From sigmaoptions, this post appeared discussing mental competencies. In a first part response, I’ll look at the Greeks component. In the second, I’ll consider the actual neurological pathways involved, and why in this example, unconscious is a misnomer.
While knowing what the term is getting at, I agree it is a misnomer; in the field of options trading anyway.
He suggests that the advanced options trader is in fact utilizing some form of heuristic reasoning rather than being "unconcious". That's probably more accurate, but it sure messes with the poetry of the "unconscious incompetent => unconscious competent" hypothesis.
So how to rejig it to incorporate "heuristic"? I can't think of anything that flows and describes the progression of competency nearly so well.