DEFINE YOUR LEVEL

4 févr. 2022

Hello to all!
Let's talk about what levels of becoming a trader are.

LEVEL #1: Unconscious Incompetence
When a beginner enters the forex market for the first time, he thinks that it will be easy to make money.
He has heard many beautiful stories and is now ready for you to go into battle.
The price is going up! So it's time to buy.
These first steps of an incompetent trader lead to disaster: usually a loss of the deposit.
It can only be worse if the trader manages to earn something and starts to think that he understands the market.
Over time, these traders lose everything.
After a series of mistakes and losses, comes the realization of one's incompetence and the desire to become better.

LEVEL #2: Conscious Incompetence
At this level, the trader realizes that he lacks knowledge and the trader begins to study and seek…
A trader looks for the Grail, buys "super profitable" indicators, learns trading methods and changes them every week without understanding.
A trader experiments with indicators, Fibonacci lines, each new figure of technical analysis seems to be the one that will lead to success.
The trader is looking for a bottom, an ideal entry point in the market and loses money again.
This level can last for several months or even years.
The trader will study, search, be disappointed every day.
It is at this stage that most of the players leave, who do not believe that it is possible to make money on the market.

LEVEL #3: “Eureka!”
At the end of the second level, the trader begins to understand that it is not a matter of strategy, but of psychology.
The trader begins to realize his mistakes and realize that he was succumbing to emotions that were blinding.
The trader begins to study books on psychology and find his mistakes on the pages.
At some point comes the realization that the future movement of the market is impossible to predict.
The trader chooses a strategy that suits him and determines the risks for himself, trading becomes easier.
Negative transactions do not upset, because the trader understands that the strategy works and sooner or later the trader will take his toll, you just need to act according to the strategy.
A trader has learned to manage risk and learn the discipline to follow a strategy clearly.

LEVEL #4: Conscious Competence
A trader opens trades when the system gives a signal.
A trader easily closes losing positions when he realizes that the market is moving against him.
The trader allows profitable trades to grow, and cuts unprofitable trades.
Most likely at this stage, the trader will trade at zero, learn not to lose money, understand how the market works.
Losses do not bother, but the trader allows profits to grow, and this can continue for about a year.

LEVEL #5: Unconscious Competence
Trading is easy and unconscious.
The trader, as if on autopilot, opens and closes transactions and does not feel emotional swings.
The trader mastered his emotions.
100 pips of profit don't turn the trader's head like before.
Trading becomes work.
The trader does not stop developing and analyzes each trade in order to improve the system.
And the trader likes all this, because it is still a very exciting journey, which now brings money to life.

Conclusion
Trading is not easy, but it can be learned.
It should be understood that the main enemy in the market is your emotions.
Do not lose control over yourself, study, analyze, follow the strategy and then you will succeed.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