Evolution of a Trader
1. We accumulate information - buying books, going
to seminars and researching. 2. We begin to trade with our new
knowledge. 3. We consistently donate and then realize we may need more
knowledge or information. 4. We accumulate more information. 5. We switch
the markets we are currently following. 6. We go back into the market and
trade with our updated knowledge. 7. We get beat up again and begin to
lose some of our confidence. Fear starts setting in. 8. We start to listen to
outside news and to other traders. 9. We go back into the market and
continue to donate. 10. We switch markets again. 11. We search for more
information. 12. We go back into the market and start to see a little
progress. 13. We get over-confident and the market humbles us. 14. We
start to understand that trading successfully is going to take more time and
more knowledge than we anticipated.
MOST PEOPLE WILL GIVE UP AT
THIS POINT, AS THEY REALISE WORK IS INVOLVED.
15. We get serious and start concentrating on
learning a real methodology. 16. We trade our methodology with some
success, but realize that something is missing. 17. We begin to understand
the need for having rules to apply our methodology. 18. We take a sabbatical
from trading to develop and research our trading rules. 19. We start trading
again, this time with rules and find some success, but over all we still
hesitate when it comes time to execute. 20. We add, subtract and modify rules
as we see a need to be more proficient with our rules. 21. We feel we are
very close to crossing that threshold of successful trading. 22. We start to
take responsibility for our trading results as we understand that our success is
in us, not the methodology. 23. We continue to trade and become more
proficient with our methodology and our rules. 24. As we trade we still have
a tendency to violate our rules and our results are still erratic. 25. We
know we are close. 26. We go back and research our rules. 27. We build the
confidence in our rules and go back into the market and trade. 28. Our
trading results are getting better, but we are still hesitating in executing our
rules. 29. We now see the importance of following our rules as we see the
results of our trades when we dont follow the rules. 30. We begin to see
that our lack of success is within us (a lack of discipline in following the
rules because of some kind of fear) and we begin to work on knowing ourselves
better. 31. We continue to trade and the market teaches us more and more
about ourselves. 32. We master our methodology and our trading rules. 33.
We begin to consistently make money. 34. We get a little over-confident and
the market humbles us. 35. We continue to learn our lessons. 36. We stop
thinking and allow our rules to trade for us (trading becomes boring, but
successful) and our trading account continues to grow as we increase our
contract size. 37. We are making more money than we ever dreamed
possible. 38. We go on with our lives and accomplish many of the goals we had
always dreamed of.
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