Journey Of A Trader, Are You Ready To Make A Trade

30 Steps In Journey Of A Trader

The journey of a trader from new trader to wealthy trader is broken down into 30 steps.

  1. We buy books, take video courses, maybe go to live seminars, and study what actually works in trading.
  2. With the new knowledge we have, we start to trading. We make some money money, but also lose it back quickly.
  3. Then, you might need more information to be a better trader. We try to collect more information.
  4. It’s time for us to change the stocks we follow and trade.
  5. we again enter into market with our new system to trade again, which is better than before.
  6. We lose even more money and lose faith that we can even be traders. The truth of losing money sinks in.
  7. We follow other traders and see what they say works.
  8. Again we enter in the market, we lose more money.
  9. Change: We make a huge shift in both our style and method. We try to find out more.
  10. We go back into the market and see some progress.
  11. During a single trade, we become overconfident and put on a lot of money. The market quickly takes our money.
  12. The more we trade, the more we realize that it will take a lot of time and a lot of knowledge to do well. Most of traders give up at this point because they realize hard work is required and that this is not easy money.
  13. We start learning how things actually works. With some success, but we realize there is something missing. We start to see how important it is to follow rules when we use our method.
  14. We take a break from trading to work on and research our trading rules.
  15. Again we enter in market, this time with rules. We make some money, but we still hesitate when we decide to act.
  16. We manipulate some rules when we think we need to be more skilled with our rules. Also, We think we are very close to being able to make money trading.
  17. This is because we know that how well we follow our method and make money is what makes us successful. We keep trading and getting better at our method and rules. Still, even though we follow our rules when we trade, we still break them a lot and our results aren’t always consistent.
  18. We know we’re getting close. We go back and look at our rules. It takes us a while to be sure we understand our rules. We go back into the market and trade.
  19. Our trading results are getting more better, but we are still not sure how to follow our rules.
  20. When we don’t follow our rules, we see how our trades go when we do.
  21. We start to see that our lack of success is inside of us because we don’t follow the rules because we’re afraid. We start to work on getting to know ourselves better.
  22. There is still more to learn about ourselves from the market, so we keep trading.
  23. We learn how to use our method and our trading rules.
  24. When we start to consistently make money, we can say that things are going well for us. Our confidence gets a little out of hand, and the market tells us that we’re not good enough. Each time we do something, we learn something new.
  25. The more we trade, the less we feel, so we trade smaller. This makes us better at keeping our emotions in check.
  26. We realize that risk management is one of the most important things if we want to be a good trader. After that we start to understand that big losses will make us lose money. We trade smaller and more consistent positions.
  27. Our rules do the work for us when we trade, so we don’t have to think about it. Keep in mind that as our account gets bigger, we only increase the size of our positions as it expands. This way, our trading account keeps going up!
  28. We make more money than we think.
  29. We go on with our lifestyles and do a lot of different things we had always desired to do. 

These 30 Steps In Journey Of A Trader are very important in traders lifecycle.

Also

Top 10 Tips Why Trading with No Regrets?
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