EVERYTHING That Is - That isn't

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PebbleTrader
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Postby PebbleTrader » Fri May 03, 2013 6:45 pm

I agree.

Another way to think about what I was saying is like:

I could sit around on my couch and think positive thoughts and million dollars all day long, but that alone is never going to accumulate wealth. Some aspects of what the secret was saying is completely bogus.

The real secret is pretty much what you said. It's that you focus your mind on different things and when you are focused on those things all the time, it allows you to progress and think of new ideas that are related.
Life is just a journey

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Postby PebbleTrader » Sat May 11, 2013 1:44 am

Interesting article about hitting plateaus:

Element 1: Immunity
People, relationships, businesses and even physical processes become
immune to the same techniques, the same approaches, the same solutions.
Immunity is perhaps the most basic force of the Plateau Effect. Everybody
has experienced what it's like to become immune to something: maybe it's
the complements of your spouse, the smell of garlic at an Italian
restaurant, or the effects of your second beer. Immunity can be frustrating
- what worked so well yesterday just won't work today.

Solution: Diversity

Immunity's Kryptonite is diversity. You've got to shake things up and be
radical. Trying different approaches, techniques or procedures can shake
you out of an immunity plateau.



Element 2: Greedy Algorithm
The greedy algorithm is a concept borrowed from the field of mathematics.
Here's how it works: you always pick the best short-term solution and
ignore the long-term outcome. As it is in mathematics - and in life - the
best short-term solution hardly ever leads to the best long-term outcome.

Solution: Extend your gratification horizon

Short-term greed is bad but long-term greed is actually good. To get
beyond the greedy algorithm, you need to think about solutions on a bigger
timescale. Someone following the greedy algorithm (driven by short-term
greed) would never go to medical school - the student is building debt with
no income year after year. Someone who's thinking about a 10-year
horizon instead of a 1-2 year horizon sees the six-figure checks that will
eventually start coming in.



Element 3: Bad Timing
If you're working hard but you're stuck in a plateau, maybe it's as simple
as taking a break. When you do something - and more precisely, when
you don't do something - is critical. The key is to take control of when you
apply effort, not just how much effort you apply.

Solution: Wait

If bad timing has you stuck in a plateau, remember, the periods of rest and
inactivity are just as important as the periods of great effort, just as silence
between the notes is part of the music. If you use time as a tool, you can
literally wait your way out of a plateau.



Element 4: Flow Issues
Whenever things seem to be sailing along, sometimes the engine just
breaks down. Specifically, you can run into one of four dysfunctions:


Erosion: Sometimes we deplete the resources that we need to be
successful. Maybe we run out of capital, or time, or skilled workers. When
you hit an erosion plateau, progress tends to degrade slowly as some
critical resource is gobbled up over time.

Solution: Find a counterbalance, something that replaces the resource you
consume. If you can't find a counterbalance, you might not be in a plateau
at all. You may have reached a terminal point.

Step Function: Sometimes you want to add just a little more of something,
but that thing is only available in bundles. The result is a jump in cost,
effort, or benefit. We call these things "step functions." If you aren't aware
that something you need follows a step function, you can hit a plateau
because incremental investment won't lead to incremental improvement.

Solution: Try to smooth out your step function. Sometimes this can be
done by identifying some other person or business that has complementary
peaks to your own. If you can pool your resources, you can share the cost
of the step and make it look more like a comfortable ramp.

Choke points: A choke point is the part of the system that breaks first and
slows everything else down. Failing to identify a chokepoint can bring a
gushing flow to an unexpected trickle.

Solution: The trick is to find out where the choke point is and creatively
route your way around it.



Element 5: Distorted Data
We often react based on distorted data. It's like walking through a hall of
mirrors, and basing a major decision on the crazy fat (or skinny) image
you see. Sometimes we measure the wrong things or inappropriately
assess risk. In other cases, we fall victim to common psychological errors
with data, such as overreacting to the most recent piece of information
we've received, we get hung up on sunk costs, or we conform to what we
think the data is telling us.

Solution: Recognize the signal, ignore the noise

The Enlightenment brought us the scientific method because smart people
realized that they couldn't trust their own eyes. The key is to boil out the
impurities of data and recognize that you are looking through a lens that
might be deceptive. Each type of distortion has its own remedy, but the tie
that binds them is to look for a ground truth of data amidst the chaos.



Element 6: Distraction
It's easy to fall victim to the illusion of multitasking and become distracted.
Distraction is the enemy of adaptation and can lead you straight towards a
plateau. How do we know when and what we need to change to live in a
world of unrelenting distraction?

Solution: Radical Listening

If you take a page from improv comedy - where you look for the truth in
what others are saying and build on it through the "yes...and" strategy -
you get to a skill we call radical listening. It's a mode of active
engagement, where you are attuned to your surroundings, listening, and
adapting.



Element 7: Failing slow
Failing slow is natural because it's difficult to tell that a situation is
incrementally getting worse. Often the incremental worsening of a situation
happens slower than what psychophysicists call the just noticeable
difference. The just noticeable difference helps explain why we continue
forging ahead when we're in the throes of a plateau - we just don't realize
how much less we're getting for our efforts.

Solution: Fail fast

Once you understand the just noticeable difference you can counteract its
effects. By setting clear markers, you can objectively see how you're
progressing, figure out what's working and what's failing, correct it and
move on. It's important to realize if your efforts will eventually fail by
accelerating failure. This ability to fail fast is key, especially when the
problems are changing quickly.



Element 8: Perfectionism
Perfect is the enemy of good. The desire for perfection kills beginnings -
it's never the right time to start, and even if you do, a task is never
complete because it is held up to an impossible standard. A plateau of
perfection is similar to a plateau of inaction.

Solution: First Steps, etc.

Accept that perfection isn't achievable. Focus on taking the first step, and
then the next step. There are some tricks that can help, such as structured
procrastination and setting hard (but liberating) deadlines.

Understanding why we reach a plateau can help us stop wasting time on
things that we've stopped getting value from and focus on other things that
leverage our time and energy better. Instead of being stuck on a series of
plateaus, you'll find yourself scaling mountains that always seemed far out
of reach. And when you reach the peak, as all mountaineers know, you'll
see there are always new mountains to climb. This time, however, you
won't feel like you're going in circles. You'll be going up, and up, and up.

Those who master The Effect, who can identify a plateau and break
through, will leave one-hit wonders in the dust.
Life is just a journey

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Postby PebbleTrader » Fri May 17, 2013 2:57 pm

For all you tweakers out there :) At some point you are more wasting your time and not getting more impact/paid...

Image
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Postby PebbleTrader » Sun May 19, 2013 5:51 pm

Life is just a journey

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Postby judokamak » Mon May 20, 2013 7:08 am

very cool, thanks

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Postby PebbleTrader » Sat Nov 09, 2013 3:53 pm

Life is just a journey

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Postby TheRumpledOne » Mon Nov 11, 2013 8:03 pm

dchappy wrote:Recently heard that M. Parker passed away this fall ..

Quite an interesting guy ..and exceptional trader ...I will miss him .


Wow! I didn't know that.

He was quite the opponent.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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