It is a usual misunderstanding that expertise in forex trading is inborn. This kind of perception assumes that either you are a newbie or an expert, you cannot be skillful if you’re not an inborn trader.
It may be true that some people are born with natural gifts of traits and talents in specific areas, but being an expert is actually a result of a development process which is revealed over time.
This is the discovery of Benjamin Bloom, a Ph.D. of the University of Chicago after his study on the progress of 120 outstanding talents from different areas like mathematics, sculptors. Olympic swimmers and pianists.
He aimed to know how to achieve superior performance, that’s why his study consisted of interviews with the talents’ coaches and parents.
Thus, Bloom determined that development has three phases.
Play and Exploration
This is the early phase wherein the person does a certain activity for the value of enjoyment.
Develop Certain Techniques
During this phase, the person focuses on certain areas of the field in a more determined pursuit of greatness, since practice is engaged at advancing more specific strategies.
For example, an acrobat can choose on a certain event which he will concentrate like the uneven bars or the balance beam. At this stage, the main motivators are the reward and pride of him performing his craft.
Pursuit of Mastery
It is the late phase where the mastery is being pursued. The goal here changes from ability to definite expertise.
During this phase, it is now important to work with a well-known mentor who concentrates in teaching elite performers.
Rigorous training is mandatory and the majority of the person’s day will be taken up. This is why several new athletes prefer home- schooling for them to have more time for their trainings and practices. In short, his performance in the field has become his lifestyle and a part of his identity. It’s not new when newbies in forex trading aim for the second phase. Yet, Bloom reminds that before you can achieve mastery, it is necessary to undergo the earlier phases.
Without enjoyment and curiosity for the expertise, traders will find it hard to get motivated to practice cautious training and development of skills. In the same way, jumping the middle step of skills development will make the traders unprepared for rigor of mastery.
Keep in mind that no elite trader has started trading like a master. It’s a process of discovering while having fun with learning the basics. In trading, it is important to learn the basic flow, market correlation, placement of stop loss since these are the backward approaches to achieve mastery.
If you are serious in sustaining that enthusiasm to succeed, then enjoy what you are doing, improve your set of skills, and goal for the excellent performance.
There is no other way, and there is no magic formula than this.
If this process feels frightening for you, then keep in mind that the majority of top traders still appreciate what they are doing regardless of the troubles that the training processes bring them.
If you really want to develop your mastery in trading, you must try to immediately attain discipline and commit to an intentional practice.
Your key to a sustained drive in pursuit of expertise is the real desire to train and do well in your field.
If you want to start developing mastery in trading, immediately trying to acquire discipline and engage in deliberate practice would be a chore.
Instead, treat market analysis with a more curious approach and remind yourself why forex trading interests you in the first place.
The genuine desire to learn and do better in your field is the key to sustaining motivation in the pursuit of expertise.
HSSLIVE 