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I find the following steps are true.

38 Steps To Become A Successful Trader

Credits: This article was originally posted by SK in HILT.

We accumulate trading information - buying books, going to seminars and researching.
We begin to trade with our ‘new’ knowledge.
We consistently ‘donate’ and then realize we may need more knowledge or information.
We accumulate more information.
We switch the commodities we are currently following.
We go back into the market and trade with our ‘updated’ knowledge.
We get ‘beat up’ again and begin to lose some of our confidence. Fear starts setting in.
We start to listen to ‘outside news’ & other traders.
We go back into the market and continue to donate.
We switch commodities again.
We search for more trading information.
We go back into the market and continue to donate.
We get ‘overconfident’ & market humbles us.
We start to understand that trading successfully is going to take more time and more knowledge then we anticipated. Note: Many Traders Will Give up at this Point as they Realize Work is Involved.
We get serious and start concentrating on learning a ‘real’ methodology.
We trade our methodology with some success, but realize that something is missing.
We begin to understand the need for having rules to apply our methodology.
We take a sabbatical from trading to develop and research our trading rules.
We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute.
We add, subtract and modify rules as we see a need to be more proficient with our rules.
We go back into the market and continue to donate.
We start to take responsibility for our trading results as we understand that our success is in us, not the trade methodology.
We continue to trade and become more proficient with our methodology and our rules.
As we trade we still have a tendency to violate our rules and our results are erratic.We know we are close.
We go back and research our rules.
We build the confidence in our rules and go back into the market and trade.
Our trading results are getting better, but we are still hesitating in executing our rules.
We now see the importance of following our rules as we see the results of our trades when we don’t follow them.
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.
We continue to trade and the market teaches us more and more about ourselves.
We master our methodology and trading rules.
We begin to consistently make money.
We begin to consistently make money.
We get a little overconfident and the market humbles us.
We continue to learn our lessons.
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.
We are making more money then we ever dreamed to be possible.
We go on with our lives and accomplish many of the goals we have always dreamed of.

Brother, this is a good one. Guess everyone is going thru the same phase as mentioned above. Diifference is only, the extent of injury and rapidity of recovery and lesson learnt.

A must read if one is to be a trader....!

Yeah, that was a good one. But I wonder how many percent of traders in this world survive until they can make money... consistently.

Most will... Provided and only if... they have the learning attitude... if not, most if not all will not make it.....

Regards & happy learning...

NOW HOW MANY PEOPLE WILL CLAIM THEY WALK THRO' A DIFFERENT PATH??? I WALK THRO' THAT PATH LONG AGO. TO BE EXACT I COMPLETED THAT JOURNEY in 1996.

NOW IS THE BORING PREDICTABLE THING THAT I AM FACING. WELL.... WHO IS TO COMPLAIN WHEN ONE IS MAKING MONEY. FREE TIME??? JUST PROVIDE MY CONSULTING SERVICES AND MAKE EXTRA $$$.

LEFT POCKET FULL, RIGHT POCKET ALSO FULL. NOW I CAN SPEND MORE TIME WITH MY FAMILY WHEN I AM BORED.

THERE IS NO SHORT CUT...TRIALS ERRORS...TRY AGAIN...TILL YOU GET IT RIGHT. NEED NOT BE PERFECT.

Very inspiring!

hi there and good morning to all,

The 38 steps of a traders life to success, very inspiring and will try to lay those rules along my path as I am on the very 1st step to become a trader.
There is no short cut to become a good profitable trader. No Pain No Gain.
I was very sinical when any topic on the stock market became topic of conversation. I used to give the stoke market a very cold shoulder till recently. My Inspiration is TEECS.
He encouraged me and to join you guys here and to learn the tricks here and there.
Yet, 1 thing for sure and will always remenber a good say from a good friend - THE STOCK MARKET IS LIKE A WHORE, IT IS exciting and adventures when you 1st indulge. It will be your best friend till your wallet is open and flowing. Once dry, it will change partners. It is never yours for the keeping.
With that hope to pick up good advice and hav fun with the Stock Market.
Selamat Hari Raya to the Muslim friends.

Chiao....

MCA.

Its how you look at it actually, but your comments are amusing nonetheless :)

The stock market can be a goldmine to some; the world's biggest casino to others or a rich man's race course.
The beauty of the stock market is that you can invest, trade, speculate or punt.
Investing is positive, trade or speculation is fifty-fifty. Punting is negative. And if you want to "play" the market, most probably you have to pay as well unless you are real smart.
The market is not a whore. However, it has a way of fattening you for the slaughter house.
So do be careful.
Cheers!

Thank you Ben for the inspiration. Well will try to look at the stock market in a more broader manner. Anyway, would like to applaud on your wide knowledge of the stock market. Been reading your articles....

mca