{"id":24891,"date":"2013-03-07T16:25:14","date_gmt":"2013-03-07T21:25:14","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=24891"},"modified":"2023-04-04T17:52:01","modified_gmt":"2023-04-04T21:52:01","slug":"does-the-10000-hour-rule-apply-to-trading","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/does-the-10000-hour-rule-apply-to-trading","title":{"rendered":"Does the 10,000 Hour Rule Apply to Trading?"},"content":{"rendered":"<p>It takes purposeful practice AND 10,000 hours to become great at anything, says this<a href=\"http:\/\/www.bakadesuyo.com\/2012\/05\/is-it-true-that-10000-hours-of-practice-will\/\"> latest blog<\/a> from Barking Up the Wrong Tree. \u00a0I write about one way to practice purposefully in my next book\u00a0<em><a href=\"http:\/\/www.amazon.com\/The-Playbook-Inside-Professional-Trader\/dp\/0132937646\/ref=sr_1_1?ie=UTF8&amp;qid=1362680637&amp;sr=8-1&amp;keywords=the+playbook+mike+bellafiore\"> The PlayBook<\/a><\/em> (which you can preorder), by creating your PlayBook. \u00a0I have written about other ways extensively on this blog (some examples below).<\/p>\n<ul>\n<li><a href=\"http:\/\/www.smbtraining.com\/blog\/improving-our-performance-by-watching\">Improving Our Performance By Watching<\/a><\/li>\n<li><a href=\"http:\/\/www.smbtraining.com\/blog\/seek-the-master-coaches\">Seek the Master Coaches<\/a><\/li>\n<li><a href=\"http:\/\/www.smbtraining.com\/blog\/so-you-say-you-want-to-be-a-pro-trader\" target=\"_blank\" rel=\"noopener\">So You Say You Want to be a Pro Trader<\/a><\/li>\n<li><a href=\"http:\/\/www.smbtraining.com\/blog\/the-future-of-trader-education\" target=\"_blank\" rel=\"noopener\">The Future of Trader Education<\/a><\/li>\n<\/ul>\n<div><\/div>\n<p>SMB is about to announce a joint venture, JV, for our new midtown office. \u00a0As such I have spent a great deal of time with experienced traders, sifting through records of experienced traders, chatting with experienced traders, and asking and thinking about underperforming experienced traders, who can be better. \u00a0Also I was asked to speak recently in front of a crowd of bank, prop and hedge fund traders about the future of discretionary prop trading. \u00a0My conclusion? \u00a0Too many experienced traders do not have a methodology to build from their strengths.<\/p>\n<p>There is so much goodness in their trading (profitable trades) but they are not keeping enough of it, building from it, nor best understanding their strengths to improve their P&amp;L. \u00a0They are not engaging in purposeful practice. \u00a0Too many experienced traders are\u00a0over-relying\u00a0on their intuition and not tapping into the power of purposeful practice. \u00a0Said more specifically, they do not have, nor are they building a PlayBook, of their best setups. \u00a0 This is a mistake as confirmed by the performance studies above.<\/p>\n<p>Have you built a PlayBook of your best setups? \u00a0Are you archiving new ones every day? \u00a0Are you taking the most risk on your favorite setups so you are scalable? \u00a0Are you learning which trades are not worth your financial, intellectual and emotional capital?<\/p>\n<p>More about our new JV, The PlayBook, and building your PlayBook to come in the near future.<\/p>\n<p>Trade well!<\/p>\n<p>Mike Bellafiore<\/p>\n<p><a href=\"http:\/\/www.amazon.com\/The-Playbook-Inside-Professional-Trader\/dp\/0132937646\/ref=sr_1_1?ie=UTF8&amp;qid=1362680637&amp;sr=8-1&amp;keywords=the+playbook+mike+bellafiore\">The PlayBook<\/a><\/p>\n<p><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1362681466&amp;sr=1-1&amp;keywords=one+good+trade\">One Good Trade<\/a><\/p>\n<p><a href=\"http:\/\/twitter.com\/mikebellafiore\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It takes purposeful practice AND 10,000 hours to become great at anything, says this latest blog from Barking Up the Wrong Tree. \u00a0I write about one way to practice purposefully in my next book\u00a0 The PlayBook (which you can preorder), by creating your PlayBook. \u00a0I have written about other ways extensively on this blog (some examples below). Improving Our Performance &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/does-the-10000-hour-rule-apply-to-trading\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[2444,2449,4703,2448,2451,4706,4707,1718,653,2445,1989,4712,4690,1888,207],"class_list":["post-24891","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-daytrading","tag-how-to-be-a-day-trader","tag-learn-trading","tag-prop-trade","tag-stock-market-course","tag-stock-trading-education","tag-stock-training","tag-the-playbook","tag-trader-training","tag-trading-careers","tag-trading-course","tag-trading-courses","tag-trading-education","tag-trading-school","tag-trading-stocks","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Does the 10,000 Hour Rule Apply to Trading? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/does-the-10000-hour-rule-apply-to-trading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Does the 10,000 Hour Rule Apply to Trading? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"It takes purposeful practice AND 10,000 hours to become great at anything, says this latest blog from Barking Up the Wrong Tree. \u00a0I write about one way to practice purposefully in my next book\u00a0 The PlayBook (which you can preorder), by creating your PlayBook. \u00a0I have written about other ways extensively on this blog (some examples below). Improving Our Performance ... 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