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10,000 hours, really?


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10,000 hours, really?

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  #31 (permalink)
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Massive l View Post
I put in over 40 hours a week for almost 4 years straight.
52 weeks in a year
x 40 hours
x 4 years
= 8320 hours

The first 2k I spent on ichimoku
The next 3k I spent programming a new method. That's the 5k.
My last 3k, I've spent perfecting my method.
I've worked on my psyche in regards to trading whether I realized it or not from the very beginning.

So for 4 years, you had no income and no vacations?

What motivated you to carry on?

In terms of the 7500 hours on psychology, this was in parallel to the 8,320 hours above?

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  #32 (permalink)
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For 7 years, I've operated a business. I have a secondary income.
I take a week here and a week there every year. Of course, the laptop comes with me.
Some weeks, especially in the first year or two, I spent more than 40 hours learning and trading.
Some weeks, I've spent less. On average though, it's been about 40 hours.

I'm not sure why you are probing anyways. The question was about 10k hours, I said where I'm at.
So for me, yes, I can see the 10k being relevant.

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  #33 (permalink)
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The main question is this; does it take 10,000 hours to be successful? The myth comes from the definition of success.

Malcolm Gladwell defined success as being world class, so yes, 10,000 hours is probably necessary to achieve that level.

However, there are millions of successful people that are not world class but pay their bills, travel, contribute and otherwise define themselves as successful but are not world class.

I do think however, to arrive whatever level of success you desire, you should focus on a very limited number of things for an extended period of time. Very hard to be the master of many things concurrently.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #34 (permalink)
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Massive l View Post
For 7 years, I've operated a business. I have a secondary income.
I take a week here and a week there every year. Of course, the laptop comes with me.
Some weeks, especially in the first year or two, I spent more than 40 hours learning and trading.
Some weeks, I've spent less. On average though, it's been about 40 hours.

I'm not sure why you are probing anyways. The question was about 10k hours, I said where I'm at.
So for me, yes, I can see the 10k being relevant.

I am probing because I find it amazing.

You said 40 hours a week x 52 weeks for 4 years. To do this alongside a full time job would have you working 16 hours a day. Add in 4 hours for travel, eating etc and you'd be pushing 20 hours of wake time.

This level of activity would kill most people, so of course, I want to understand the level of dedication that sees a man put in "over 40 hours a week for almost 4 years straight. "

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  #35 (permalink)
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DionysusToast View Post
I am probing because I find it amazing.

You said 40 hours a week x 52 weeks for 4 years. To do this alongside a full time job would have you working 16 hours a day. Add in 4 hours for travel, eating etc and you'd be pushing 20 hours of wake time.

This level of activity would kill most people, so of course, I want to understand the level of dedication that sees a man put in "over 40 hours a week for almost 4 years straight. "

Tell you what, I have over 40 years in the markets as a swing trader. 2 years ago I went full time day trading and for a year my friend Massive taught me how to trade futures. I have posted every trade on another site since Nov and I have a 74% winning record. That's right. 74%. It's all posted with screen shots of every trade.

Do not doubt Massive because he's telling you like it is.

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  #36 (permalink)
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Big Mike View Post
I'm starting the thread to encourage participation on this subject. Many people say you need "10,000 hours" of hands-on trading experience before you can become adept enough on the subject to be in a position to be any good at it.

Most people who work 40 hour work weeks in a "day job" work approximately 2,000 hours a year. This equates to roughly 5 years of experience to equal the 10,000 hour mark, if you put in 40 hours a week with 2 weeks off per year.

Thoughts?

Mike

Hi Mike,

I disagree. A few people are born with a God given talent and others like myself will never measure up. I have always been successful as a swing trader but today I have an exceptional record as a futures trader because I was taught by one of the best.

If I had 20,000 hrs I still would not be any good so my opinion is that you're either born with the ability to trade or you have someone teach you. Hope this makes sense.

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  #37 (permalink)
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4 hours of travel...give me a break. My office is 10min from my house.

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  #38 (permalink)
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bnichols View Post
By his own admission it took Al Brooks over 10 years to learn how to trade.

But he had other problems to solve such as raising three wonderful daughters.

As for me I just have two wonderful daughters to raise so will probably take a bit less.




Jest apart, there definitely is the 'hours' factor and quality of those hours is critical.

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  #39 (permalink)
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Massive l View Post
4 hours of travel...give me a break. My office is 10min from my house.

I would just not reply anymore. Am I allowed to post the address for my journal? I just got a PM from someone that wants to see it and I can't reply because I am a newbie. lol

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  #40 (permalink)
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Massive l View Post
4 hours of travel...give me a break. My office is 10min from my house.

ok then

let's say 8 hours of work, 8 hours of trading

2 hours to eat & wash etc.

That's 18 hours, leaving 6 for sleep.

For 4 years, this is an incredible sacrifice.

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