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38 Steps to being a Trader

  • #41
  • Oct 24, 2016 12:40pm Oct 24, 2016 12:40pm
Quoting gravitist
Step 39: You finally realize you're wasting your money trying to win in a rigged, fixed market like FX. Step 40: You get a real education and get a real job, one that pays the bills ( forex never will).
And may I ask, how am I going to get that education without any money? People like me, always think Stocks or Forex is the only hope to live a better life.

I have no other choice except for this one.
  • #42
  • Oct 24, 2016 12:41pm Oct 24, 2016 12:41pm
I try my best to be the best, else I wouldn't have joined this forum. Nothing else man.
  • #43
  • Oct 25, 2016 11:47am Oct 25, 2016 11:47am
Quoting gravitist
Unfortunately, the vast majority of people at FF will never make it. They will blow account after account, try system after system. Some are just compulsive gamblers - they trade forex because it's so accessible, and thus satisfies their gambling addiction. Some are just naive, not realizing that fx is the most rigged market on earth - less than 10 big banks control about 77% of the market and small retail traders have zero access to any order flow data. Those traders might do better with futures than fx, but they'll probably lose there too. I came...
I can also see why ''gravitist'' thinks this job is a scam and expects all people to fail, because he has failed himself.
  • #44
  • Nov 7, 2016 4:59am Nov 7, 2016 4:59am
Quoting Neers
38 steps to becoming a trader They are as follows: 1. We accumulate information - buying books, going to seminars and researching. 2. We begin to trade with our 'new' knowledge. 3. We consistently 'donate' and then realise we may need more knowledge or information. 4. We accumulate more information. 5. We switch the commodities we are currently following. 6. We go back into the market and trade with our 'updated' knowledge. 7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in. 8. We start to listen to 'outside...

I think I like the place of updated knowledge. In the forex, we can not stop learning. Every trade is an opportunity to learn better. The currency market is so dynamic, you can never learn enough.
  • #45
  • Feb 21, 2017 6:09pm Feb 21, 2017 6:09pm
Quoting gravitist
Step 39: You finally realize you're wasting your money trying to win in a rigged, fixed market like FX.
Step 40: You get a real education and get a real job, one that pays the bills ( forex never will).
Â
Step 41. you realize that there are times when NOT to trade
42: you ignore Gravitist
43: you ditch your job, hopefully soon and dedicate the necessary 3 hours a day to forex, rest - enjoy.
Â
I'm at 42:
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Demo is + 658%. When reach 1000% will go to step 43. Real is slower of course.

Â
I'm kidding. 35 around there. Few edges to sharpen.
Beware of robber banks (RB), bad advisors.
  • #46
  • Feb 22, 2017 2:41pm Feb 22, 2017 2:41pm
Quoting Noorx
{quote} And may I ask, how am I going to get that education without any money? People like me, always think Stocks or Forex is the only hope to live a better life. I have no other choice except for this one.
If I must add here, the question now is; haven't you made enough from forex to get get educated? And maybe one would also, if you are not educated at ll, how did you then make it in forex, because you need education too, some basic ones.
  • #47
  • Feb 22, 2017 4:46pm Feb 22, 2017 4:46pm
This list covers many aspects for a trader, to learn. Very accurate, maybe not in the order of the list itself but as a trader goes through these aspects, he will grow.

This of course takes time for a trader to reach, these attributes, just like any profession, takes time.

Personally, Im around the 34-36 range. I haven't started to make endless amounts of money, I would assume 50k+ a day?

Literally dreaming thou!
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Learn, a forex trader must, unlearn and relearn he will.
  • #48
  • Dec 13, 2017 11:08am Dec 13, 2017 11:08am
Step 15, although in my mind i have never given up since i started with Binary Options in 2012. I've tried all sorts of things like signals, auto trading by sending my money to 'friends' who trade, EA's, but now i am going to get a course and do it properly. It's what i've been told all along this journey but i've always tried to do it my own way and look for short cuts.
  • #49
  • Dec 13, 2017 11:20am Dec 13, 2017 11:20am
i go back and forth from step 37 and 13 a lot...
  • #50
  • Dec 15, 2017 5:21pm Dec 15, 2017 5:21pm
Quoting Neers
38 steps to becoming a trader They are as follows: 1. We accumulate information - buying books, going to seminars and researching. 2. We begin to trade with our 'new' knowledge. 3. We consistently 'donate' and then realise we may need more knowledge or information. 4. We accumulate more information. 5. We switch the commodities we are currently following. 6. We go back into the market and trade with our 'updated' knowledge. 7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in. 8. We start to listen to 'outside...
Jumping between 34 and 35.
You're going to pay a price for every bloody thing you do and don't do
  • #51
  • Dec 16, 2017 1:40am Dec 16, 2017 1:40am
Quoting Not-KPMG
42: you ignore Gravitist
Ignoring naysayers and trolls is step #0. If you take them seriously, you might as well not bother starting out at all.
  • #52
  • Dec 16, 2017 2:02pm Dec 16, 2017 2:02pm
I think I am at the step 30 and I think this is the mos critical step.
Imparo ancora
  • #53
  • Dec 25, 2017 5:46am Dec 25, 2017 5:46am
I guess I got stuck somewhere between the 20th and 25th level, well I guess I have a direction to grow in
  • #54
  • Jan 8, 2023 8:41am Jan 8, 2023 8:41am
keep a record of all your trading. Like Mark Says: mistakes point the way to success. Always go back to the market afterward and look back at the market and see where and when you entered the market. Draw out the area on the chart, then switch into different time frame. It really helps out to move up in the steps!

I am around step 30 now after 8 years of trading!

Ken..
  • #55
  • Jan 12, 2023 3:17am Jan 12, 2023 3:17am
This is awesome; I've never seen someone posting such information in detail, and it's like all these steps are like a beginner to advance level guide. Thank you for posting this.
  • #56
  • Jan 12, 2023 5:55am Jan 12, 2023 5:55am
XXXVII
  • #57
  • Jan 16, 2023 10:51pm Jan 16, 2023 10:51pm
At step 22, keep wondering how to grow and fortify the mentality of being a trader..
  • #58
  • Jan 28, 2023 3:32am Jan 28, 2023 3:32am
Thanks you discussed from the very root level but I am really in the range of point you mentioned from 11 to 14. These are the cardinal steps so far I think to be a good trader.
  • #59
  • Last Post: Mar 22, 2023 10:20pm Mar 22, 2023 10:20pm
Thank you for your guide. After 9 months, I think I'm at step 14 and try to find the methodology at step 15.
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