SweetLyrics wrote:
Thu Sep 26, 2019 6:03 pm
So do you actually manually trade then?
I had no idea. I thought you were purely a theoretician/data gatherer. :)
SweetLyrics wrote:
Fri Sep 27, 2019 8:25 am
As I indicated in a previous post, too much of what Simon calls deep thinking is often procrastination.
Why do I have the feeling that you're actively trying to provoke Simon into another 5 page argument between the two of you? :D Credit to Simon for not taking the bait, such comments would probably trigger a lot of people on here and I can easily see this thread getting out of hand. You two obviously know each other from before (because of your little wager) and at first it looked an argument between 2 friends but that's getting increasingly unlikely, if there's any issues to work out why not work them out in private instead?

Don't know about others but I'm personally not a fan of any ad hominem arguments, there should be no need to resort to such things.
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