A New Traders Journey to Success

Discussion in 'Psychology' started by jtrader03, Sep 7, 2006.

  1. hcour

    hcour Guest

    I prefer the original from which the author has borrowed liberally. This has been floating around for a while, I first read it in a Larry Connors book about 6 yrs ago:

    The Four Stages of Learning

    First is "Unconscious Incompetence" - A child feels he can drive a car because he has no idea what it actually entails. 2nd stage is "Conscious Incompetence", when you acknowledge you are inept - The first time a teenager actually tries to drive. The third stage is "Conscious Competence", when you are skilled enough to do the job but have to give it 100% of your concentration - The first few months after first learning to drive. (I remember as a teenager, when I smoked, I couldn't drive on the interstate and smoke a cigarette until several weeks after I got my license.) And the final stage is "Unconscious Competence", when you can do the task w/o thinking - After driving all my adult life I now drive to the store and later may not even remember I made the trip.

    H
     
    #11     Oct 1, 2006
  2. Hmmm.

    Looks like I'm stage 3, maybe about 1/3 of the way on my journey to stage 4.


    Trading seemed so much easier when I was in stage 1 !!!
     
    #12     Oct 1, 2006
  3. DaBrain

    DaBrain

    Good stuff here!
     
    #13     Oct 2, 2006
  4. What's the stage when trite snipits no longer act as epiphanies?
     
    #14     Oct 2, 2006
  5. I was referred by a forum member to this thread. It was indeed a good read.

    I am new in trading, but I guess I am kind of mix of step 1 to 4. Does every successful trader follow the same route? I'd like to challenge it. Maybe market will bite me really hard (it bite me really hard once, and I lost 50K), now I am starting over. If I got bite again, then I will call quit:)

    freewilly
     
    #15     Oct 3, 2006
  6. plungerx

    plungerx

    Im pretty sure ever trader has their own stages but the article brushes through some good points. Im curious to know the average time it takes for a trader to reach peak level?
     
    #16     Oct 25, 2006
  7. Kap

    Kap

    I would say 3 years if your full time, and expect to blow up once or twice at least, as this afterall is your tuition fee.

    I'm sitting on stage 5 ... looking over the hill to stage 6.

    One thinkg I can say is good trading is boring, and I have to look elsewhere for kicks nowadays.
     
    #17     Oct 25, 2006
  8. me1969

    me1969

    Absolutely right! That is what I tell people who want to know how it is to trade. You must love it otherwise it is really mind-numbing, waiting, waiting and then catch fast, again waiting, waiting...
     
    #18     Oct 25, 2006