Why Training is Required to do trading?

How much training you need depends on the job you want. If you want to be a janitor, an hour of training might do. Just learn to attach a mop to the right end of the broomstick and find a pail without holes.If, on the other hand, you want to fly an airplane or do surgery, you’ll have to learn a great deal more. Trading is closer to flying a plane than to mopping a floor, meaning you’ll need to invest a lot of time and energy in mastering this craft. Society mandates extensive training for pilots and doctors because their errors are so deadly. As a trader, you are free to be financially deadly to yourself—society does not care, because your loss is someone
else’s gain. Flying and medicine have standards and yardsticks, as well as professional bodies to enforce them. In trading, you have to set up your own rules and be your own enforcer. Pilots and doctors learn from instructors who impose discipline on them through tests and evaluations. Private traders have no external system for learning, testing, or discipline. Our job is hard because we must learn on our own, develop discipline, and test ourselves again and again in the markets.
When we look at training for pilots and doctors, three features stand out. They are the gradual assumption of responsibility, constant evaluations, and training until actions become automatic. Let us see whether we can apply them to trading.
1. The Gradual Assumption of Responsibility
A flying school doesn’t put a beginner into a pilot’s seat on his first day. A medical student is lucky if he is allowed to take a patient’s temperature on his first day in the ..

Read the Full Story