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Tacit Knowledge and Trading

Tacit Knowledge and Trading - What traders can do to...

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Tacit Knowledge and Trading Brett N. Steenbarger, Ph.D. www.brettsteenbarger.com Note: The following is an excerpt from Nancy Einhart’s interview with Brett Steenbarger in“The Art of the Brilliant Hunch”; Business 2.0 magazine; November, 2002. Traders are like batters facing a 95-mph fastball. If they take time to weigh their decisions, it’s too late. Traders work on pattern recognition, but the very short-term trader has to internalize these patterns implicitly.
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Unformatted text preview: What traders can do to accelerate their learning is increase the intensity of their practice sessions, as an athlete would. Maybe practice trading in more than one market of simulate a whole day’s worth of trading in 15 minutes. Under conditions of high focus and concentration, after looking at pattern after pattern, decision-making becomes second nature....
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