Six stages of traders ( FundSeeder's education module)

[dealmaker]

1) New Trader - Recently opened account

2) Growing trader - Had account to several months to a couple of years and has had some success.

3) Successful trader - These traders have had success, likely have taken courses and have a mentor.

4) Friends & family - You should have put in place a process in respect to your trading and risk management methodologies.

5) Emerging trader - Traders who have successfully navigated the first four stages and are on cusp of a professional trading career.

6) Pedigreed Manager - A trader who is properly regulated with a strong operational foundation, a number of customers and established relationships throughout the trading industry.


from Modern Trader

 

[lawrence-lugar]

I kind of disagree with 6 and 5. -- just because you're a professional money manager...that doesn't necessarily mean you're more successful, or skilled, then a retail at-home trader trading just their own personal acct.

There is no totem pole or hierarchy structure of so-called trading success levels where you have to progress at each step.

 

[victorycountry]

1) New Trader - Recently opened account

2) Growing trader - Had account to several months to a couple of years and has had some success.

3) Successful trader - These traders have had success, likely have taken courses and have a mentor.

4) Friends & family - You should have put in place a process in respect to your trading and risk management methodologies.

5) Emerging trader - Traders who have successfully navigated the first four stages and are on cusp of a professional trading career.

6) Pedigreed Manager - A trader who is properly regulated with a strong operational foundation, a number of customers and established relationships throughout the trading industry.


from Modern Trader

I agree with 1 but I don't agree with others. Especially with number 3. What kind of courses are you referring to?
All I feel is that you're trying to give beginners some false hope.

 

[Tim Smith]

just because you're a professional money manager......

That's only true to a limited extent.

You also have to define what you mean by "successful", in a professional environment "successful" doesn't mean "make loadsa money" !

Professional money managers have many traits that many retail traders lack, for example but not limited to:

- Attitude to risk. For example, you won't find any professional money managers doing CFD trades on 500:1 leverage ... and yet you'll find retail traders doing it two a penny.

- The operational structure and discipline. As a retail trader, if you want to buy/sell something, you can do so on a whim based on nothing more than gut instinct. As a professional money manger acting on a client account, the regulatory environment demands you take a disciplined approach, and your compliance department will normally mandate you to put a file-note on a customers records explaining your every single trade you do on a customer account. You also have to provide reports to clients and be expected to run portfolios in accordance with the customers wishes, desires and attitudes to risk. If you're fund manager running a retail fund, then you'll also be expected to produce reports.

- The ability and experience to see the 'big picture'. Too many newbies get caught in the short-term noise. Professionals have generally seen it all before and know the difference between 'noise' and 'this is different'.

- Professionals know to ignore internet nonsense. ;-)

 

[recession2016]

That's only true to a limited extent.

You also have to define what you mean by "successful", in a professional environment "successful" doesn't mean "make loadsa money" !

Professional money managers have many traits that many retail traders lack, for example but not limited to:

- Attitude to risk. For example, you won't find any professional money managers doing CFD trades on 500:1 leverage ... and yet you'll find retail traders doing it two a penny.

- The operational structure and discipline. As a retail trader, if you want to buy/sell something, you can do so on a whim based on nothing more than gut instinct. As a professional money manger acting on a client account, the regulatory environment demands you take a disciplined approach, and your compliance department will normally mandate you to put a file-note on a customers records explaining your every single trade you do on a customer account. You also have to provide reports to clients and be expected to run portfolios in accordance with the customers wishes, desires and attitudes to risk. If you're fund manager running a retail fund, then you'll also be expected to produce reports.

- The ability and experience to see the 'big picture'. Too many newbies get caught in the short-term noise. Professionals have generally seen it all before and know the difference between 'noise' and 'this is different'.

- Professionals know to ignore internet nonsense. ;-)

oh yeah, professional traders know so much, bill ackman is a prime example

 

[ET180]

I agree with 1 but I don't agree with others. Especially with number 3. What kind of courses are you referring to?
All I feel is that you're trying to give beginners some false hope.

I also strongly disagree with 3. Why would courses be any more valuable than the thousands fo books already written on trading? Besides, there's lots of free resources on trading. I would say 3 should be lots of chart time.