The Things You Know Best...
...are the things you do best!
Anytime you hear someone playing fast and smooth, with that apparently effortless flow, you are witnessing someone playing something they've probably played many, many times; a technique, style or lick that they've worked with for so long it that it is second nature to them.
Here are some tips on how to achieve effortless speed with a smooth flowing sound:
1. Play something you've known and done for the longest time-
That was 30 years ago, so there's no getting around the fact that I am more comfortable with this scale, I can play it faster, improvise with it easier, and recognize it more easily when I hear it, than with any other scale. So it should be no surprise that the first really fast lick in the song "You Ain't Right" from my CD FIRST LIGHT fits right into that pattern. Here it is- key of G minor, root on 6th string, 15th fret:
Connect all four sections into one continuous run.
Of course, with the minor pentatonic scale there is the risk of playing the same licks you and everybody else has done a million times- every lead guitarist seems to learn this scale first, so everybody uses it! Making it sound fresh and exciting is a challenge, but it can be done; just check out any Stevie Ray Vaughan album.
Related to this are memorizing, visualizing and inner hearing which are related to each other: You've got to know the thing so well that you can play it by memory, and be able to picture your hands playing it in your mind, and hear how it sounds in your mind.
2. Use slurs: hammer-ons, pull-offs and slides- picking every note of a fast lick is tough, and sometimes it can just sound unpleasantly choppy. "Slur" is the general term for methods of connecting notes with a smooth, flowing sound known as "legato". Eliminating some of the pick strokes also makes string crossing a little easier. As you can see, the previous example is packed with slurs.
3. Use a symmetrical repeating fingering- Again you can get caught up in this kind of thing, but it's a valid tool if used in moderation. Here's an example from the very next phrase of the YAR solo:
There are other speed tips, but you should get the idea- and this is worth repeating:
There is the occasional exception, that rare guitarist that seems to be born with incredible aptitude, requiring hardly any time and effort to achieve that level of easy virtuosity.
But even then, there are some things that just don't come easily to any guitarist, due to the plain technical awkwardness of the instrument. What does that mean for the vast majority of average players, struggling for every small advancement?
It means that if you want it, you've got to work for it! Sorry, but look at the reality: if it's not coming naturally to you, if it seems difficult and slow to develop, then you've got to dig in and start thinking long-term. Accept that it takes consistent, daily practice, guided by a teacher if necessary, over a period of months, even years sometimes.
What is "it", anyway- what are you trying to achieve? Be clear about that, and decide how much of your time and energy you are prepared to dedicate to the goal. For more in-depth discussion on this issue, check out this rant!
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The first scale I ever learned was the famous minor pentatonic scale,
root on 6th string, along with its typical extensions: 
Anytime you hear someone playing fast and smooth, with that apparently effortless flow, you are witnessing someone playing something they've played many, many times; a technique, style or lick that they've worked with for so long it that it is second nature to them.