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Trading Tip Van Tharp The Craftwork of Trading Part 2 By Ken Long
Trading Tip
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The Craftwork of Trading Part 2
By Ken Long
If you missed Part 1, click here
If you missed Part 1, click here
The markets always offer opportunities, but to capture those opportunities, you MUST know what you are doing. If you want to trade these markets, you need to approach them as a trader, not a long-term investor. We’d like to help you learn how to trade professionally because trying to navigate the markets without an education is hazardous to your wealth.
All the beliefs given in this update are my own. Though I find them useful, you may not. You can only trade your own beliefs about the markets.
All the beliefs given in this update are my own. Though I find them useful, you may not. You can only trade your own beliefs about the markets.
The journey to developing craft knowledge has been replayed in modern movies to the point where it has almost become cheap tripe—which is a shame. Even in the various iterations of the Karate Kid franchise, some fundamental wisdom arises from the journey of the beginner to master. The novice learns self-discipline by working hard on what seems like drudgery—simple, repetitive tiring task work with no apparent pay-off until he feels like he can't go any further and then demands access to more knowledge of the master. The novice becomes an apprentice when it is revealed that the discipline of the task work and the applied self-discipline has laid the groundwork for the mastery of higher level skills which build on the basic skills and movements that have now become second nature and can be performed without thinking.
The apprentice accepts that the path will lead to mastery and proceeds to accumulate the needed array of skills from the various disciplines of the craft. The journeyman achieves mastery in sets of skills and can be trusted to perform reliably in a growing set of discrete tasks and processes. The master brings all of the skills together, integrates them into seamless practice, and is prepared to add to the body of knowledge by having internalized the existing knowledge. The artist adds to the body of knowledge by returning to the center of it all and entering and fully experiencing the Moment with a creative, sticky mind and then emerges to describe the new insights offered by the world. And, so it goes through the continuous process of creation and propagation in the development of adaptive craft knowledge that follows and co-exists with a changing market.
This journey to self-mastery through service to a higher purpose, which is then internalized and incorporated into one's own identity is reflected across so many cultures and eras that there must be something fundamentally human about the experience. Knowing this with our head and feeling it in our heart to be true is good and helpful but even after we feel those feelings and know those facts, the work remains there, patiently waiting for us to do it. My father reminded me often that the coal won't shovel itself, taking me back to the days when my uncles would tell us about working in the steel mills and feeding the furnaces that made the steel.
One of our diligent chatroom members, who is well along the trading journey, recently did us all a service by compiling and editing a 30+ page glossary that documents the many concepts and themes we use to socialize our hands-on knowledge. It is a densely packed collection of insights and techniques that surround our adaptive trading process. It helps us make one of the most difficult tasks know to cognitive researchers: making tacit unconscious craft knowledge explicit and conscious.
As you travel your own path to trading mastery, you might enjoy the original martial arts movie that launched a thousand tributes: “The 36th Chamber of Shaolin” with the incomparable Gordon Liu. You might also enjoy the Japanese "10 Oxherding Pictures", a Zen parable of journey of self-mastery, discipline and freedom. The Chinese offer us the Journey to the West and the tale of Sun Wu Kong, the Monkey King who tamed his monkey-mind through service and realized his Buddha-nature.
The apprentice accepts that the path will lead to mastery and proceeds to accumulate the needed array of skills from the various disciplines of the craft. The journeyman achieves mastery in sets of skills and can be trusted to perform reliably in a growing set of discrete tasks and processes. The master brings all of the skills together, integrates them into seamless practice, and is prepared to add to the body of knowledge by having internalized the existing knowledge. The artist adds to the body of knowledge by returning to the center of it all and entering and fully experiencing the Moment with a creative, sticky mind and then emerges to describe the new insights offered by the world. And, so it goes through the continuous process of creation and propagation in the development of adaptive craft knowledge that follows and co-exists with a changing market.
This journey to self-mastery through service to a higher purpose, which is then internalized and incorporated into one's own identity is reflected across so many cultures and eras that there must be something fundamentally human about the experience. Knowing this with our head and feeling it in our heart to be true is good and helpful but even after we feel those feelings and know those facts, the work remains there, patiently waiting for us to do it. My father reminded me often that the coal won't shovel itself, taking me back to the days when my uncles would tell us about working in the steel mills and feeding the furnaces that made the steel.
One of our diligent chatroom members, who is well along the trading journey, recently did us all a service by compiling and editing a 30+ page glossary that documents the many concepts and themes we use to socialize our hands-on knowledge. It is a densely packed collection of insights and techniques that surround our adaptive trading process. It helps us make one of the most difficult tasks know to cognitive researchers: making tacit unconscious craft knowledge explicit and conscious.
As you travel your own path to trading mastery, you might enjoy the original martial arts movie that launched a thousand tributes: “The 36th Chamber of Shaolin” with the incomparable Gordon Liu. You might also enjoy the Japanese "10 Oxherding Pictures", a Zen parable of journey of self-mastery, discipline and freedom. The Chinese offer us the Journey to the West and the tale of Sun Wu Kong, the Monkey King who tamed his monkey-mind through service and realized his Buddha-nature.
About the Author: Dr. Ken Long retired from the Army as a Lieutenant Colonel and teaches at the U.S. Army Staff College. He is a proud father of three, a husband, teacher, student, martial artist and active trader. Ken also instructs dynamic trading workshops for the Van Tharp Institute.
Ken's next workshop is just around the corner, Day Trading Systems in March. Watch this video to hear two testimonials from students of Ken Long.
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Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
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