Development Stages of a Trader ? #mustread

The holy grail of trading doesn't exist,  it's a different story for every trader. 

There is no set grail to describe a traders journey, from an amateur to GODFATHER of trading. But the development of a trader can be generalized into different stages. I would like to take help from a beautiful article I read recently on thriveglobal.com by Shahram Shiva in describing it. Using the methodology, I describe a traders realization of the three fuels of trading MONEY, METHOD and MIND. These 3 M's are the keys to successful trading and one master these with time. 

The MIND is the hardest to achieve, Money and Method are the easy part. The trick here is that will they have the money required to stay in the market till they achieve the method and mind. Few take trading as a game and lose all their capital while leaning the method which is not even 20% of the trading success. 

You cant win if you dont bet, but you cant bet if you loose it all 

So it's very important to understand the development stages of a trader and as per the IQ taking the required time to learn that stage and move on. SELF REALIZATION, as described by Shahram Shiva is very important. If they are not honest about their IQ, the learning style and speed, they will lose all the bets and will not go to the next stage. 

Its all about how you declutter your mind and achieve that simple thinking where every chart  drawing of yours looks just out of a text book.

Stages of Developement : 

• Self-Inquiry
  A newbie usually starts trading by reference from a friend or say buy realizing the ease of making money. They set out to rule the world through trading. They start to bet big without any strategy and start losing money. Trade one after the other to cover losses or by expecting the next one to hit big. This may go on for days to months depending on the stubbornness. 
• Self-Discovery Fundamentals, Chart Patterns, Oscillators and many more. Thanks to the internet, we have universities like YOUTUBE and blogs written in every indicator there is. They start reading books on trading and make their graphs, the garbage of indicators.
• Self-Awareness Self Awareness is more of realizing the fact, that's it's not easy as it sounded in those videos and books. Head & Shoulders pattern not always have equal shoulders and the neckline is not always horizontal. This is where one starts to consider his stupidity. I say this is the first milestone of successful trading.
• Self-Acceptance In this, they start accepting the fact that they are losing all their bets and might not have them or say they have already lost a good amount and cannot pump in more. Here is where they start following media and learn the different factors affecting the markets and again lose money in their improved version of it. They can lose the winning trade if not booked early, the market reverses from the exact point where they cut or stop the loss. There will again prove them wrong.
• Self - Reliance Whatsapp groups, Paid tips and Telegrams and many other sources are introduced to the trading world. Here is where they rely on these for sources again they become the new method of losing money.
• Self Empowerment Self Empowerment, my second milestone towards successful trading. Here they start empowering themself into unlearning them all and stop depending on others. In every market, there is a buyer and seller. One of their sources might be the buyer and another will be the seller, proposing them the exact opposite in the same market.
• Self-Worth A stage of no profit and no loss. After building their self-worth, they start making profits yet again to lose them. The third milestone, where they have understood the method of trading and yet do not have the discipline required to hold on to the profits. Overtrading, exiting their profits quick but cut their losses late.
• Self-Healing They start to use fewer indicators and start mastering the one or two they had the most success with. This stage takes the longest of their time, here is where they start owning their wagers and heal their mind from all the adrenaline and rush. Here is where the money management comes in and a strategy to earn in small pockets starts. They learn when not to trade, which is the most crucial part of trading.
• Self Respect They start making consistent profits and lean the art of disciplined trading. They start respecting themself to have rolled up from losing money to making consistent profits. They start to understand their trading style ie.. day trading or swing trading or both.
• Self Realization
  Even after making consistent profit the stages of development recycle again as they go big, by increasing the lots traded or the money invested. This is where they realize that trading is a process of continuous learning. Ensuring they achieve the same consistency with the big trades, will take time. With time they will improvise and they start booking constant big profits. 
• Self-Guided Destiny Here is where trading becomes more of a habit than an effort. Here is where one can plan on making it full time or a side income. As the life of a full-time trader is very boring and bad for their health. The monotonous lifestyle and hours in front of the screen will affect them Psychologically and Physiologically. Not everyone is made for this, a realization after the adrenaline wears out. The yoga and mind exercises help, but yet again one doesn't want to shorter their lifespan for it.

Every stage of trading takes time. Only when you achieve that consistency for a year is where you start accepting the completion of the stage. Do not go big with few good trades.

Time is the only deciding factor and you are your own evaluator.

Happy Trading