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<\/a><\/span><\/div>\nTypical Stages of Trader Development – For some time now I have been acutely aware of the unrealistic expectations of people who come into trading, thinking that they are going to be able to pick it up quickly and make a rapid fortune! \u00a0The reality is vastly different. \u00a0Here are my thoughts on what that reality is. \u00a0<\/p>\n<\/div>\n
The typical starting points are:<\/p>\n<\/div>\n
More…<\/span><\/p>\n They seek Training & Education such as:<\/p>\n Free Courses & Workshops\/Seminars\/Trader Shows\/Youtube\/Social Media<\/p>\n<\/li>\n Paid for Online Courses & Weekend Workshops\/Seminars<\/p>\n<\/li>\n Paid for Live Rooms & Trade Copying Services<\/p>\n<\/li>\n Paid for Online Group or 1 to 1 or even Physical Coaching & Mentoring<\/p>\n<\/li>\n<\/ul>\n<\/div>\n Typical Trader Development, which may take years, probably follows this path::<\/p>\n Complete Newbie and doesn\u2019t know what they don\u2019t know, who signs up to and attends various free events\/webinars\/trader shows etc.<\/p>\n<\/li>\n Spends a lot of time watching Trading Youtube Channels.<\/p>\n<\/li>\n They are constantly seeking and yearning for that one Strategy above all others or even just a strategy that works.<\/p>\n<\/li>\n Gets sucked into all the Hype and probably gets scammed and then becomes a little more questioning and discerning and does a bit more homework.<\/p>\n<\/li>\n Selects and signs up to an \u2018affordable\u2019\u2019 online trading education course.<\/p>\n<\/li>\n Tries to trade Live too quickly and then consistently loses money or blows their whole account up once or several times.<\/p>\n<\/li>\n Spends all day staring at their screen hoping, willing, shouting even screaming at \u2018the market\u2019 to go in their chosen direction!<\/p>\n<\/li>\n They burn out trying Intra-Day Trading over a period of months<\/p>\n<\/li>\n They neglect their family, friends, fitness and general well-being.<\/p>\n<\/li>\n Signs up to a Trade Copy Service and loses money<\/p>\n<\/li>\n Thinks about giving up and then realises that they have to get serious about this trading endeavour<\/p>\n<\/li>\n Searches online for a Trading Coach and \/ or Mentor.<\/p>\n<\/li>\n Or because they have signed up to so many trading \u2018Freebies\u2019, they open an email from a Trading Educator who seems genuine and seems to know what they are talking about.\u00a0 What they say makes sense and starts to ring an inner bell, they talk straight and don\u2019t promise immense riches and fast cars etc.\u00a0 They talk about Risk & Money Management, following and improving the Process of Trading, working on your Headspace and so much more.<\/p>\n<\/li>\n They start to follow this Trading Educator and after they have built their trust in this person, they sign up for their Trading Education Course, Coaching & possibly Personal Mentoring but maybe sequentially as they develop.<\/p>\n<\/li>\n They then learn about:<\/p>\n<\/li>\n How the Markets really work<\/p>\n<\/li>\n Difference between CFDs, Spread Betting, Futures & Options<\/p>\n<\/li>\n Price Action (Candlesticks\/Fractals, Pinbars, Candlestick Patterns, Impulsive and Corrective Waves etc)<\/p>\n<\/li>\n Risk & Money Management, Margin & Leverage<\/p>\n<\/li>\n Some key Moving Averages<\/p>\n<\/li>\n Supply & Demand\/Support & Resistance<\/p>\n<\/li>\n Trend and Counter-Trend Lines<\/p>\n<\/li>\n Fibonacci Sequence, Ratios and associated Trading Tools<\/p>\n<\/li>\n One or 2 Lagging Indicators<\/p>\n<\/li>\n Multi-Time Frame Analysis & Strategic Context<\/p>\n<\/li>\n Confluences<\/p>\n<\/li>\n Correlations<\/p>\n<\/li>\n A decent strategy or 2<\/p>\n<\/li>\n They learn about Probabilities<\/p>\n<\/li>\n A Trade Plan and a Personal Trading Plan<\/p>\n<\/li>\n The importance of keeping a Trading Journal<\/p>\n<\/li>\n Trader Development Phases: Mechanical – Subjective – Intuitive<\/p>\n<\/li>\n The Various Trading Sessions and The Best Times to Trade and When Not to Trade<\/p>\n<\/li>\n Fundamentals & Technicals & the Economic Calendar + Geo-Politics<\/p>\n<\/li>\n Key Economic events (NFP\/FOMC\/CPI\/GDP\/Central Bank Rates etc)<\/p>\n<\/li>\n They will be encouraged to Network with like minded aspiring traders because no-one understands your Learn to Trade journey better than other traders!<\/p>\n<\/li>\n<\/ul>\n<\/ul>\n<\/ul>\n<\/div>\n So then the question has to be asked:<\/p>\n \u2018How many people will actually invest in themselves in terms of money but more importantly in their time and effort, to actually achieve the above?\u2019<\/p>\n Is it any wonder then that so many people fail when attempting to trade the Live Financial Markets or when attempting to pass a Prop Firms Trading Evaluation.<\/p>\n The answer is probably that they weren\u2019t actually ready.\u00a0<\/p>\n If you have mastered most of the above then you should be ready to trade with a Prop Firm and gain access to a Funded Account with the benefits that brings.\u00a0 More importantly, you will deserve that because of all the effort and hard work you have put into your Trading ambitions.\u00a0 Additionally, you may also now realise that the money invested in the above was well spent and most likely significantly less than blowing a live trading account up!<\/p>\n<\/div>\n If you feel that you are ready<\/strong>, then we recommend two Prop Firms:<\/p>\n Prop Firm A<\/strong><\/a><\/p>\n Prop Firm B<\/strong><\/a><\/p>\n We\u2019ll let you decide but make sure you fully understand the Evaluation Process Rules!<\/p>\n If you feel you that you are NOT<\/strong> yet ready then maybe we can help you to achieve your trading ambitions. \u00a0Just click on the link below for more information:<\/p>\n Coaching & Mentorship<\/strong><\/a><\/p>\n<\/div>\n<\/div>\n\n
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