1. To facilitate expertise, simulations have to become more challenging than the performance conditions they are intended to model.

2. The more you sweat in the practice, the less you bleed in performance.

3. Extreme challenges, once mastered, create extreme confidence.

4. The way you become automatic in your trading is to do it so often that it becomes automatic. Tiptoeing in the water never taught anyone how to swim.

5. Expertise is the ability to replicate skillful performance over time and across challenging conditions. It's a skill internalized to a point of habit.

6. It's both the quantity and the quality of rehearsals that generate expertise.

7. The active nature of trading is itself an incubator of learning because it sets you up for clear expectations and goals, rapid and detailed feedback, and ever-changing challenges.

8. Automaticity is the result of effective learning, but it is also the enemy of new learning. Elite performers are challenged to continually move themselves beyond what is automatic (their comfort zone).

9. Elite traders have an anticipatory sense - a conviction that something is likely to happen because it has happened so many times before.

10. In tradig the ability to anticipate the behavior of a competitor is key.

11. The advantage of a very short-term trader is that every trading day contains hundreds of learning trials.

12. The advice "plan the trade and trade the plan" makes sense to a position trader but is irrelevant to a scalper.

13. The longer-time-frame trader is more likely to rely upon more explicit patterns for entries and exits. Such trader behaves in a rule-governed  ways, and a large part of their success consists of following their rules.

14. The value of simulation for the long-term trader is that it permits many more learning trials than could be achieved through live trading.

15. When traders develop expertise, the markets they see are different from the market everyone sees. They have a superior ability to process performance-related information than non-experts.

16. Novice traders reason in the backward fashion. They look for information to support their opinions rather than assemble their trade ideas from the readings of the market.

17. Decisive action begins with efficient perception and organized information.

18. Where the novice thinks concretely, the expert thinks contextually.

19. Important way of developing flexibility is to practice skills with as many variables as possible.

20. Practice makes permanent: repeated, challenging experience creates fundamental changes in the way we perceive, think and act.