A New Traders Journey to Success

I prefer the original from which the author has borrowed liberally. This has been floating around for a while, I first read it in a Larry Connors book about 6 yrs ago:

The Four Stages of Learning

First is "Unconscious Incompetence" - A child feels he can drive a car because he has no idea what it actually entails. 2nd stage is "Conscious Incompetence", when you acknowledge you are inept - The first time a teenager actually tries to drive. The third stage is "Conscious Competence", when you are skilled enough to do the job but have to give it 100% of your concentration - The first few months after first learning to drive. (I remember as a teenager, when I smoked, I couldn't drive on the interstate and smoke a cigarette until several weeks after I got my license.) And the final stage is "Unconscious Competence", when you can do the task w/o thinking - After driving all my adult life I now drive to the store and later may not even remember I made the trip.

H
 
Quote from hcour:

I prefer the original from which the author has borrowed liberally. This has been floating around for a while, I first read it in a Larry Connors book about 6 yrs ago:

The Four Stages of Learning

First is "Unconscious Incompetence" - A child feels he can drive a car because he has no idea what it actually entails. 2nd stage is "Conscious Incompetence", when you acknowledge you are inept - The first time a teenager actually tries to drive. The third stage is "Conscious Competence", when you are skilled enough to do the job but have to give it 100% of your concentration - The first few months after first learning to drive. (I remember as a teenager, when I smoked, I couldn't drive on the interstate and smoke a cigarette until several weeks after I got my license.) And the final stage is "Unconscious Competence", when you can do the task w/o thinking - After driving all my adult life I now drive to the store and later may not even remember I made the trip.

H

Good stuff here!
 
I was referred by a forum member to this thread. It was indeed a good read.

I am new in trading, but I guess I am kind of mix of step 1 to 4. Does every successful trader follow the same route? I'd like to challenge it. Maybe market will bite me really hard (it bite me really hard once, and I lost 50K), now I am starting over. If I got bite again, then I will call quit:-)

freewilly
 
Quote from freewilly:

I was referred by a forum member to this thread. It was indeed a good read.

I am new in trading, but I guess I am kind of mix of step 1 to 4. Does every successful trader follow the same route? I'd like to challenge it. Maybe market will bite me really hard (it bite me really hard once, and I lost 50K), now I am starting over. If I got bite again, then I will call quit:-)

freewilly

Im pretty sure ever trader has their own stages but the article brushes through some good points. Im curious to know the average time it takes for a trader to reach peak level?
 
Quote from plungerx:

Im pretty sure ever trader has their own stages but the article brushes through some good points. Im curious to know the average time it takes for a trader to reach peak level?

I would say 3 years if your full time, and expect to blow up once or twice at least, as this afterall is your tuition fee.

I'm sitting on stage 5 ... looking over the hill to stage 6.

One thinkg I can say is good trading is boring, and I have to look elsewhere for kicks nowadays.
 
Quote from Kap:

One thinkg I can say is good trading is boring, and I have to look elsewhere for kicks nowadays.

Absolutely right! That is what I tell people who want to know how it is to trade. You must love it otherwise it is really mind-numbing, waiting, waiting and then catch fast, again waiting, waiting...
 
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