How Maximize Your Learning – As a Trader

Dec 13, 2009 

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. 

Stay with the trade.

If the trade closes and works or doesn’t work notice what’s happening on the screen even after the trade is complete.  Are there many indicators that will help you if the trade comes up again? Any distinctions? Any Rules? 

New Solutions

Be sure if you have a loss that you know why and come up with a new solution if it comes up again. This is very, very important! 

Diggers Wanted

Become a “digger” keep yourself occupied notice patterns and what is working and not, keep track to see if it’s reoccurring.  Remember new set-ups come from those that dig and a good set-up works 85% of the time or more. 

Seminar Questions

ALWAYS ask your questions, let go of your egos. You probably paid good money for the instructions and you want to get your monies worth, Ask good quality questions.  Remember to be as specific as possible. The more specific the better chance you have to get on the same wave length of the teacher and that’s your goal. 

In the meantime great trading! and Happy holidays!  - Robin