Stages of a Trader

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2 years ago
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I think that all those who have come a long way in trading know that it is a really difficult path, that it is a path full of difficulties, ups and downs, fear, very extreme emotions, among others.

But if you have been trading for a long time, you also know that it is a path full of great possibilities and benefits, you know that after finding the breakeven point, your capital will be falling but like a snowball.

So, if you are new to trading, you are starting, you want to start, you already have time or you are an experienced one, stay to read a little about the stages that every trader experiences.

ROOKIE I:

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The first is the novice, he is the one who has heard about trading on all social networks, he is the one who has seen the luxurious life of many traders and all the expenses and luxuries that a trader benefits from.

This stage is very deluded, you begin to fill yourself with many illusions created by your head and you want to have that life that many traders promise you.

You start to investigate the subject, but you understand little, however you look for information but you try to find the one that is shortest and easiest because you want to save time and start.

Your expectations are through the roof, you want to eat the world because you know that you will become a millionaire quickly in trading like the traders you see on Instagram with their Porsche next to them.

This is the stage, where you decide to take the step, despite the fact that there are people who scare you about trading, there are people who warn of the risks that there may be and there are people who paint a great world of possibilities in your head.

This is where you enter the wonderful world of trading, welcome...

ROOKIE II:

At this stage, you are very positive, you already understand a little about trading, you already have a strategy found on Youtube or you bought a strategy or paid for a course.

Here, in general, you already think that you are going to conquer the world with what you know, so you are lazy to use the demo account that some platforms give you to practice and you decide to take risks and start trading.

The thing that drives you to go so fast is that you want to get rich quick, so you put all your money on the line, because you want to go as fast as possible.

At this stage, you are mostly very lucky with the first trades, they call it "beginners luck", so you see that everything is too easy and you forget the risks and only see the benefits.

But what we never know or are prepared for at this stage, is that currency volatility or mistakes can lead to what is called in trading "Burning the account" which basically means you ran out of funds.

This happens, after not having risk control, for using a lot of money without first anticipating a losing streak, you used too much leverage, you entered dubious signals just for trading and endless other things that made you burn the account.

Already here, you realize that not everything is as easy as it seems, you realize that it is not so easy to become a millionaire and you begin to be disappointed.

ROOKIE III:

At this stage, you are totally desperate or disappointed, all that sea of ​​illusions you had went overboard, you realize that you are not a millionaire, but on the contrary, you have just lost a lot of money, so you start looking for more information to solve these problems.

You change your strategy, because according to you, the one you had didn't work, you look for other types of opinions, you start reading news, looking for something that solves that hole you're in.

You start testing many trading strategies, in that process you are losing money and downloading strategies, you become pro doing backtesting, of course you are looking for the master strategy that will help you get rich.

You burn your account again, because of course, you don't have a lot of funds to experiment with, so now you start to get frustrated.

You stop seeing charts for a few days, and bang, the operations you expected so much happen, you regret not having been aware of them and you get frustrated again, then that's where you realize that something you're doing wrong and that's when it comes to you A moment of enlightenment and you realize that you cannot make money too fast in trading, you need to be patient, you need to be consistent and not change strategies every time.

REGULAR I:

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At this stage, you no longer have those great expectations of being a millionaire and living from trading, here your mentality is long-term, you decide to wait only to operate in good trends, you already have control and risk management where you are protected, you have your strategy well-armed and you just stick to it.

But not everything is perfect at this stage, after burning your account so many times, you start to feel a kind of fear of operating and that the same thing happens to you, so this is where a stage full of fear and insecurities begins.

Here your emotions are very sensitive, you hardly sleep anymore when you are in a trade, you see any type of news that plays against the trend you are trading and anxiety begins, fear is a great friend at this stage.

You prefer to stop trading than trading, even if your algorithm indicates that it is time to trade, that is how time passes and that is how you lose time without having great results.

Regular ll:

At this stage, you decide to stop being afraid, you stick to your strategy and you become a robot that has no fears.

