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  1. #1
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    Learning curve

    Before starting making bunch of money trading Forex, it's very useful to honestly recognize your place on learning curve.

    Let me explain.

    It's very easy to think that "now you are ready to make it" after series of profits.

    But consistency is what makes professional trader (I mean, who made trading his occupation). How to recognize - are you ready or not?

    I would divide development of a trader on several phases (well, don't get offended if you recognized yourself :) )
    The more honest you are with yourself, the faster you can go through all that phases.


    1. Beginner.


    You have come to the market and try making your first trades. Something works, something doesn't, but you enjoy the process, and after getting good profit you blow up your account. You never suspect that risk you have taken was enormous. You think that your "method" what inperfect.

    This traumatic experience leads you to a level of "advanced beginner".


    2. Advanced beginner


    Now you understand that you don't have a method and start "learning".

    Well, many people are stuck in this level, because there are lots of books and websites out there, huh.

    You face tons of conflicting information, you try to structure it reading more. You begin absorbing information, the more you dive into that sea the more you lack understanding - how to trade to make money?

    Most novices search for a "solution" - they believe that solution exists "somewhere", that somebody has "foolproof trading method", this is really time of trial and error.

    When you finally understand that market itself has uncertainty and ambiguity in it's nature, you understand that analysis and trading theory is not as important as risk management and good trading habits.
    You recognize limitations of all theories.

    Once you've recognize it, you go to the next level - I call it "struggling trader"


    3. Struggling trader


    Struggling trader no longer searches for a holy grail, but he (she) drifts between one trading style to another.
    He doesn't know what to stop on, but he already keeps his losses short, he understands importance of capital management and no longer falls into deep drawdown.

    Lack of consistency leads to chaotic drift of equity - he earns money, than gives it back to the market, than again makes up his mind and finds good trades and earns money again.

    I would say, trader CAN already earn money in this phase, but he can't keep it. All that market understanding that he gained through the years, pushes him to overtrade.

    Struggling trader recognises that he lacks discipline.



    4. Average good trader.


    What average good trader really does - he knows how to learn trading and that makes him who he is.

    He accepted 100% responsibility for his trading and there is fundamental difference between struggling trader and average good trader. While struggling trader relies on the market, he follows the market, but he rarely thinks of his actions, attention of average good trader focuses more on his actions.

    He already knows limitation of all theories, he knows importance on money management, he recongnizes importance of consistency.

    He keeps a journal, re-evaluates - what he does well, what not, what to work on, what to keep as it is, real work starts in this point.

    Also, average good trader works on his psychology and self awareness that makes him more disciplined.
    He studies the market, collaborate with traders but already knows that his action and opinion is what matters.

    Right focus of this phase eliminates a lot of mistakes, bad trades and finally allows trader to earn and keep money.

    I would say, this is a transformational phase. A lot of work to do, but it's like planting a tree - in needs time to grow.
    This is sort of personal growth. When we choose our reaction, when we refocus our attention and take responsibility for our actions, we grow personally and professionally, especially in trading.


    5. Master trader


    I would say, there are not so many traders that reach this point.

    At this point, trader knows himself and the market. He executes trades intuitively and as he knows his strengths and weaknesses, he can be more aggressive with what he does well, and defensive in other situations. Of course, it ends up with increased profitabilty and equity curve of a master trader can contain many winning streaks.

    Master trader focuses his attention right, thanks to the work done on the previous phase.

    I would say, "the tree had grown".



    Bottom line:


    It's important to recognize your place on the learning curve. Some people can't take responsibilty for their actions and accept that trading is a hard work, that's why they never come to the "average good trader" point.

    So, decide for yourself - where are you on this curve?

    The more honest you are, the closer you get to the destination. Yes, it takes time to develop and can't be done overnight. Do that work or quit!

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    Last edited by Value trader; 08-08-2013 at 08:03 PM.

  2. #2521
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    as it shown clearly from the market and how they can be very different in the way in which we can analyse . also i think that the best types of the trading which depends on the learning course we have and what we learn . also the fact of applying and self learning also is exists and help many traders to find this . to feel of good manners for the trading all the time

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  3. #2522
    Registered user ola4real's Avatar
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    Forex traders should get ready to be learning, they have to create time for this learning and do not have to be in an hurry when they are learning. It takes more of the experience of traders to be successful, without the use of the learning, forex traders can not be experienced in such a way that will bring about their income making in forex field. The more we learn, we will get evaluation and more advanced method to trade the forex field too.

