Tag Archives: domain knowledge

Talent is Overrated

I thought I’d post a review ’cause I’m reading this book at the moment and I’d suggest anyone who is learning to trade should read it. The basic premise is that ‘talent’ is not only over-rated in relation to becoming ridiculously good at something it in fact may not actually exist…

I’m not going to regurgitate examples from the book here (go read it for yourself) but simply state that even genius level performers got there not though some ‘divine spark’ but from deliberate practice and the development of ridiculous levels of domain knowledge.

Students of Chris Lori reading this will understand the point I’m about to make regards exercises/practice.

IF you go about looking at a singular aspect of the market in a structured and logical manner that gives you feedback then you will learn that part of what’s occurring faster and more efficiently.

If you just throw on trades and read books about trading hoping to find some sort of shortcut (and we’ve all been there) you are absolutely not using your time in an efficient manner. You could actually be wasting your time.

The kicker here is what’s called ‘deliberate practice’ and just as the name sounds boring and un-sexy this is what it is and therefore why so few people do it. The number of hours of deliberate practice you do in order to learn a skill are basically what governs your ability in that skill. The sooner you start the better you will be…

So that’s my big lesson for the week/year 😉 If you’re trying to learn anything at all then I’d suggest you buy a copy of ‘Talent is Overrated’ by Geoff Colvin