Fantastically accurate!

I am at #34, unfortunately (fortunately?)

Step-5 newbie here. Looking up and forward from here!
Thanks to NexusFi (formerly BMT) and everyone here for this excellent forum.

Hi shodson,

if you are on step 29, how do you know about the steps that will follow? Maybe there are nine further steps to go, maybe there are thirty-seven. Step 29 suggests that you have nearly made it. Many of us think in a similar way, otherwise we would not continue. Self-delusion keeps us all alive.

Each of us has different habits and skills, so the number of steps can be few or many. If you have a mentor, who provides you with a framework and points to your weaknesses, the process might be accelerated. The real danger is the habit of running in circles. This would increase the number of steps to infinity.

shodson 

I think I'm on step 29.. 1. We accumulate information--buying books, going to seminars and researching. 2. We begin to trade with our 'new' knowledge. 3. We consistently 'donate' and then realize we may need more knowledge or information. 4. We accumulate more information. 5. We switch the commodities we are currently following. 6. We go back into the market and trade with our 'updated' knowledge. 7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in. 8. We start to listen to 'outside news' & other traders. 9. We go back into the market and continue to donate. 10. We switch commodities again. 11. We search for more information. 12. We go back into the market and continue to donate. 13. We get 'overconfident' & market humbles us. 14. We start to understand that trading success fully is going to take more time and more knowledge then we anticipated. Most People Will Give up at this Point as they Realize Work is Involved 15. We get serious and start concentrating on learning a 'real' methodology. 16. We trade our methodology with some success, but realize that something is missing. 17. We begin to understand the need for having rules to apply our methodology. 18. We take a sabbatical from trading to develop and research our trading rules. 19. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. 20. We add, subtract and modify rules as we see a need to be more proficient with our rules. 21. We go back into the market and continue to donate.We go back into the market and continue to donate. 22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology. 23. We continue to trade and become more proficient with our methodology and our rules. 24. As we trade we still have a tendency to violate our rips and our results are still erratic. 25. We know we are close. 26. We go back and research our rules. 27. We build the confidence in our rules and go back into the market and trade. 28. Our trading results are getting better, but we are still hesitating in executing our rules. 29. We now see the importance of following our rules as we see the results of our trades when we don't follow them. 30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better. 31. We continue to trade and the market teaches us more and more about ourselves. 32. We master our methodology and trading rules. 33. We begin to consistently make money. We begin to consistently make money. 34. We get a little overconfident and the market humbles us. 35. We continue to learn our lessons. 36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size. 37. We are making more money then we ever dreamed to be possible. 38. We go on with our lives and accomplish many of the goals we had always dreamed of

In fact we're always learning in life...so it is 'infinity' ;-)

Fat Tails 

Hi shodson, if you are on step 29, how do you know about the steps that will follow? Maybe there are nine further steps to go, maybe there are thirty-seven. Step 29 suggests that you have nearly made it. Many of us think in a similar way, otherwise we would not continue. Self-delusion keeps us all alive. Each of us has different habits and skills, so the number of steps can be few or many. If you have a mentor, who provides you with a framework and points to your weaknesses, the process might be accelerated. The real danger is the habit of running in circles. This would increase the number of steps to infinity.

shodson 

I think I'm on step 29.. 1. We accumulate information--buying books, going to seminars and researching. 2. We begin to trade with our 'new' knowledge. 3. We consistently 'donate' and then realize we may need more knowledge or information. 4. We accumulate more information. 5. We switch the commodities we are currently following. 6. We go back into the market and trade with our 'updated' knowledge. 7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in. 8. We start to listen to 'outside news' & other traders. 9. We go back into the market and continue to donate. 10. We switch commodities again. 11. We search for more information. 12. We go back into the market and continue to donate. 13. We get 'overconfident' & market humbles us. 14. We start to understand that trading success fully is going to take more time and more knowledge then we anticipated. Most People Will Give up at this Point as they Realize Work is Involved 15. We get serious and start concentrating on learning a 'real' methodology. 16. We trade our methodology with some success, but realize that something is missing. 17. We begin to understand the need for having rules to apply our methodology. 18. We take a sabbatical from trading to develop and research our trading rules. 19. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. 20. We add, subtract and modify rules as we see a need to be more proficient with our rules. 21. We go back into the market and continue to donate.We go back into the market and continue to donate. 22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology. 23. We continue to trade and become more proficient with our methodology and our rules. 24. As we trade we still have a tendency to violate our rips and our results are still erratic. 25. We know we are close. 26. We go back and research our rules. 27. We build the confidence in our rules and go back into the market and trade. 28. Our trading results are getting better, but we are still hesitating in executing our rules. 29. We now see the importance of following our rules as we see the results of our trades when we don't follow them. 30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better. 31. We continue to trade and the market teaches us more and more about ourselves. 32. We master our methodology and trading rules. 33. We begin to consistently make money. We begin to consistently make money. 34. We get a little overconfident and the market humbles us. 35. We continue to learn our lessons. 36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size. 37. We are making more money then we ever dreamed to be possible. 38. We go on with our lives and accomplish many of the goals we had always dreamed of

I believe that I am around 30 or 31 at this point in my trading.

Cheers
Ryan

itrade2win 

I believe that I am around 30 or 31 at this point in my trading. Cheers Ryan

I am at 33... and I visited every state in my three years ( and probably 3000 hours) of hard work ......


Guys if you are not passionate about this , you will never make it .....

Passion is the only thing that will keep you alive when you will face the countless losses and the stinging feeling that all this time is wasted....

It is not about the money ..... it is about the game

Where was the part about where you get married, and then get divorced, and you wife takes half your money?

I'm rotating around 16-19. Once in a while I feel like 25, then realize most likely it's a momentary delusion.

tigertrader 

Where was the part about where you get married, and then get divorced, and you wife takes half your money?

I think that's step 13 - We get 'overconfident' & market humbles us