Many studies have been conducted on
expertise development and experts in various fields and today psychologists have
a very good understanding about what makes an expert an expert.
The difference between an expert and a novice is that a
novice has not acquired the “Schemas” of an expert. Novices are highly conscious
of the process and the rules involved in performing the task Experts rely much
more on their accumulated experience or Schemas. Once you build a Schema,
any error-prone, slow and difficult task can be made smooth and effortless
The short term memory of the human brain is limited. The
complex skills we learn are stored in the long term memory as “Schemas”.
Schemas permit us to treat complex processes as a single element. They are the
cognitive structures that make up the knowledge base.
As novice traders we are trying to remember steps or
sequence or method rules. This creates additional load on our cognitive
processing. That is why we become frustrated and lose confidence. With experience, once you build a schema, performance of the task becomes automatic. This cognitive phenomenon is
called "automaticity”
There are no shortcuts in trading other than achieving “Automaticity”.
too good love this piece of note.
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ST
marvelous. explains why I tend to get frustrated when a trade goes against me.
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