Article The 3 Phases of Trading Business Maturity

T2W Bot

Staff member
1,456 55
As a new trader, or as one who has gained a new vigor, to be successful we must understand that the road ahead of us will not be easy, nor will it be a quick journey. The path is filled with daily challenges that will test our skills, both technical and mental.
In fact, most traders do not even progress past the start up phase. They fail to:

Learn to take a loss
Learn to be wrong
Learn that in fact, to succeed, this business is VERY Difficult!!

The one constant fact that all successful traders say is true, including Borselinno, Fisher, Jones and more, is that it will take time to become a successful trader. Borselinno says at least a year, Fisher says maybe 2 years, but they all say this business has nothing to do with instant success. Quite the contrary, as most successful traders say that Survival is the first key to success. "Love to take a loss" or "Keep the losers small" all give big clues that indeed we must survive in order to prosper.
As a business consultant, I have...
Continue reading...
 
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Rhody Trader

Senior member
2,620 264
Jim Harrison's article discusses how market participants go through a developmental progression as they move from newbie to experienced (and hopefully successful) trader.
 

bobltrade72

Newbie
4 0
All pretty obvious stuff but its sometimes helpful to read reminders like this nonetheless.
 

JumpOff

1
702 14
In phase III, what does this mean? I understand the 1st sentence, but not the second.

We learn how to handle huge dollar profits, but keep our perspective. Return on Investment vs. Time to money.
JO
 

ZDO

Active member
193 26
JumpOff,

He seems to be getting at two things

1) large, especially geometric, gains trigger a whole string of unforseen inner traps and challenges

2) It takes a different skill set to keep wealth than it does to accumulate wealth

hth
 

vetten

Member
78 4
excellent article
yes we do make things more complicated and start trying to use all kinds of tools
where is that secret???

and what you have to do is planning, learning, planning, learning and more planning and learning

but there are not many people that want to put in the hard slog. they try to make heaps of money the
easy way.

i`m already 7 years into this game and finally get to stage 2
a bit slow aint it?????
but I will get there
 

peto

Established member
924 72
Swang said:
1: fist through monitor screen
2: scotch
3: acceptance
:p :p

I like i!

This strategy probably works best for tft screens, there's some fairly important arteries in your wrist and suicide seems a 'phase' too many?
 

NVP

Legendary member
36,875 1,900
reinforces acknowledged principles and pitfalls .....why is it all of us still take the same path regardless of warnings ?
 

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