Stage 1: Unconsciously poor stage

You may have heard about forex trading and thought, “It's like trading stocks. And probably not hard to make money, right? "

So you open an account and bet 10% on your first EUR / USD trade. You earn $$$ and you do it again, this time AUD / USD. Strangely, however, you lose everything you have earned with EUR / USD and more!

This goes on for a while until you realize that your victory is more due to luck than skill. And at this stage, you cannot even call your losses "tuition fees" because you have not learned anything under this circumstance.

Stage 2: Poor but conscious stage

This is when you realize that "it's not easy", but more realistic than "hard!".

You don't fully understand it yet, but at least you know it for now and are working to improve your end result.

You try to learn about fundamental and technical analysis and general market conditions. You try different indicators and timeframes and use the trading log to record their success rates.

You record individual currencies and how they react to economic news. Last but not least, you trade with strategies until you find a system that suits your personality and risk appetite.

You will fail a lot (even fire accounts?) During this stage, but you will also learn great lessons, which is "tuition"!

Stage 3: Stage of capacity and consciousness

At this point, you have an idea of what is right for you and what is not. And you've found the systems that make a profit, but you still need to work to achieve consistent results.

During this stage, you have developed strict risk management rules and are also trying to follow them when you are still being restrained by fear and greed from time to time.

Stage 4: The stage of unconsciously gaining capacity

This does not mean that you can no longer feel anything, but at this stage, you will execute all of your tradings automatically:
  • You have the ability to detect hundreds of patterns as well as identify market conditions and come up with the right strategy in just ten minutes.
  • You have your risk management plan in place and it is easy to determine order sizes and stop-loss points.
  • You know your system very well and know in what environment it should be implemented, and not in what environment. At the same time, you get the adjustments accordingly.
  • In this final stage, everything becomes routine and your trading is guided by "feel" rather than conscious effort. Consistent profit generation becomes your essence.
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