If there are moments where you lose, but you don't get mortified by that, since you begin to see losses as signals to be protected every time the same thing happens.

Every time you add more things to improve your strategy and you see how it really improves, you don't read negative news or don't let it affect you, you only care about operating and doing what your algorithm says.

You no longer lose a lot of money, only what you calculated to spend, you are no longer afraid to operate, you no longer operate every so often and get ahead of your strategy, you are much safer, you are not in a hurry, you are patient, you sleep peacefully, you think long term and you understand trading and that's how you fall in love with it.

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All the stages mentioned above are based on my experience, in fact, everything that I told you before has happened to me, so it is like a recount of how it has been for me to be a trader.

One of my goals is to be a professional trader, who lives only from it, so I will not rest until I achieve it, because really, after I understood it, it has been a great path of wisdom and good times for me.

I am proud of my ability to grow in it and I am sure that I will have good rewards.

It does not mean that my path is the path that awaits you if you decide to start, but here is a little storytime of how my career has been.

I wish you a nice day and hopefully one day you will be encouraged to take advantage of this time of cryptocurrencies and technology.

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2 years ago

Comments

I never trade in rookie. I hope in next time.

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2 years ago

Little by little, in snail steps you arrive!

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2 years ago

I'm still a rookie in trading. I thought I knew it all lol!

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2 years ago

Soon you will be an expert living on cryptos

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2 years ago

Oh dear Mafer, you said very well. I, too, have made all these mistakes and risks in the past as a trader. I wanted to make a profit very soon and overnight. I did a lot of costly experiments, to the point that I was really scared to continue, and I gave up trading. It's great to have such a big goal. I pray for you to be very successful, and to see your more and more success... ☺️

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2 years ago

I love having a friend who has been through the same thing as me, it's exciting to imagine the two of them growing up!

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2 years ago

Mucha informacion para mi debil mente jajja, me tienes que dar clases paso a paso con manzanas para que yo pueda entender jajaja

$ 0.02
2 years ago

Cuando quieras:) todos somos capaces de poder hacerlo, solo se necesita un poco de paciencia y controlar las emociones

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2 years ago

You have analyzed all stages of being a trader and it start from being a novice to an expert who isn't afraid to lose but never give up. Thanks for sharing.

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2 years ago

That's right, something that characterizes me is that I never give up when I really want something, anyway, I do it

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2 years ago

I love your breakdown, Mafer. For me, I may be as bad as rookie 1 haha

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2 years ago

Dear, you will soon be at expert level as long as you keep moving forward and want to do it, 100% recommended

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2 years ago

Thank you!

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2 years ago

When I got interested about trading I reached rocky 11 and stop as I felt disappointed when I gain nothing. Hopefully I have a mindset like you, brave enough to see my money dropping 😁. Anyway I enjoyed reading your article. I found it inspiring.

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2 years ago

That is the problem, we only want to win but we are not willing to lose, in trading the more you lose the better your strategy will be to return it to income

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2 years ago

excellent article I find it very important, I invite you to see my work . https://read.cash/@misterminds/you-will-never-go-wrong-doing-the-right-thing-96ee6c32

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2 years ago

Of course friend, we will support you:)

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2 years ago

I am not yet into trading, hehe not ready😂

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2 years ago

Those desires come by themselves, when it happens you will see a great crypto world

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2 years ago

Days of little beginnings really matters It takes alot patience and hardwork for one to be come to the top. But at the end, you would be glad you did.

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2 years ago

Yes, I think that the most difficult thing is to start, that moment of taking off is the most difficult

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2 years ago

I am not expert in trading but has experience.

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2 years ago

If you can share it with us it would be very helpful.

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2 years ago

I don't think I'm an expert in trading and I don't really know how it works, but the stages that you remember, I've seen many go through and they are completely real

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2 years ago

That's right dear, many have this experience in cryptocurrencies because we normally act on impulse and emotions

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2 years ago