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Simple Steps Of The Successful Trader Formation

1. We accumulate the information on trade – we buy books, we visit seminars, we read articles.

2. We start to trade, using “new” knowledge.

3. We consistently lose money and we start to understand that to us, probably, it is necessary more knowledge and the information.

4. We accumulate more information.

5. We are switched to other trade instruments.

6. We come back to the market and we trade with use of our “renewed” knowledge

7. The market again “beats” us and we start to lose a part of the confidence. The fear starts to come.

8. We start to listen to analysts and other traders.

9. We come back to the market and we continue to lose money.

10. We again change trade instruments.

11. We search for more information on trade.

12. We come back to the market and we continue to lose money.

13. We become “self-confident” and the market “punishes” us.

14. We start to understand that the trading success demands from us more time and more knowledge, than we expected.

Many traders stop at this stage

15. We become more serious and we start to concentrate on studying of “real” methodology.

16. We trade on our methodology with certain success, but we understand that something doesn’t suffice.

17. We start to understand that it is necessary to have rules of application of our methodology.

18. We temporarily cease to trade, to develop and research our rules of trade.

19. We start to trade again, this time with application of rules and we achieve certain success, but frequently all of us still fluctuate, when there comes time to perform the transaction.

20. We add, we clean and we correct rules as we see necessity to be more skilled concerning rules.

21. We come back to the market and we continue to lose.

22. We start to bear responsibility for results of our trade as we understand that our success depends on ourselves, instead of trading methodology.

23. We continue to trade and become more skilled concerning the methodology and the rules.

24. When we trade, all of us are still inclined to break the rules, and our results are astable.

25. We know that we are close to our purpose.

26. We come back and we research our rules.

27. We acquire confidence of our rules and we come back to the market to trade.

28. Our results of trade are corrected, but all of us still fluctuate in accomplishment of our rules.

29. Now we see importance of following to our rules as we see results of our trade when we don’t follow them.

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3 Responses to “Simple Steps Of The Successful Trader Formation”

  1. Tommy Olsen says:

    In a similar manner, nations need to import coffee, coca, soyabeans and other commodities for local use.

  2. Blaise says:

    Hal Chapman, owner of Halcyon Currency exchange is absolutely devoted to helping his consumers succeed with his Foreign exchange EA’s that he constantly answers any questions and issues his consumers could have via e-mail or telephone support. The best Corporations will all offer you regular continuing after sales support and also provide continual updates for your trading systems to ensure you are successful in trading with their systems.

  3. mdoaks says:

    Always bear in mind the idea was employed to unravel an issue to do with the copulation of rabbits and to base your foreign exchange trading on this idea is a blunder.

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