5 Steps to Professional Trader(전문 트레이더를 위한 5단계)

5 Steps to Professional Trader(전문 트레이더를 위한 5단계)

 

I searched to find the original source of this article but have not been able to locate it. This is from an anonymous source and has been shared on many websites online over and over. (반복해서)If anyone knows who wrote it I will be happy to link this to the original author. I do think this is an important share to aspiring traders:

이 글의 원래의 자료를  찾기 위해 검색을 해보았지만 그것의 위치를 찾을 수 없었다. 이것은 익명의 출처에서 온 것이며 온라인상의 많은 웹사이트에서 계속해서 공유되었습니다. 누가 그것을 썼는지 아는 사람이 있다면 나는 이것을 원저자와 연결하게 되어 기쁩니다. 나는 이것이 야심 찬 거래자에게 중요한 몫이라고 생각합니다.

“This was circulating on the internet for a while, I made a copy of it back in 07 when i started trading, since then it has been republished by Charles Kirk. Trading has been a heck of (엄청난)a journey for me. I came in for the money at first and now after all these years I’m still in but my motives have changed, I’m in for the game. Trading has been a long journey of self discovery for me, something I never even thought I would have to go through.“ – Yvan Byeajee

“이것은 인터넷에서 한동안 돌고 있었는데 07년에 거래를 시작할 때 사본을 만들었고 그 이후로 Charles Kirk에 의해 다시 출판되었습니다. 트레이딩은 저에게 엄청난 여정이었습니다. 처음에는 돈을 벌기 위해 들어왔고 몇 년이 지난 지금은 여전히 하고 있지만 동기가 바뀌었고 게임을 하고 있습니다. 트레이딩은 나에게 있어 자기 발견의 긴 여정이었고, 어떤 것은 내가 겪어야 할 것이라고는 생각조차 하지 못했던 것입니다." - Yvan Byeajee

 

5 steps to becoming a professional trader

전문 트레이더가 되기 위한 5단계

 

Step One: Unconscious Incompetence

1단계: 무의식적 무능력

 

This is the first step you take when starting to look into trading. You know that it is a good way of making money because you’ve heard so many things about it and heard of so many millionaires. Unfortunately, just like when you first desire to drive a car you think it will be easy – after all, how hard can it be? Price either moves up or down – what’s the big secret to that then – let’s get cracking!(시작합시다 )

 

Unfortunately, just as when you first take your place in front of a steering wheel you find very quickly that you haven’t got the first damn(밉쌀스런) clue about what you’re trying to do. You take lots of trades and lots of risks. When you enter a trade, it turns against you, so you reverse and it turns again, and again, and again. You may have initial success and that’s even worse because it tells your brain that this really is simple and you start to risk more money. You try to turn around (방향을 바꾸다)your losses by doubling up every time you trade. Sometimes you’ll get away with it but more often than not (종종)you will come away (떨어져 나가다)scathed and bruised. You are totally oblivious (잘 잊어버리는)to your incompetence at trading.

이것은 거래를 조사하기 시작할 때 취하는 첫 번째 단계입니다. 당신은 그것에 대해 너무 많이 듣고 많은 백만장자에 대해 들었기 때문에 그것이 돈을 버는 좋은 방법이라는 것을 알고 있습니다. 불행히도 처음 차를 운전하고 싶을 때와 마찬가지로 그것이 쉬울 것이라고 생각하는 것처럼, 결국 얼마나 어려울 수 있습니까? 가격은 위 또는 아래로 움직입니다. 그렇다면 가장 큰 비결은 무엇입니까? 시작합시다!

불행히도, 처음 운전대 앞에 섰을 때 하려는 일에 대한 첫 번째 단서가 없다는 것을 매우 빨리 발견하는 것처럼. 당신은 많은 거래와 많은 위험을 감수합니다. 당신이 거래에 들어갈 때, 그것은 당신에게 불리하게 바뀌기 때문에 당신은 역으로 돌아서고, 또 다시, 또 다시 돌아갑니다. 당신은 초기 성공을 거둘 수 있으며 이것은 당신의 두뇌에 이것이 정말로 간단하고 더 많은 돈을 위험에 빠뜨리기 시작한다는 것을 알려주기 때문에 더 나쁩니다. 거래할 때마다 두 배로 증가하여 손실을 되돌리려고 합니다. 때때로 당신은 그것으로 벗어날 수 있지만 더 자주 당신은 상처를 입고 멍이 들 것입니다. 당신은 거래에서 당신의 무능함을 완전히 잊었습니다.

