The mastery of trading is a long and uneven process of consistently looking for improvement combined with a high level of discipline. The steps that I have outlined here are not a prerequisite for successful trading, but definitely act as a great tool for improvement.
Guest post by: www.colibritrader.com
Steps to Mastery
STEP 1: Visionary
EVERY master trader should be able to envision the end result and then follow a predetermined set of rules in order to achieve these results. Master traders are trading in terms of commitment to a higher goal, as opposed to reaching self-fulfillment. For this step, it is important that the master trader should be able to get rid of assumptions about himself/herself and be ready to act in the next moment disregarding old illusions. Thus, following his/her own momentum the master trader enters in the moment or “in the zone” as others are referring this phase to. This is the moment, when the old habits do not matter and you trade through the prism of your consciously chosen objective. You are taking a new challenge and the self-limiting of yourself is left behind to only come closer to your pre-defined objective. In this stage, you are learning how to get out of losers or “uncomfortable” positions, while your objective is pushing you subconsciously to move closer to your goal. The master trader thus puts essential emphasis on controlling losses.
STEP 2: Emotionless
IT is essential that the master trader trades from a perspective of rationality and skill and not from an emotional perspective. To a certain degree, the master trader should be willing and able to learn how to act in a contrarian way to human nature. In other words, the master trader needs to know how to harness the power of consciousness. In a way, this is like inventing a new perspective, which can give you the ability to see the market in a different angle, while at the same time being able to take responsibility for your own deeds
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