38 Steps to Becoming a Trader

1. We accumulate information: buy books, attend seminars, research, and study.
2. We start trading with our "new" knowledge.
3. Constantly paying dues to the market, we begin to realize that perhaps we need more knowledge.

Gam3r, mathematician, biologist, philanthropist

4. We accumulate even more information.
5. Switch to other trading instruments.
6. Return to the market and trade with "updated" knowledge.
7. The market beats us up again, and we begin to lose confidence. Fear creeps into our soul.
8. We start listening to the news and the opinions of other traders.

14. It dawns on us that to trade successfully, we will have to spend much more time and effort than expected.
At this stage, most quit trading because they realize that TRADING IS WORK.
15. We take it seriously and start focusing on studying a "real" methodology.

16. Trading with this methodology has mixed success, and we feel that something is missing.
17. We realize that we need rules.
18. We take a break from trading until we create our own set of rules.
19. Resume trading, now with rules, again with mixed success, because we keep breaking the rules.

20. Add, subtract, and modify our rules, trying to take them more seriously.
21. We feel that the era of successful trading is near.
22. Realize that only we are responsible for trading results, and that success depends not so much on the methodology as on us.

23. We continue to trade and refine both our methodology and how we follow the rules.
24. Nevertheless, results are still inconsistent because rules are occasionally broken.
25. But we feel that success is just around the corner :)
26. We review the rules.

27. Gain confidence in the methodology and rules, and return to trading.
28. Results become much better, but we still occasionally doubt our actions.
29. Comparing trades "with rules" and "without," it becomes clear that success lies in the rules.

30. We understand that success lies primarily within us, in our ability to trade disciplined, and that the cause of mistakes is some fear we experience, and we start working on ourselves.
31. Continue to trade, and the market helps us understand ourselves more and more.

32. We master our methodology and entry/exit rules.
33. Earnings from trading become consistent.
34. This adds overconfidence, and the market again shows us who is in charge.
35. We continue to learn humbly.

36. We stop overthinking trades and let our rules and methods do all the work. Trading becomes boring but consistently profitable. The deposit continues to grow as we increase the size of the traded positions.

37. Our earnings exceed all possible expectations.
38. We begin to see that there are other worthy pursuits in life and direct our energy elsewhere

9. ...Only to return to the market and pay dues again.
10. We switch to another instrument again.
11. Seek more information.
12. Return to the market and start making a bit of profit.
13. With profits comes overconfidence, and the market quickly reminds us who is in charge.