TradingDrills 

Hi SBtrader82, I used deliberate practice as the best method to train aspiring traders to become consistent on a single setup: Find a trend and take its pullbacks Let me provide everyone with some rough statistics from my training experience with lots of students since 2013 when my Training/coaching Method changed: 1- Vidoe/webinars with Q/A ~ ~5% chance of success 2- Vidoe/webinars with Q/A + Powerpoint drills sent offline ~ 10% chance of success 3- Vidoe/webinars with Q/A + Smart Drills under LMS ~ 30% chance of success 4- Vidoe/webinars with Q/A + Smart Drills under LMS+ 1-1 coaching ~ 50% chance of success Note: The #1 disappointed me as I spend lots of time preparing many videos and explaining in detail the trade conditions and expected a much higher chance of success. Then I realized in the performance coaching era like trading, is like teaching swimming outside water by videos, which is not effective. The #2 was more effective but it took lots of my personal time to provide feedback to those who completed the offline drills. I realized only students who practiced these drills become consistent, which was the beginning of my research on the topic of deliberate practice in detail. But with this system, only 10% completed these drills as there was no enforcement, and the majority not used these effective drills and only watched videos. The #3 had Deliberate practice component and was using Smart Drills. All other price action setups were removed and the focus of the process and Algo conditions were to trade only one simple pullback setup. It was also embedded under Learning Management System (LMS) that was facilitating the coaching process. However, personal coaching was sporadic and missing at the end for coachable students. I realized some traders need direct specific coaching when they get to Trading Personalization at the end (selection of Time frame, instrument, risk tolerance & SL, trading hours/session, Money Management, preparing journals). The #4 is the best coaching system so far as it is completely based on deliberate practice with the smart drills under LMS that provide instant automatic feedback to students, so it will not take my personal time till the trader completes all essential training and understands our terminology. By that time if any coachable student remains in the LMS training system, then I will invest my time to coach them personally after the interview. By the way, 50% will never become a successful trader even with the best training system as they cannot resolve their psychological Cognitive/Emotional mismatches.

@TradingDrills everything that you write sounds very weird to me, what does it mean "it was also embedded under Learning Management System (LMS)"? there are many part of your post that if I read them rationally they sound just like a bunch of complicated words stick together, but they make no sense to me.

I don't understand what you are offering, does your method/system makes money? if so can you prove this claim?
Or are you just a coach? (I have nothing against coaches) but I cannot understand when you say trading system etc... and then you talk about coaching.

TradingDrills 

Hi SBtrader82, I used deliberate practice as the best method to train aspiring traders to become consistent on a single setup: Find a trend and take its pullbacks Let me provide everyone with some rough statistics from my training experience with lots of students since 2013 when my Training/coaching Method changed: ... The #4 is the best coaching system so far as it is completely based on deliberate practice with the smart drills under LMS that provide instant automatic feedback to students, so it will not take my personal time till the trader completes all essential training and understands our terminology. By that time if any coachable student remains in the LMS training system, then I will invest my time to coach them personally after the interview.

Moderator Notice @TradingDrills, This post is promotional in nature, without actually linking back to your website or overtly plugging it. Your description of the process you went through in perfecting your training method, and what you will do with a student in the final step, is clearly promotional in intent. To be clear about the rules: as a vendor, you may respond to direct questions about your service, with specific information that is requested (not references to your website) in a vendor review thread specifically about it, opened by someone else. (You may not open your own vendor review thread or trading journal.) You may not volunteer information about your training/coaching in any other context. Otherwise, you are free to participate in discussions, so long as your own product/service is not something you bring up or refer to, even indirectly. You may not engage in any promotional posting that would lead other members to seek out your product, or to think it may be something they should look into or try. I have deleted the post in question. The purpose of this notice is to clarify the rules and your obligations as a vendor. Any repetition of this action will result in a permanent ban. Bob.

I believe "deliberate practice" can/will benefit any trader. Dr Steenbargers advice to journal such practice/actual trades applies the experience to your historical record and helps you grade results.
His advice (as others have said) is a great way to pick specific things to work on. The prep
and emotional considerations before trading should also be considered. These sorts of matters are rarely spoken about - but are so important to achieve consistant results.

Generally, pick one or two things/skill to work on. Stick to your hard loss limit - like 3 losses in a row.
Practice/trade for an hour at a time max - go for a walk or drink of water. Keep track of results and then journal same at the end of the session and you'll get better - simple. (right)

I hope I haven't missed the point with this - (just sharing what I've always done)

All the best and good trading!

Bump

Sent using the NexusFi mobile app

One area that I've been honing in on a lot is the idea of a denaturing a skillset that needs improvement. Let's say I'm getting caught on the wrong side of the market and entering when the market reverses. Instead of something generic like "Get a better feel for market structure", I go one level deeper (aka the drillset) and ask myself what are the individual parts of market structure that I can improve on? This could give specific ideas like identifying HHs vs LLs, better categorizing whether a market is strongly/weakly trending vs rangebound, etc. I would then create goals based on these lower-tiered ideas.

Lately, I've been working on my 'drillset' three ways:

1. Setting a timer to encourage/force myself to write up my feelings at regular intervals, to get a more granular look at how I'm viewing an evolving mkt instead of waiting until the end of the trading session.
2. Setting numerical targets before I can mark a task complete. So I might label the HHs/LLs and trend changes on 15 charts for example
3. Setting a timer to confirm that I am successful completing a task. For example, if I've been skipping step XYZ during my analysis, I might set a timer every 5 minutes to write down what I see in the mkt and to make a reference to XYZ.

On a related/unrelated note, I noticed there are a few musicians in the thread. I don't play any instruments but I do subscribe to a musician's blog that has a focus on Deliberate Practice. I read it and assess how I can reinterpret ideas into trading.