Scalp the easy way, Pt 1 - forex
Scalp the easy way , Pt 2 - forex
Sunday, 28 October 2012
Journey of a trader
level 1- You think you are special , unique, you can beat the market,
emotional, you tell/post how easily ypu win or how bad you lost, you ignore
about veteran trader stressing Money Management, you dont believe in it. Too bad...market beat you
in the end, and beat you badly. You having a nightmare.
level 2-You searching for holy grail, start buying a system/robot , you stress yourself and test all kinds of indicators in the world as you believe there must be few indicators to predict the market, you try to spot top and bottom
level 3 - You finally realise it is not the system problem , you start to believe MM, you start reading psychology of trading book and finally accept no one can predict accurately future price . You start to modify a system to suits your character of trading style, you r not emotional anymore
level 4- You trade only when your system gives you signal , you practise 2% only risk of yr account,you practise SL , you mastering your emotion ,you target consistent 40 pips daily, then increase to 60 pips consistent daily but still need to work hard
level 5- UTOPIA LEVEL-highest level of trader, 3% of trader reach this level , you master everything and can dance with the market . You finally realize that any technical indicators can earn money. You are a star in chatroom but your advice turn to deaf ear for those level 1 traders. You start isolating yourself from chatroom as there are a lot level 1 traders criticizing you. You feel let them learn their lesson the hardway is much better as you do not gain anything from them by giving them free advice but in return they bite you back.You no more worry about financial matter and reach true financial freedom,you can buy an island and stay there as long as have internet access and a laptop for you to trade, you earn like a superstar.
Which level are you in now? Wishing you all become 3% of the trader!!Utopia trader
level 2-You searching for holy grail, start buying a system/robot , you stress yourself and test all kinds of indicators in the world as you believe there must be few indicators to predict the market, you try to spot top and bottom
level 3 - You finally realise it is not the system problem , you start to believe MM, you start reading psychology of trading book and finally accept no one can predict accurately future price . You start to modify a system to suits your character of trading style, you r not emotional anymore
level 4- You trade only when your system gives you signal , you practise 2% only risk of yr account,you practise SL , you mastering your emotion ,you target consistent 40 pips daily, then increase to 60 pips consistent daily but still need to work hard
level 5- UTOPIA LEVEL-highest level of trader, 3% of trader reach this level , you master everything and can dance with the market . You finally realize that any technical indicators can earn money. You are a star in chatroom but your advice turn to deaf ear for those level 1 traders. You start isolating yourself from chatroom as there are a lot level 1 traders criticizing you. You feel let them learn their lesson the hardway is much better as you do not gain anything from them by giving them free advice but in return they bite you back.You no more worry about financial matter and reach true financial freedom,you can buy an island and stay there as long as have internet access and a laptop for you to trade, you earn like a superstar.
Which level are you in now? Wishing you all become 3% of the trader!!Utopia trader
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