Trader Level 1
Unconscious Incompetence
Once you sign the agreement settled trades, this is where you are. You became a trader because you heard that a trader can beat the revenue income of a state director. Besides when you have profit simulation three times, then what is the big deal?.
You may be able to profit by the stunning results of 100 points to 200 points per lot per day, but it's all just beginners luck alone. You will not believe it at first, with just relying on one indicator alone, or even just by instinct , you can profit yet .
But unfortunately, the market will beat you. No successful trader only by a factor of LUCK. loss for the loss up to you, but if you try to survive until the margin out, who could stand?.
You do not realize that you could not trading, you still think you can trade even if all the facts say otherwise (whether this month's profit?, Profit last month?, This year's profit?).
You still think that you are a special person, someone who will be able to get the key to the wealth of trading. And you do not realize that 90% of traders who fail to also have feelings like that.
You do not have a system that completed, you are ruled by your emotions, you are always averaging position if the loss is because of you Anger on the market, you always take profit in small quantities or let the profits turned into losses because you are ruled by Greed, you never trading because Fear / FEAR. You let yourself ruled by emotions so that you suffer margin equity.
90% of people who trade only up to this level, they usually give up, stop trading and take this all just a bad dream. The others get plummeted morale, they are still looking for investors and trading like mad .. within a month or two months later the money was gone and they are looking for the next prey..
They still claim to be traders, but their actual executor. and usually the moral of this drop will gladly served as the broker management. and some will remain as usual and claimed ngantor trader but never trade, they usually blame themselves.
Only a matter of time, until when they can survive at this level and the time always wins.
90% of Traders at this level, and only 10% aware and move to level 2.
Level 2 Trader
Conscious incompetence
At this level you realize that you could not trading, you do not have the ability to generate trading profits consistently. And you know the solution, you realize that while in level 1 is obscured by the emotions you thought you so that you can not think clearly.
At this level you will find the holy grail (a perfect system, the system is 100% profit, the system is never loss), you start buying the existing system on the internet, you read all the websites that exist about trading from the UK, USA, Australia , Europa to Russia, you see all existing ebook, you practice all the systems that you are getting, you're thirsty for knowledge like a wanderer in the desert is thirsty for drinking water.
At this level you will read all the details about the indicators, you will test all of the indicators on metatrader, you might even make your own indicator (usually a combination of 2 or 3 indicators), you'll play with moving averages, Fibonnacci lines, pivot point, camarilla pivots, Demark, Fractals, Divergence, DMI. ADX, Bollinger Bands, and hundreds of other indicators.
You know that the market is too complicated for the Predict with only one indicator, you know the ideal combination of each indicator. You know percis indicators of excellence and also its weakness.
You will try to guess the TOP and BOTTOM of the market with these indicators. You will join a traders chat room and ask stupid questions on senior trader. because you know if you're not asking now then forever you will never know.
At the end of this level you will get 5 to 10 complete system and try to figure out which system is best suited to your personality.
Than 10% of traders on this level, only about 7% of the successful move to level 3.
Level 3 Trader
The EUREKA Moment
At the end of level 2, you finally realize the subject matter lies not in the system. You realize that you can get a profit even if only using a simple system such as moving averages without any other indicators, if you can use your head and right money management.
You begin to read on trading psychology books, and identify with the characters described in the book. Finally came the Level of Enlightenment.
This makes the brain level of enlightenment you realize one important thing in this world no one can accurately predict what will happen to the market 30 seconds later.
You begin to master one trading system and modify it to fit your character, and able to provide more profit than the original system.
You start trading if you know the probability for a larger profit than for loss, you are only trading if you get signal from your system, you always use stop losses, because you know the stop losses are business risks that exist in the world of trading.
When you hit stop losses, you are not emotionally because you know no one can predict, and it's not your fault. Will increase the probability of the next trading profits because you know your system is the profit system.
You are instantly aware that trading in the world there is only one important thing is consistency in the system, trading psychology and money management you. And discipline you to do any trading that occurs.
You learn about money management, 2% risk, and other things. and it reminds you a year ago when someone gave the same advice to you and you chose to ignore it. when it is you are not yet ready but now you're ready.
At the level of enlightenment, your brain would accept that you can not predict market movements, because no one can.
Than 7% of traders on this level, only about 5% who successfully advance to the next level.
Level 4 Trader
Conscious Competence
Okay, now you're only trading if the system give you the signal.. You cut losses as a trivial with take profit. because you know your system will give more profit than loss, and cut loss that you are doing is a business risk that is max 2% of your account.
At this level you start with a profit target of 20 points per day, and after you are able to do it consistently for several weeks, you increase the target by 40 points per day. And it was ultimately able to do.
You still have to work hard to get it, fix your system, master your emotions, and implement money management that you hold.
This level usually runs about 6 months.
Than 5% of traders only about 3% which could advance to the next level.
Level 5 Trader
Unconscious Competence
Well now you got to level 5, this is the level that most expected by all traders in the world, at this level you can trade in nature, you have mastered it all, you can be Dancing with the Market, wherever the market goes, you have an open in the correct position, so you live to see the profit you move from 2 digits to 3 digits.
This is the top level of a trader, this is the level of utopia, you have mastered your emotions and you are now trading in the account continues to grow each day from the cumulative profit that you earn.
You'll be a star in the trading chat room, and people will listen to what you say, you are familiar with their questions, because you have them positioned 2 years ago.
You will provide advice to them, but you know that most of them will not listen because they are still level 1 trader.
You will not have financial problems again, you can buy all the items available for sale, you can buy the island and trading there as long as there is the Internet network, you can move to a 5 star hotel, and became permanent residents there.
You have income like a superstar, you can create your own book, you can trade on margin without limits, and your account will be many times more than the initial account.
Only 3% of traders who can reach this level.
Now you can proudly say "I'M A TRADER".
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-By : indrafxscalping-
