Different Stages of Trading

There are very predictable stages in any traders trading cycle.They are as under :1) Total beginner stage : We all started with this stage,we make some money on stocks or Options bought on tips and recommendations of someone and feel that this is a good way of earning some extra income,quick and easy money but soon we get disillusioned as some tips fail and we are left with holding some worthless stock and most of Options expires worthless ,then we decide that we must make our own study and make our own decisions.
2) Holy Grail Indicator/method stage :Then comes a stage in which we desperately go after books,new indicators,Metastock,Amibroker,RSI,ROC,MACD etc .We are fully convinced that out there there is some secret formula,some magical indicator or some key to trading riches and if we manage to find out that we will make it in trading this search continues for long time and we finally realize that there is no holy grail or a super indicator which will never fail.This is a stage where one believes that to be successful you need to have contacts with operators,inside information,market movers etc
3) Making Money

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