1. The first stage: Unaware incompetence.
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it is the first step when you are starting being interested in a trade. You know that
it is a good way to earn money since you could hear to this topic
many things and you know about many millionaires who in this way made a fortune.
Unfortunately, as similarly as in the moment when you want to teach to behave
car you think that it will be simple - except for it you think for yourself "what including difficult?" - prices move once up, once into the bottom - which is the one
great secret? - right away I will bite the market into!
Unfortunately, as similarly as with car, when you will sit down behind helms
you will reach a conclusion that you not have a clue what actually you are planning
to do. You contain the plenty of risky transactions. When position whom
you opened isn't going after your thought you are filling the opposite position and the market still isn't selling after your thought... and so on.
You are trying to do losses doubling the stakes. You sometimes make a success of it but
much you more often take note of losses and you are irritated.
So it is the first stage - you are completely unaware one's
of Incompetence in the trade. It usually lasts the week or two. You are going
till the second stage.
2. The second stage - Conscious incompetence.
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you realize that the trade requires the contribution of the bigger work and he is
many things on whom you must do some work.
You are realizing that you are an incompetent salesman - you are lacking
of the ability and character in order to reach regular profits.
During this stage you are buying systems and the plenty of ebooks, you are mistaken after
online service centres to the topic tradingu. You are starting searching for "saint
" grala.
At that time you are becoming "with system" whore (przyp. suppress.: so there is
written) - every day you try other method and you are never focusing
enough long on one system in order to state whether indeed
happen/not cannon. Every time you are coming across the new indicator
you are becoming his enthusiast - it is the one one whom everything is changing.
You are testing automatic systems in the MetaTrader program, you are playing based on moving averages, lines of Fibonacci, levels of the support and the resistance,
fractals, divergences, DMI, ADX and many other things. Everything in the hope of you discovering own "magic" system already today.
You are playing on peaks and holes trying to find the accurate point of the reversal of the trend with the help of different indicators. You are discovering that still you are losing
money even though you are sure that you are acting correctly.
You are going to poczatować live and you can see other traderów talking about
one's profits. You are thinking why you aren't one around of the ones
of lucky ones. You are setting million of questions, some are so stupid that as far as
funny (what you will notice only in the future when for oneself about them
you will remind). you are coming up to the point into whom you think that everyone for you who
are boasting about their results these are ordinary liars and swindlers - cannot earn
of such money - you are studying still and you aren't earning.
You think that you know so much what they and what they are saying are simply lies.
But they here are every day and sums in their account still are increasing while on your are decreasing.
You are as the teenager - traderzy who are earning money are granting you
of free advice but you are stubborn and you think that you are always knowing better.
You aren't paying heed for turning them over and you are still more riskily playing in spite of
everyone are warning against it - but you know better.
You are following given signals through other. But if the ones not
are bringing expected results you are seeking alternative sources
signal whom you are paying for - but the ones are also out of order
this stage can last for years - however can last e.g. a little bit over the year - I
I experienced this stage for 18 months.
After all you have this stage behind you. You probably lost more time
and of money than for yourself you could earlier imagine. You lost money on
two or three accounts whom you established. 3 or you wanted 4 times to give up
and to stop playing.
The third stage came
3. The third stage - eureka!
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at the end you are starting noticing the second stage it is doing not a system
difference.
You notice that earning money is possible using exclusively around
of moving averages. If you will be obeying principles of managing
with capital and appropriately you will approach the matter.
You are starting reading books about the psychology of the trade and you are identifying yourself around
with characters described in these books
a moment in whom you can shout is coming - eureka!!!
Of this name therefore I used because of the revolution who made itself in your
of brain. You are starting thinking totally different than earlier.
Suddenly you are making yourself aware that apart from you, nobody else is in the state
to forecast the movement of the price in the sequence of 20 most recent seconds, not mention 20 next minutes.
You are starting using only one system whom your way is reflecting
of trade. You are happy and you are defining the own threshold of the risk. You are opening positions every time your system is showing big
probability for making a profit.
When the trade is going badly you aren't upset by it unduly since you know that
you could not predict it and it is not a your fault. You are closing lossy positions
so quickly as it you only realize that they are not good. Next
the transaction will be having a very good chance of the success since you know that
your simple system applies.
You realized that in the trade two things were most important -
the consequence and the discipline.
You are learning actually to manage capital and the risk - will lift etc.
etc. - now fully you understand it and when you are thinking about the ones who got by for you
who only now is practicing the smile is turning up to the face.
Then you weren't ready but now you are already.
Moment eureka! he is coming when really you are reconciling yourself to the thought not
you can predict preservations of the market.
And then the fourth stage is beginning.
4. The fourth- stage Conscious Competence
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Ok, now you are carrying out a transaction as soon as your system is generating the signal
you are taking note of losses with the same easiness as profits.
You let profits grow fully accepting the risk of their prospective damages. You know that your system is able to earn more money than them
to lose. When you can see that the position is lost quickly you are locking her up in order to
your account a lot didn't suffer harm because of it.
You are now in the point in whom you will be earning - there will be days of the success and
days of defeats, you will have weeks in whom you will earn 100 pipsów and
weeks in whom you will lose 100 pipsów - generally you will more often be
to earn than to lose money.
You are conscious of the fact that you are filling positions whom into the majority they are bringing
profits. You are gaining the respect rapidly other such a traderów what you had to
of them at one time.
Still you must work above it and think about your transactions but
still you will be earning more than to lose.
You are starting the day around 20 of pipsami profit, next you are losing 35 pipsów but not
you are upset by it unduly. You know that next time you will do them.
You will start getting little but regular profits. Of one week
you will earn 25 pipsów, next 50 and so on...
This stage is usually ending after six months
next the fifth phase is coming
5. The fifth phase - Unaware competence.
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it as this way as with cooking or a drive in a car. Every day you will sit down
in front of the computer in order to start the trade - now you are doing everything unwittingly
but with competence. You are acting as the autopilot. You contain wonderful transactions earning 100
pipsów per day. It is becoming normal for you. It is already a routine.
It is exactly a pipe dream tradingu - you are having control of your emotions and you are
traderem with the quickly growing account.
You are a star of the commercial chat and people willingly are reading what you have to
sayings. You are getting to know yourself when you are reading similar questions to of the ones who
alone you set it two years.
You are handing over one's knowledges other but you know that the majority from them thinks as
teenagers and explaining to such people certain things are vain -
some of them will achieve what you reached - some will reach it
earlier, some later - literally hundreds of thousands of people never not
will survive throughout the second phase yet for many people it is thriving.
Trading more won't already be exciting. He will become boring - the same as
everything in the life, when you are good at something or you perform your work
- it is tiresome. You simply perform your work, as for it is you
belongs. That's all.
Now you can with the raised head high say "I am traderem.
He is trading in currencies. "
