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Hi,
Traders are a varied bunch and all categorisations are to some extent odious.
But if one has to categorise traders, clients have often found the
following categories as useful as any other.
Traders can self-assess themselves as being in one of eleven states:
Stage 1 I am losing money
Stage 2 I am not losing money but I have big swings in my account value
Stage 3 I am not losing money and my account value is fairly steady
Stage 4 I am making a little money but it is not worth the risk and effort
and stress
Stage 5 I am profitable in least in terms of my effort
Stage 6 My reward to risk ratio has doubled; my account size grows steadily
Stage 7 I am ready to find ways of evening out my monthly profits/reducing
drawdowns
Stage 8 My profits are smooth, how can I improve my reward to risk ratio more?
Stage 9 I want to further reduce my stress
Stage A I want to become serene
Stage Z I want to be in tune with the markets
Anatomy of a Loser
---------------------------
Everyone is different and needs to treated as an individual. If you
self-assess as being in Stage 1, the most common symptoms experienced (and
perhaps needing resolution to get to the next stage) include:
• following tips or whims,
• not being able to sleep for worry,
• not having confidence in your understanding of market behaviours,
• not having a trading system that mirrors your understanding of market
behaviours.
There are of course many other attributes, but these seem to be the most
common.
There are of course ways of resolving these symptoms and some guidance is
available for the usual no charge - as all my services are free.
For the cynics of this world - my services are free because that is
probably all they are worth.
If you are not open to change, do not even bother to inquire - I for one,
will not waste our time.
Hope you find this helpful, Ric.
www.traderscalm.com
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