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Sunday, October 26, 2014

LIFE CYCLE OF A TRADER

LIFE CYCLE OF A TRADER.
 FIRST PHASE
1)DEFINITE TO LOOSE PHASE:
 PEOPLE ENTER THE MARKET WITHOUT ANY STUDY AND PREPARATION. ANY PROFESSION NEEDS STUDY AND SOME PRACTICE. LIKE DOCTORS AND ENGINEERS ONE HAS TO STUDY AND PRACTICE. PEOPLE DON'T CONSIDER THIS BASIC PRINCIPLE.AND LOSE MONEY IN THE MARKET

SECOND PHASE
2)FEAR BASED TRADING PHASE: 

 IN THIS PHASE BECAUSE OF PREVIOUS EXPERIENCE WITH THE MARKET, BUT STILL WANTS EARN MONEY DO THE TRADING BASED ON FEAR ( NOT WITH A SPECIFIC STRATEGY AND SETUP IN MIND)

THIRD PHASE

3)SEARCHING FOR THE HUNDRED PERCENT SUCCESS SYSTEM PHASE

THE SEARCH NEVER ENDS EVEN AFTER  THEIR CHILDREN GO TO SCHOOL AND COLLEGE AND GET MARRIED.
UNLESS AND UNTIL THEY JUMP TO NEXT FOURTH PHASE THEY GO BACK TO FIRST PHASE AND COME TO THIRD PHASE AND REPEAT THE CYCLE.

FOURTH PHASE

4) DEVELOPING A STRATEGY AND WORKABLE PLAN PHASE

IN THIS PEOPLE ACCEPT THAT LOSSES ARE BOUND TO HAPPEN IN THE MARKET PLACE.
THEY DEVELOP A STRATEGY OR SETUP TO TO MINIMIZE THE LOSSES AND MAXIMIZE RETURNS WITH PROPER MONEY MANAGEMENT
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