 

Step Two – Conscious Incompetence

2단계 – 의식적인 무능력

 

Step two is where you realize that there is more work involved in trading and that you might actually have to work a few things out.(일을 해 내다) You consciously realize that you are an incompetent trader – you don’t have the skills or the insight to turn a regular profit.

2단계에서는 거래와 관련된 더 많은 작업이 있고 실제로 몇 가지를 해결해야 할 수도 있음을 깨닫습니다. 당신은 무능한 거래자임을 의식적으로 깨닫습니다. 당신은 정기적으로 수익을 낼 수 있는 기술이나 통찰력이 없습니다.

You now set about buying trading systems and e-books galore(엄청나게), read websites based everywhere from USA to the Ukraine and begin your search for the holy grail. During this time you will be a system nomad(유목민) – you will flick from method to method day by day and week by week never sticking(집착하다) with one long enough to actually see if it does work. Every time you come upon (마주치다)a new indicator you’ll be ecstatic that this is the one that will make all the difference.

이제 거래 시스템과 전자책을 구매하기 시작했고, 미국에서 우크라이나에 이르기까지 모든 곳에 기반을 둔 웹사이트를 읽고 성배를 찾기 시작했습니다. 이 시간 동안 당신은 시스템 유목민이 될 것입니다. 당신은 실제로 작동하는지 확인하기에 충분히 긴 방법을 고수하지 않고 날마다 그리고 매주 방법에서 방법을 휙휙 넘겨볼 것입니다. 새로운 지표를 발견할 때마다 이것이 모든 차이를 만들어낼 지표라는 사실에 황홀할 것입니다.

You will test out automated systems, you’ll play with (사용하다)moving averages, Fibonacci lines, support & resistance, pivots, fractals, divergences, DMI, ADX, and a hundred other things all in the vein hope (희망에 차서)that your ‘magic system’ starts today. You will also become a top and bottom picker, trying to find the exact point of reversal with your indicators and you’ll find yourself chasing losing trades and even adding to them because you are so sure you are right.

자동화된 시스템을 테스트하고 이동 평균, 피보나치 선, 지지 및 저항, 피벗, 프랙탈, 발산, DMI, ADX 및 기타 백 가지를 모두 사용하여 '마법 시스템'이 오늘 시작되기를 바랍니다. . 당신은 또한 당신의 지표로 정확한 반전 지점을 찾으려고 노력하는 상단 및 하단 선택자가 될 것이며, 자신이 옳다고 확신하기 때문에 손실 거래를 쫓고 심지어 추가하는 자신을 발견하게 될 것입니다.

You’ll go into the live chat room and see other traders making profits and you want to know why it’s not you – you’ll ask a million questions, some of which are so dumb that looking back you feel a bit silly. You’ll then reach the point where you think all the ones who say they are making profits are all liars – they can’t be making that amount because you’ve studied and you don’t make that, you know as much as they do and they must be lying. But they’re in there day after day and their account just grows whilst yours falls.

 

You will be like a teenager – the traders that make money will freely give you advice but, you’re stubborn and think that you know best – you take no notice and over trade your account even though everyone says you are mad to but you know better. You’ll consider following the calls that others make but even then it won’t work so you try paying for signals from someone else – they don’t work for you either.

 

You might even approach a guru or someone on a chat board who promises to make you into a trader (usually for a fee of course). Whether the guru is good or not you won’t win because there is no replacement for screen time and you still think you know best.

 

This step can last ages and ages – in fact in reality talking with other traders as well as personal experience confirms that it can easily last well over a year and more nearer to three years.

 

This is also the step when you are most likely to give up through sheer frustration. Around 60% of new traders quit in the first 3 months – they give up and this is good – think about it – if trading was easy we would all be millionaires. Another 20% keep going for a year and then in desperation take risks guaranteed to blow their account which of course it does.

 

What may surprise you is that of the remaining 20% all of them will last around 3 years and they will think they are safe in the water but even at 3 years only a further 5-10% will continue and go on to actually make money consistently.

 

By the way – these are real figures, not just some I’ve picked out of my head – so when you get to 3 years in the game don’t think it is plain sailing from there!

 

I’ve had many people argue with me about these timescales – funny enough none of them have been trading for more than 3 years – if you think you know better – then ask on a board for someone who’s been trading 5 years and ask them how long it takes to become fully 100% proficient. Sure I guess there will be exceptions to the rule – but I haven’t met any yet.

 

Eventually you do begin to come out of this phase. You’ve probably committed more time and money than you ever thought you would, lost 2 or 3 loaded accounts and all but given up maybe 3 or 4 times but now it is in your blood. One day – in a split second moment you will enter stage 3.

