Market has opened. Price is moving. You are watching the market. The question is, “do you live in present, understand the market or living in the present or future?” Everybody enters in to trading, thinking that it is easy to make money in share market. They never think to make easy money, one has to be a consistent trader and it takes time. The phases of a trader are Newbie – no knowledge, lot of expectations Senior newbie – Gain knowledge, less expectations. Intermediate – Unable to manage emotions during trading, good knowledge about trading. Expert – Good emotional & trade management skills. In these 4 stages, most people get stuck in intermediate phase. Why they get stuck there? How to cross that phase? This intermediate phase is important as it decides whether a person will become a consistent trader or not. The longer a person stays in this phase, the chances of him becoming a profitable trader reduces. Why ? Because the person will be repeating the same mistakes again & again creating it as a habit strengthening the neural pathways in brain and make it as a habit. People who do revenge trading, impulsive trading, over trading for many years enter in to this category. Can you avoid it? No. Every trader undergoes this phase. And in this phase only he learns the way to become a consistent trader. Do you have self destructive bad trading habits? What factors decide the duration of the intermediate phase? Exercise : Note down your self destructing trading habits. Review your trades to know it. (To be continued next week...)
Very Accurately! Paper trading, observing charts, back testing your strategies help.
vikasghute
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Very helpful, thank you so much! Will work on this.
Naveengfx
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Very well said mam... Thanku so much for this.
manii0741
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Looks like stuck at Senior Newbie and during live market behave like newbie. Your post always inspire to improve. Thank you for sharing your knowledge.
I am between senior newbie and intermediate. Sometimes I get emotional, but I have learned to write down every mistake during a trade and learn from it.6 months ago I was very emotional and reactive. Now I can feel the improvement but I also know I have to improve in order to be good trader. Your advice and ideas are wonderful. Thank you
vanathi
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@Study103, Welcome :) Happy to know your progress.
feminarias
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Very well said... Good insight.
Thanku so much for the write up.