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How to become an Expert Trader making Money?

Posted By On 2/01/2009 12:48:00 PM Under

1. Each one of us has a dream of becoming a successful trader but for that one has to pass a few acid tests and one has to determine the level at which one is trading. A trader normally passes through 6 stages and same are listed below:
(a) Stage One: The Clueless Trader - 90-95% traders lose money in this stage.
(b) Stage Two: The Rookie Trader - One starts to realize that he / she do not know about the market and thus search for info.
(c) Stage Three: The Developing Trader - Starts reading numerous trading articles as info hunger is taking as a passion.
(d) Stage Four: The Determined Trader - One learns to specialize in certain markets and trading methods.
(e) Stage Five: The Consistent Trader - One has achieved a fair amount of knowledge and thus one strats with a trading method and start taking trades systematically.
(f) Stage Six: The Expert Trader - one completely understands the market and knows how a stock is going to behave.

2. Thus find your level of trading experience and aim to become an expert trader as it requires a lot of patience and preseverance. Their is no short cut and one has to pass through all the stages and has to spend a considerable time in each stage.

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