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Which level of trader are YOU?
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Created: by bluemele Attachments:1

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Which level of trader are YOU?

  #51 (permalink)
Trading for Fun
Singapore, Jurong West
Futures Experience: Master
Platform: Metatrader
Broker/Data: OANDA
Favorite Futures: Currency
Nasdin94's Avatar
Posts: 128 since Oct 2011
Thanks: 11 given, 108 received

bluemele View Post
And? I am not saying I wrote it or I came up with it...

You didn't 'glean' anything from it?

Well, please don't misintepret me, my reply was a response to this phrase found in the pdf

I left of the name of the author of this piece by mistake. If anyone knows
the name of the true author, please let me know and I'll add it here. Thanks
and sorry for the confusion."

I'm not implying that you came up with it, wrote it or stole it, its just that I think I have a clue on where this is source from just in case there are some people trying to find the book so as to read it as well, it's really beneficial.

Yes, I did glean quite a lot from it, psychologically.

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  #52 (permalink)
Trading Apprentice
Futures Experience: Advanced
Platform: Metastock, Multichart
Favorite Futures: Futures
Futures Hunter's Avatar
Posts: 6 since Sep 2011
Thanks: 2 given, 9 received

  1. We accumulate information--buying books, going to seminars and researching.
  2. We begin to trade with our "new" knowledge.
  3. We consistently "donate" and then realize we may need more knowledge or information.
  4. We accumulate more information.
  5. We switch the commodities we are currently following.
  6. We go back into the market and trade with our "updated" knowledge.
  7. We get "beat up" again and begin to lose some of our confidence. Fear starts setting in.
  8. We start to listen to "outside news" & other traders.
  9. We go back into the market and continue to donate.
  10. We switch commodities again.
  11. We search for more information.
  12. We go back into the market and start to see a little progress.
  13. We get "overconfident" & market humbles us.
  14. We start to understand that trading successfully is going to take more time and more knowledge then we anticipated.

    Most People Will Give up at this Point as They Realize Work Is Involved.
  15. We get serious and start concentrating on learning a "real" methodology.
  16. We trade our methodology with some success, but realize that something is missing.
  17. We begin to understand the need for having rules to apply our methodology.
  18. We take a sabbatical from trading to develop and research our trading rules.
  19. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute.
  20. We add, subtract and modify rules as we see a need to be more proficient with our rules.
  21. We feel we are very close to crossing that threshold of successful trading.
  22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology.
  23. We continue to trade and become more proficient with our methodology and our rules.
  24. As we trade we still have a tendency to violate our rips and our results are still erratic.
  25. We know we are close.
  26. We go back and research our rules.
  27. We build the confidence in our rules and go back into the market and trade.
  28. Our trading results are getting better, but we are still hesitating in executing our rules.
  29. We now see the importance of following our rules as we see the results of our trades when we don't follow them.
  30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better.
  31. We continue to trade and the market teaches us more and more about ourselves.
  32. We master our methodology and trading rules.
  33. We begin to consistently make money.
  34. We get a little overconfident and the market humbles us.
  35. We continue to learn our lessons.
  36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size.
  37. We are making more money then we ever dreamed to be possible.
  38. We go on with our lives and accomplish many of the goals we had always dreamed of.

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  #53 (permalink)
Elite Member
Honolulu, Hawaii
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
bluemele's Avatar
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

Haha, great post.

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  #54 (permalink)
Trading Apprentice
chicago il USA
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: /ES
Posts: 19 since Apr 2012
Thanks: 9 given, 11 received

now i know where it came from awesome analogy.....

i didnt post it as my own....

a friend gave it to me so i posted it......


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