 

Step 3 – The Eureka Moment

 

Towards the end of stage two you begin to realize that it’s not the system that is making the difference. You realize that it is actually possible to make money with a simple moving average and nothing else IF you can get your head and money management right. You start to read books on the psychology of trading and identify with the characters portrayed in those books and finally comes the eureka moment.

 

This eureka moment causes a new connection to be made in your brain. You suddenly realize that neither you, nor anyone else can accurately predict what the market will do in the next ten seconds, never mind the next 20 minutes. Because of this revelation you stop taking any notice of what anyone thinks – what this news item will do, and what that event will do to the markets. You become an individual with your own method of trading. You start to work just one system that you mold to your own way of trading, you’re starting to get happy and you define your risk threshold.

 

You start to take every trade that your ‘edge’ shows has a good probability of winning with. When the trade turns bad you don’t get angry or even because you know in your head that as you couldn’t possibly predict it it isn’t your fault – as soon as you realize that the trade is bad you close it. The next trade or the one after it or the one after that will have higher odds of success because you know your system works. You stop looking at trading results from a trade-to-trade perspective and start to look at weekly figures knowing that one bad trade does not a poor system make.

 

You have realized in an instant that the trading game is about one thing – consistency of your ‘edge’ and your discipline to take all the trades no matter what as you know the probabilities stack in your favor.

 

You learn about proper money management and leverage – risk of account etc. – and this time it actually soaks in and you think back to those who advised the same thing a year ago with a smile. You weren’t ready then but you are now. The eureka moment came the moment that you truly accepted that you cannot predict the market.

 

Step 4 – Conscious Competence

 

You are making trades whenever your system tells you to. You take losses just as easily as you take wins. You now let your winners run to their conclusion fully accepting the risk and knowing that your system makes more money than it loses and when you’re on a loser you close it swiftly with little pain to your account.

 

You are now at a point where at a minimum you break even – day in day out. You will have weeks where you make big money and other weeks where you lose big money – but overall you are breaking even and not losing money anymore. You are now conscious of the fact that you are making calls that are generally good and you are getting respect from other traders as you chat the day away. You still have to work at it and think about your trades but as this continues you begin to make more money than you lose consistently.

 

You’ll start the day on a big win, take a big loss and have no feelings that you’ve given those profits back because you know that it will come back again. You will slowly begin to make consistent profits week in and week out.

 

Step Five – Unconscious Competence

 

Now we’re cooking – just like driving a car, every day you get in your seat and trade. You do everything now on an unconscious level. You are running on autopilot. You start to pick the really big trades and getting big profits in a day doesn’t make you any more excited that getting none. You see the newbies in the forum shouting ‘go market go’ as if they are urging on a horse to win in the grand national and you see yourself – but many years ago now. This is trading utopia – you have mastered your emotions and you are now a trader with a rapidly growing account.

 

You’re a star in the trading chat room and people listen to what you say. You recognize yourself in their questions from about two years ago. You pass on your advice but you know most of it is futile because they’re teenagers – some of them will get to where you are – some will do it fast and others will be slower – literally dozens and dozens will never get past stage two, but a few will.

 

Trading is no longer exciting – in fact it’s probably boring you to pieces – like everything in life when you get good at it or do it for your job – it gets boring – you’re doing your job and that’s that.

 

Finally you grow out of the chat rooms and find a few choice people who you converse with about the markets without being

 

influenced at all. All the time you are honing your methods to extract the maximum profit from the market without increasing risk. Your method of trading doesn’t change – it just gets better – you now have what women call ‘intuition.’ You can now say with your head held high “I’m a trader” but to be honest you don’t even bother telling anyone – it’s a job like any other.

 

I hope you’ve enjoyed reading this journey into a traders mind and that hopefully you’ve identified with some points in here.

 

Remember that only 5% will actually make it – but the reason for that isn’t ability, its staying power and the ability to change your perceptions and paradigms as new information comes available. The losers are those who wanted to ‘get rich quick’ but approached the market and within 6 months put on a pair of blinkers so they couldn’t see the obvious – a kind of “this is the way I see it and that’s that” scenario – refusing to assimilate new information that changes that perception.

 

I’m happy to tell you that the reason I started trading was because of the ‘get rich quick’ mindset. Just that now I see it as ‘get rich slow.’ If you’re thinking about giving up I have one piece of advice for you ….

 

Ask yourself the question “How many years would you go to college if you knew for a fact that there was a million dollars a year job at the end of it?”

 

Take care and good trading to you all. – Anonymous