Trading Success Isn't As Smooth As You Imagined!Hi traders, here we are on another workshop. In this workshop, I will be elaborating my personal trading journey with my sincerest opinion. Here are 5 stages you will go through becoming a Consistently Profitable trader
Phase 1 - Constantly losing big
• This phase is where your trading journey begin. You're filled with passion, your subconscious & conscious mind are blinded by the imagination of trading success.
• You believed that trading isn't that difficult, and you're one of the top 10% that will achieve consistent profitability within a short period of time. Most of my students and members approached me during their first year of trading, fueled with passion, and thought that they should be achieving their trading goals with limited effort. But the ugly truth is, 80% - 90% of them got smashed by the markets pretty harsh, and left trading later on.
• You have no idea what you're doing, you have little to no knowledge and experience.
- If this is you, what you should be doing now, is to absorb information like a sponge and keep striving.
Phase 2 - Losing less
• This is when you come to a realization that you're no different than most of the traders. You're probably scared by the markets, you begin stepping back a little bit.
• You realized if you keep doing what you're currently doing, it's just the matter of time you will blow up more accounts again, and again. You clearly know what you're not supposed to do and what you're supposed to do, but with a
lack of direction. You absorb everything and you test out whatever information you received. You jumped from strategy to strategy, courses to courses, and webinars to webinars.
- If this is you, you should be focusing on identifying your strength & weakness, and stop confusing yourself with overloaded information. Spend more time on reading yourself, and admit your mistakes.
Phase 3 - Breakeven
• Most traders at this stage have a clear goal and understand what they're doing wrong. But most of them have no clear direction and resources on where and how to begin with.
• You probably have a proper trading plan, money management skill, and a healthy mindset, but you just need guidance.
- If this is you, I'd suggest you to find mentorship to fast-pace your learning curve. List out all your strategies to examine which one works best by reviewing your journal.
Phase 4 - Inconsistent wins
• If you're able to achieve this phase, you are one of the very top traders.
• Traders at this stage should have a proper trading plan, a specific trading system/ style, with an unbeatable mindset. Remember to NEVER distract yourself again with excess information.
- If this is you, you should be working on refinement and improvement. Focus on the details such as the probability of success on each setup, breaking them down into various parts, such as entry timing, effective Trade Management
(Scale-in & Scale-Out), exits, etc...
- If you are at this stage, remember to NEVER distract yourself again with excess information. Focus.
Phase 5 - Consistently profitable
• Successful traders 'dance' with the market. Trading has become a systematic process with little to no emotion attached.
- What you need to do now, is to focus on scaling up your trading size. You can either compound your account slowly, or start building a solid track records and start finding potential investors. Good traders always trade big, because the ultimate goal of trading is to make money.
Do not have the misperception that once you've reached the consistently profitable phase, you should be making a lot of money. Good traders are those who never deviate from their trading plan, with consistency and full of motivation. It's always fine to step back a little bit, as long as you're progressing.
Comment down below where are you at in your trading journey!
Do not forget to like if you enjoy the sharing. Trade safe and take care.
