How to step over the 3 stages of becoming a trader usi

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How to step over the 3 stages of becoming a trader using our portal.

Level One: Unconscious Incompetence

This is the first step you take when you start trading. You think that this is a good way to earn money, because I read a lot of positive and I've heard that a friend of a friend earns a lot of money by trading. You look at the graphs: the price moves up and down - what's difficult - to fight!

Unfortunately, when you open your first positions, you do not have the faintest idea what you are trying to do. You open a lot of orders and take disproportionate risks. When you open a position and the price goes against you, you open the opposite order, then again the opposite, again and again.

You can get lucky, and it only makes it worse - the brain starts to think that it's all very easy, and you start to risk all the bigger amounts in each deal.

You try to cover your losses, doubling the lot in each new transaction. Sometimes it rolls, but more often leads to even greater losses. You absolutely lose your incompetence in trade.

This stage can last a week or two, but then you begin to realize that "something is missing" and go to the next level.

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Level Two: Conscious Incompetence

At the second stage, you understand that you need more work to trade forex and you need to learn something. You realize that you are an incompetent trader - you do not have the skills and knowledge to obtain a stable profit.

You are now absorbed in the search, and often purchase, of various systems, advisors, indicators, etc. You jump from one method to another, day after day, week after week, never using one system long enough to figure out its ability to make a profit. Every time you come across a new indicator, you think that it will change everything.

You will test the automated systems in the Metatrader tester, you will play with moving averages, Fibonacci lines, support and resistance, pivots, fractals, divergence and hundreds of other indicators in the hope that they will lead to a "magic system". You will catch the bottom and the top of the trend, trying to calculate the exact turning point with the help of your indicators, but in the end you find yourself holding unprofitable positions and even increasing them, because you are right!

You go to a chat or forum and see how others take point by point, and you want to know - why can not you? You ask a million questions, some of them are so stupid that looking back, you yourself feel a little ashamed. By this time, you reach a point where you think that all these traders who take profit deal after deal are just liars-they can not earn that much, because you've studied a bunch of systems and you can not. You know as much as they do, so they all lie. But all these traders still sit day after day in this chat and the balance on their accounts grows while your account only decreases.

You are like a child - traders who make money freely give you advice, but you are too stubborn and think that you know better - you do not pay attention to their advice and trade with increased risk. Even when everyone tells you that this is insanity - because you know better than them. You try to follow the signals of others, but nothing happens and you start paying for signals from someone else - these signals do not work for you either.

You can even pay a "guru" who promises to make you a trader. Regardless of whether a good guru is good or not, you will still lose, because you are selling the monitor, not the guru. And you still think that you know better.

This stage can last very, very long. In reality, it can take a year or even three. It is at this time that you are likely to give up and be completely disappointed in Forex.

About 60% of new traders leave in the first 3 months - they give up and it's good - themselves, think, if it was so easy to trade, we would all be millionaires. Another 20% continue to trade for about a year, and then in desperation open huge positions and lose their deposit ...

What can surprise you is that the remaining 20% will last about 3 years and only 5-10% of the remaining will continue to trade and will steadily earn.

Gradually you will begin to move on to the third stage. Perhaps you've already spent more money and time than you ever thought before you started trading. You've already lost a few deposits, dropped your hands a couple of times, but still holding on.

One fine day - in a second, you go to the third stage.

Level Three: "Eureka!"

At the end of the second stage you begin to realize that it is not the system. You understand that you can make profit using only one moving average and nothing more if you manage to cope with your emotions and carry out competent risk management. You begin to read books on the psychology of trading, identify yourself with the characters described in these books, and finally the moment of "Eureka!" Comes.

After this moment, like a new vision appears in your head and you suddenly realize that neither you nor anyone else can predict what will happen on the market in the next 10 seconds, let alone 20 minutes.

Thanks to this revelation, you stop watching what you think - what all analysts write, etc. You have become an individual with your own method of trading.

You start working on only one system, which suits your style of trading. You clearly became happier and determined your risk threshold.

You open every position, which in your opinion has a high probability of profit. If the market goes against your order, you do not start to get angry or nervous, you just calmly close the position. The next deal, or after it, or even after one, will have a better chance of success, because you are confident that your system is working.

You stop looking at the results of trading from transaction to transaction, and you evaluate the results of the week, month. Because you understand that one unsuccessful deal does not say anything.

You realized that all the trade depends on the constancy of your views and discipline in order to take all the transactions on the system, because you know that the odds of probability are on your side.

You've studied capital control and risk management from time to time, and now you feel how important it is, remembering with a smile the advice of others, from whom you waved a year ago. After all, they were right. The moment "Eureka" comes when you are fully aware that you can not predict the market. You are about to move on to the next stage of becoming a trader.

Level Four: Awareness of Competence

You open deals, every time your system signals. You close unprofitable orders as easily as profitable ones. Now you let your profitable trades grow until there is a signal to exit, taking full risk and knowing that your system brings more money than it loses.

Now you are at the point where you are most often in a loss - day after day, you will have weeks when you earned 100 points and weeks when you lost 100 points - on the whole you stopped losing money and understood the rules of the game. You still have to think over your deals and make a lot of observations, but you already start to earn more money steadily than you lose.

Your day can start with a win of 20 points, then you take 35 loss points and do not feel that you gave 20 points back, because you know that they will return to you. You begin to receive a stable profit, week after week, sometimes more, sometimes less.

This stage lasts about six months.

Level Five: Unconscious Competence

You trade as if brushing your teeth or riding a bicycle - without thinking. You are like on autopilot, you are making deals on an unconscious level. You start getting really big profits and 200 points a day do not make you more agitated than 1 point per day.

You look at the newcomers on the forums screaming "Fall Dollar, Fall!" And remember yourself many years ago.

You have mastered your emotions and your account is growing steadily.

Trading is becoming a routine - you just do your daily work.

You constantly apply the finishing touches to your trading system to extract more profit from the market without increasing the risk. Your method of trading has not changed - it just got better, now you understand what is called intuition in trading.

Now you can declare with proud head "I am a currency trader", but to be honest, you do not hurry to shout about it on every corner, because for you it is a usual job, like any other.