5 Ways To Speed Up Your Journey

Feb 16, 2024By The Kaizen Trader


I am sure you have all heard of the 10,000 rule?

This principle  suggests that achieving mastery in any field requires approximately 10,000 hours of deliberate practice. Translating this to trading, one might consider the notion of conducting 10,000 trades as a means to proficiency. If we assume an average of 250 trading days per year and take two trades daily, it becomes evident that reaching the 10,000-trade mark could span roughly 20 years. However, this timeline can be significantly accelerated through the strategic acquisition of feedback.

Practicing with a purpose stands as a cornerstone in this journey. Relying solely on live trades for feedback overlooks abundant opportunities for improvement. Utilising software platforms to replay historical market data enables traders to take trades at an accelerated pace, potentially exceeding live market participation by tenfold.

Trading view, Tradezella, FX Replay are just a few examples. 

Furthermore, engaging in chart markups fosters deeper insights into price action, technical indicators, and fundamental drivers. This meticulous analysis not only hones chart reading skills but also facilitates the collection of valuable data for further analysis and feedback generation.

Incorporating screen recording as a feedback tool is a valuable addition. For traders operating on suitable timeframes, recording their screens during trading sessions opens up a new avenue for self-assessment and improvement. By capturing their trading activities, traders can meticulously review each trade, identifying missed opportunities, suboptimal entries, or premature exits. This detailed scrutiny allows for a granular examination of decision-making processes and market dynamics, enabling traders to pinpoint areas for refinement. Moreover, the ability to replay trades repeatedly enhances the learning process, facilitating deeper insights and fostering a heightened awareness of trade execution nuances.

Beyond individual practice, fostering a sense of accountability within a community or with an accountability partner amplifies the feedback loop. Collaboratively sharing insights and experiences not only lightens the individual workload but also provides diverse perspectives and feedback on various aspects of trading.

Additionally, seeking guidance from a trusted mentor or coach offers invaluable support in navigating the complexities of trading. Mentors, often possessing years of experience and success, provide personalised feedback, helping traders identify strengths, weaknesses, and areas for growth.

The importance of mentorship cannot be overstated. In various domains, from athletics to business, mentorship remains a common thread among successful individuals. Mentors offer guidance, wisdom, and encouragement, steering aspiring traders toward their goals with clarity and purpose. Their seasoned perspective and constructive criticism serve as catalysts for improvement, accelerating the journey towards mastery.

In conclusion, maximizing feedback serves as the linchpin for accelerating improvement in trading. By diversifying feedback sources, traders can exponentially hasten their growth trajectory. Use the actionable approaches below as stepping stones towards consistent profitability in the dynamic world of trading.

- Chart replay functions

- Chart mark ups

- Screen recording live trades

- Join a community

- Find a mentor