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“How to Maximize
Your Learning - As A Trader”
By Robin Dayne
With so many unhappy with their jobs or getting
laid off Trading Seminars and Workshops to change careers are sometimes the solution. But
how does someone go to one of these Seminars and learn as much as possible and
be able to trade like the instructor? This is the million dollar
question. Let me explain the challenge. For someone to trade
like the teacher you have to see and understand what they are teaching the way
they see it. Now, you’re going to say well I heard what he was saying and
I even took lots of notes so I got it! WRONG! The reason you might be wrong and
I am not saying all of you are, but are you hearing the information the same way
the teacher is saying it or are you on the same wave length? You
see, we are all different in the way we hear and process information. Even when
they hear the same thing, as they hear it, it’s being filtered through our
mind and each minds filters processes differently. When I did my work
with Anthony Robbins and he had a seminar of 3000 people he would do this exercise
showing this phenomenon. He would break the room of 3000 into groups of 5 people
and ask them to pick a word lets say “education” and he would have
each group right down 5 words that they associated with the word education. Then
he would have each group of 5 compare their lists to see how many words they had
in common. So what do you think? Out of 600 groups how many
had 5 words out of 5 words in common in their lists? Nope! ZERO! 4 out of 4 Zero,3
out of 3 in common many we would see 1-2 out of 600! And 2 of 2 and 1- 1 maybe
we would as high as 5 groups OUT of 600! I saw this exercise over and over and
the same results happened. It used to blow my mind I would ask how could that
be possible? Now think about this, this is one word not a sentence,
not with technical indicators and not with ever changing market conditions. How
we learn ANYthing is really the miracle, isn’t it? So now your saying; “So
what do we do how do we get on the “same wave length?” Firstly,
it’s very important to get the details and as many as you can when attending
any seminar or workshop. Asking great questions can get to the heart of what you
are learning and get you in touch with what the instructor is trying to get across. Questions
are your power. In fact, I always say the only bad question is the one that didn’t
get asked. The power of the question is in the “quality” of the question. When
I was on Wall Street in the trading room I would often sit next to the top traders
and work to define what they are doing exactly to teach it to others. At that
time, in the hay-day of day trading we never used charts. So when studying different
trading techniques as they placed the trade I would say: “What are you looking
at specifically that caused you to take the trade and what is the sequence your
eyes move around the screen?” What do you look at first second and third? Doing
this, would produce, great answers and how that trades patterns around the screen
would happen. To gather the data and than place the order the same way getting
the same results is the key. I would do the same thing for exiting the trade and
it was very accurate. At a seminar you don’t really have
the opportunity to get so myopic but questions should be as specific as possible.
Especially if you are watching someone trade live and the trade works out. Asking
a very specific question may get to what is really in the head of the trade (teacher).
There intuition may come through. Teachers that do not get
specific and trade from their intuition are very difficult to replicate because
your intuition is not developed yet based on their system. So specifics ARE critical
in order for you to trade the same way as the teacher. Remember intuition comes
with time, experience and repetition. Even when you get the
specifics, getting on the same wave length can be a challenge. You may come to
the trading desk with additional “baggage” - fears or emotional blocks
already built in and that will really have an affect on your results and actions.
My goal is not discourage you from trading. My goal is to give you an edge
and give you suggestions to speed up the learning and even become a veracious
learner at that. I have called it in past articles, “digging.” finding
the distinctions and developing the rules that will keep you safe but have you
learn quickly and at the same time keep you out of emotional reactions. One
of the major reasons I developed the CD -”Sharpen Your Trading” was
because I found so many traders didn’t have a methodology that would allow
them to expand their trading knowledge at a fast pace. This CD gives a trader
a way to do this no matter how experienced or what type of trading they do. It
also gives the trader several emotional challenges to be aware of and solutions
to managing them. It creates habits that will be a foundation for any trader and
will speed up the learning curve if you use it. This is so
important to your trading and to move towards success as quickly as possible.
I know you’re saying I am trying to sell you something…….but
I am not I really want traders to succeed and we all need some form of help.
So to encourage you, as a Holiday special I am taking $100 off the CD price
as my gift to you. But here is the thing….you cant order it on the net in
my store you can only get the discount if you call me directly because I have
to place the order manually. Additionally, if you are thinking
of coaching as well, I am adding an additional session to each coaching package
purchased. So as an example a 5-pack is now a 6-pack for a limited time only and
again you have to call it in to get the special. That’s a $500 value and
well worth it! Ok let‘s get back to the topic of learning.
I would like to give you a few things to do that will also help speed up the learning
curve you may want to consider adding into a routine so it becomes a habit. Note:
A habit if formed with 21 consecutive days of repetition. Journaling First
be sure you are journaling your trades the more detail the better and use the
details. Compare the results over a period of time and see if you can create a
new rule or distinction within the set-up criteria or any part of the trade. As
an example let’s say you had a short term trade and you want to fine tune
the exit. Time each of the trades from beginning to the end and after a week or
month notice the length of time it takes to work or not work, from the data determine
the length of time for this trade to succeed, where you have a greater percentage
of locking in cash. Now you have a new rule. Read
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