How Trading Floor Accelerates Learning
The first key building block to developing one’s trading skill is being surrounded by successful traders on a trading floor whilst immersing yourself in an informational ecosystem that is rich with an opportunity spectrum of approaches and edges. It then requires an open mental faculty of digesting and filtering the key informational flows from the trading floor. However a trading floor that is successful without a voice is like Lewis Hamilton teaching a teenager to drive blindfolded. No matter the talent of the instructor if one cannot see or hear the teachings then there is little room to learn from someone of successful experience. Learning progress is accelerated when a trading floor has a voice and the source of the voice is a product of consistent and routined success. A trading floor voice that has a conversational real time market action nature of more than 1 successful trader then has an exponential effect of real time learning for the developing trader as it is governed by a variety of specialised market opinion in real time which provides varied angles of attack and understanding of underlying market mechanics
This running commentary when markets are awakened with systemic market volatility or a specific market that enters a new price territory that tips the hands of new market participants to create new auctioning flows can provide the required fertiliser for a developing traders curiosity of why a senior profitable trader and/or a group of traders were focusing their attention in a certain area or dynamic zone of the market. A new trader that is exposed to this focused attention in action that in essence is experienced voices casting a net over the markets movement is pure learning gold dust to the trader embarking on his career as a trader.
The key, if you want to build habits that last, is to join a group where the desired behavior is the normal behaviorJames Clear
Trading Floor learning dynamics
Beginners Mindset on a Trading Floor
However it requires a beginners mindset, a solid questioning framework and a self awareness to fully exploit one’s learning in such a dynamic environment especially an environment that also has some extremely strong characters where your identity can be hijacked and one can fall subservient to every mouse click you hear on the floor. In such an environment it is how you choose to listen to the trading floor and not to merely act but rather to listen and then digest and assimilate the rationale for the ideas that are reverberating around the trading room. It is this synthesizing process that is the first port of call for one’s rapid progression. One of our Elite Traders as you can see in multiple videos on our youtube channel or in this post how he traded China Trade Wars
Consolidating your Trading Floor Experience
The post end of day learning is then critical to consolidate the experience as if you do not not cement the learning you have lost a day of embedding patterns consciously which then makes the learning journey longer especially in cultivating your unconscious pattern recognition skills. As the processing capacity of the mind to train one’s pattern skills is most fertile at the end of your session and this is when one’s experience needs to be harvested to the maximum otherwise it’s just a day wasted of powerful full ammunition learning. Simply, we call this your end of day debrief ( which we discuss at length various approaches on our 8 week career training course ) of deliberate focused attention and meditative assimilation which we will explore later in developing core recall skills.
Removing your Trading Floor input
One of our primal instincts is benchmarking best practices and igniting the competitive spirit that exists in many high performers when part of a successful group. For this to exist on a mass scale we need to surround ourselves among top performers as it drives us to higher levels of performance. Also the constant daily informational inputs uncovers many blindspots that we may have not noticed in the trading day that may have dovetailed into our EDGE Zone sweetspot. I have seen many traders in my 16 year career who were incredibly successful on a trading floor that then left for “greener pastures” and predomantely trade on thier own slowly slip down in pnl over the next few years never eclipsing their previous performance levels. Whilst the individuals in the group consistently grow the individual that left like the lone wolf invariable starts to plateau his pnl curve. Effectively you have removed all the key inputs that helped you feel the market which includes the energy of a room which by itself is a barometer of the markets energy. I always say to our traders who are growing is keep on doubling down what you doing well and dont change the habits or design of your environment that have led to your success.