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Trading as a Performance Sport

Trading as a Performance Sport - Trading as a Performance...

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Trading as a Performance Sport Brett N. Steenbarger, Ph.D. www.brettsteenbarger.com This is a draft of an article that appeared on Linda Raschke’s website at www.lbrgroup.com . For the past 15 years, I have served as a therapist, counselor, mentor, and advisor to the medical students and physicians at an academic health center. Most of the people I work with are bright, motivated, educated individuals who are free from debilitating psychological problems. Their goal in counseling is to bring their performance to a higher level. They know that if they are going to be competitive in a field such as orthopedic surgery or emergency medicine, they need to be firing on all cylinders. Interestingly, their interests and needs are not unlike those of Olympic athletes, active traders, bodybuilders, concert musicians and others engaged in performance-oriented pursuits. They realize that, if they spend years honing their skills, they can ill-afford to have their state of mind interfere with their peak performance. The hypothesis I'd like to share with you is straightforward: There is a core set of characteristics that distinguish the greatest participants in any field of endeavor-including mastering the markets. If you read Jack Schwager's interviews with such accomplished traders as Mark Cook, Linda Bradford Raschke, and Mark Ritchie, you'll notice a recurring theme: success in trading is as much a function of the qualities of the trader as the system being traded. In his text entitled "Greatness", Professor Dean Keith Simonton points out that mastery of any domain requires approximately 50,000 "chunks" of information. This applies across different domains, from chess and sports to scientific research. To acquire such a wealth
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