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  4. #2523
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    A trader always have need to focus on his learnings because it is the most powerful element which helps to gain knowledge and do trade like a professional trader.
    We are doing practice on demo then we always learn new things about this market on daily basis.

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  5. #2524
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    Quote Originally Posted by letsdo View Post
    A trader always have need to focus on his learnings because it is the most powerful element which helps to gain knowledge and do trade like a professional trader.
    We are doing practice on demo then we always learn new things about this market on daily basis.
    yes its important no doubt if we are doing good learning we can earn well but if we do not have learning we can not earn, so do trade properly and do on base of experience, here for trading properly we should use demo as real, actually we use demo without any big tension and earn but in other side we people uses real with tensions so relax mind is important here, in trading we should use demo with planning if we do not have planning we can not survive

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  6. #2525
    Registered user Rylai's Avatar
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    Quote Originally Posted by naeem555 View Post
    yes its important no doubt if we are doing good learning we can earn well but if we do not have learning we can not earn, so do trade properly and do on base of experience, here for trading properly we should use demo as real, actually we use demo without any big tension and earn but in other side we people uses real with tensions so relax mind is important here, in trading we should use demo with planning if we do not have planning we can not survive
    Each one of us started this business from beginners. we learned everything from the basic theories into core strategy by taking steps, slowly. some of us might did it wrong and made mistakes earlier but that didn't stop them from learning. what makes us a good trader now is thanks to our own hard work to learn seriously and patiently with strong faith without giving up.

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  7. #2526
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    gradually the trader can learn step by step how top be professional in the trading and i think that this will be very good to help in making the good experience rally in hiw own life by getting the perfect ways for the trading and why they can be very sure of their own strategy . beginners can ;learn from others mistakes which led them to losses and try not to repeat them any more .

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  8. #2527
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    Quote Originally Posted by Rylai View Post
    Each one of us started this business from beginners. we learned everything from the basic theories into core strategy by taking steps, slowly. some of us might did it wrong and made mistakes earlier but that didn't stop them from learning. what makes us a good trader now is thanks to our own hard work to learn seriously and patiently with strong faith without giving up.
    Everyone is not so serious about learning and many are just coming to Forex in hopes of earning a lot within a short time. Many retail traders dont have discipline and that is the reason they face severre drawdowns and margin calls which make them repulsive. Further everyone have to invest time and efforts in learning to become successful in Forex.

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  9. #2528
    Registered user layigold's Avatar
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    Being an average good trader is not a feat that can be reached overnight in fact , it is a process that requires practice , learning and patience . In life generally , the way up is down and the process of growth calls for moving from one developmental stage to another and this is not different in forex trading . You hardly van get any forex trader who just found himself at his best without crushing some hurdles and trading challenges . How far you reach the top echelon of trading is how much committed you are to learning and avoiding the repeat of past mistakes .

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  10. #2529
    Registered user Azis Muslim's Avatar
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    Passing one stage of learning and move to another higher level must be done patiently and seriously. During years of trading, we got to remember some things that we have done in recent times so we can add them up to our memory and help us to understand more patterns or movements in market. As I advanced my understanding to another level, I always write them down in my notepad how market moves and how my strategy reacts to it to help me remember everything easily.

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  11. #2530
    Registered user Toyen's Avatar
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    Quote Originally Posted by Rylai View Post
    Each one of us started this business from beginners. we learned everything from the basic theories into core strategy by taking steps, slowly. some of us might did it wrong and made mistakes earlier but that didn't stop them from learning. what makes us a good trader now is thanks to our own hard work to learn seriously and patiently with strong faith without giving up.
    It is true, we have started this business as a beginners, there is no traders that will start from the expert level. I know that when we are learning and are not lazy about the way we are using what we have learned, there is no way we will not get to be trading the market politely. The learning is powerful to make sure that traders are doing what is right at all time, that is likewise what will make sure traders possesses the right experience.

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