I wrote this in general to give you understanding about the journey of the trader. It’s not fixed or same for everyone but generally like this, it was based on my experience. I didn’t mean to everyone, just for educational purpose and all this story is fact i did and feel it by myself.
PHASE I (the dream) – NOVICE --1-2 weeks--🙄
In this phase many people interested in invest the money, they also interested to learn by themselves. In this case, they have a big dream, they think that trading (forex, option, and stocks) is easy. Mostly they got information from IB or their friend who have been involved in forex at least 2-3 years.
PHASE II (the journey begin) – BEGINNER --1-3 months--😉
They know a little about trading and they start to spend the money to invest.
There are 2 case.
- The lucky one
In this case, they feel lucky because what they invest grow over a month. They usually will invite their friend to join with them, or they will add more capital to gain more profit from it. If it happens mostly the phase will be end on here, they won’t learn anything from it. The different with real investor is the lucky one usually use standard investment in the instituion ($5000 - $25000) then investor will calculate it all the risk and the capital more than the lucky one. Another different is investor has the limit of profit and risk, then the lucky one hasn’t.
- The Pesky
Usually their account will blown up within 3-40 days. Because they don’t know, they were curious and want get revenge for losing money. Mostly they decided to learn more and become newbie.
PHASE III (the rat wheel) – NEWBIE --2-4 years-- 😂
The Pesky who change into curious spirit, pesky + emotion = curious spirit, in this case, they are like ghost, they hunt many techniques, they read many information about trading, they will run in the rat wheel, they will join many educational trading buy some books, buy an indicator, buy Eas, to learn everything in forex just to return their lose and fulfil the curiosity....
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PHASE IV (the test) – EXPERIENCED --1-2 years—😁
In this phase the spirit already back to the body, they know what should they do, they got enlighment. They have own system (not just strategy), but the problem is when they try to use their own system, they got nuisance from the outside (other profitable system, got loss some trade, they got bullied from friend, etc).
PHASE V (graduation) – THE EYE 😎
After they passed the last examination about testing their own system. Now, they will choose their fate (become silent, become investor or being part of the bank), because in this case the market like their eye, whenever the market go they know and will follow...some of them who i met, had 85-100% win ratio with low open position per month (20-50 open position per month) with low DD
In this case, majority of trader in this world (including me) still on phase III or IV, its okey just keep going find your own system. For beginner just want to start you can determine its worht it to do it with the long process that you should take a part.
I am sorry for my bad english and explanation, please forgive me if there is wrong word or bad words of me. Once more its very subjective you might disagree with me. Feedback was expected from you
If its very useful thats great, thank you...
I am just a human who not perfect, perfect is only GOD.... #behappyalways #enjoythejourney
peace be upon you😄
Be Grateful and Happy always