Those who take the first, but confident and firm steps in earning capital on the Forex market, ask the same question – how to become an experienced trader.
How to achieve professional heights in the Forex market
The unconscious competence of a trader is a consonant phrase that excites the minds of those who are on the verge of new opportunities that the international financial tycoon FOReign EXchange, or simply FOREX, opens up for newcomers.
Anyone who decides to get to know this system better, at first imagines himself as an almighty, perspicacious, and therefore a successful figure, who may not from the very first, but from the second time, will certainly succeed. And every novice trader does not even come to the realization of what nuances he will have to face before he completely surrenders this ocean.
Forex is a financial exchange market. And finance, everywhere and in everything, loves an ideal order, surrounded by a set of rules and created laws that must be respected and followed.
In the Forex market, the rules apply to everyone and everything who came into contact with this system. And in order for the concept of “unconscious competence of a trader” to become a visiting card, a newcomer will have to overcome four stages of becoming perfection and confidently step on the fifth, the very cherished one where deserved recognition awaits. So…
Stage one
The first step on the path to perfection is called “Unconscious Incompetence”. This is the level of beginners, those who are full of strength and desire, because they have already “heard, seen and know” what’s what. At this stage, a young trader learns to analyze charts, price jumps, and other nuances that are not at all difficult at first, right up to the conclusion of the first deal.
After that, the first doubts creep in that everything is not so simple here. Where will the price move? Guess or miss? Someone takes risks, and invests a lot of money, and someone is saved by intuition, it makes the self-confident stubborn think that he is not yet well versed in everything. This state is the very smooth transition to step number two.
Stage two
The second stage of personality formation is called “Conscious incompetence”. At this stage, the trader already understands for sure that he is still “weak” and the level of preparation is at zero. He begins to chaotically study systems, ask for advice, play with indicators, visit forums and experience advice from “experienced” ones, but … he still has nothing. Having gone a long way of such ordeals and wanderings, the “weak” are eliminated (this is the basic law of survival!), And the strong move to the next, third level.
Stage three
The third level got its name from the great Einstein – Eureka. The trader’s eyes finally opened. Somewhere in the middle of the previous stage, he began to suspect that the whole essence of success lies in the ability to control emotions and manage capital. What can help? Only literature on psychology.
Having more or less figured out oneself, one’s own system begins to build, based on strict discipline and constancy of views.
Stage four
The fourth level is already ” Trader’s Conscious Competence “. Here, a professional trader confidently opens deals on a signal from the system, and unprofitable ones are closed with the same ease. And even if there are mistakes, the rules are learned perfectly!
Unconscious competence
And now, finally, the final stage. The unconscious competence of a trader, where he “Guru” feels like a fish in water. The profit comes easily and is all two hundred points! From now on, the financial world of Forex is completely open!
