Day Trader Competence
First, we need a map so we can plan the road trip - agree on the destination, how we will get there, and the resources required, along with outside help, like an auto club or maybe a GPS system, to be sure we stay on track to get to our destination - peacefully, safely, and successfully.
We also need a map to spot the attractions to make the trip a valuable learning and fun filled experiences. We can even use the map to limit any driver or passenger doubts or to resolve travel disputes. And, of course, we need a map so we don't risk a wipe out on some treacherous road or otherwise put the car and or our lives at risk.
Now in day trading, in developing your career as a day trader, we also need a map. We need a competence map to avoid getting lost, to maintain trust and confidence in learning (with your performance coach) and, as you aspire to be a winner, to learn to consistently win. And we need a map when we find ourselves lost in our trading game - to get back on track to eventually reach our career goals.
Like a road trip, we need a competence map to prevent any emotional or financial wipe out. We need a map to learn to trade well - a day trader Competence Map.
My invitation - use this guide to avoid getting lost as you advance your day trading competence, confidence, and performance - as you / we forward your career as a day trader winner.
We can also use the guide to maintain trust and respect in our relationships, to see where we need to be next, and to avoid wipeouts along the way. Use the guide to assure we get you where you want to be as a winner, so you can achieve all your career aspirations as effectively and profitably as your potential allows.
For day traders to trade at their best, for anyone doing anything at their best, and for day traders to learn to consistently win, I offer you my day trading Competence Guide - below.
Learn and enjoy.
Day Trader - Competence Guide
Levels of Incompetence
The Bull - unaware he is a danger to self and others:
Blind - unaware he is a danger, Innocent - doesn't know he doesn't know, Suffering - suffering the consequences.
The Jerk - aware he is a danger to self/others:
Aware - he is in trouble, or a trouble maker, Ignores - cares less, does nother to resolve or prevent, Closed - closed to any change/learning, Suffers - suffers both emotional and financial consequences.
Levels of Competence
The Beginner - unsettled, lacks direction, seek help:
Humility - humble, less pretense/arrogance, knows what's missing, Willing - willing to learn, Commits - declares incompetence and commits to learn, Trust - sincere, competent (keeping promises), performance (gets results).
Minimally competent - has context, direction, and support:
Effectiveness - becoming effective, yet still a danger, Anticipates - beginning to anticipat opportunities and breakdowns. Relationships - building trusting/valuable relationships for learning.
Competent - performing effectively, winning:
Change - open for change, learning to trade well, Identity - building an identy within a trading community, trustworthy, Confidence - more settled, takes care of self, less arrogance, Thinks - still needs support and carefully thinks things over before actions, Winner - trading well, becoming a consistent winner.
Highly Competent - takes care of concerns:
Winning - consistently winning, Mastery - gaining mastery, Grateful - thankful for the opportunity - learning, coaching, new career, Contributing - using what he has and knows to help others do likewise.
The Virtuoso - acts competently with ease:
Excellence - peak performance, Instinctive - little need to think, intuitive.
Mastery - becoming a legend:
Innovates - ongoing servering, learning, contributing, Invents - new practices, the game itself.
As you gain competence you gain confidence and the ability to perform better. As you become more competent your relationships with the markets and stocks, your relationship with your coach, and even your relationship with your self will change. These relationships will improve dramatically. And, get this, as you become more competent, you'll experience a profound bonus - all your relationships will improve. Let me repeat, all your personal and business relationships will improve - as you develop your competence as a day trader.
About business and success:
Whatever you have learned to be successful in business in the past, whatever you've worked so hard to give you success in any relationship or business, and most of what allowed you to be successful in the past is not going to help you be a successful as a day trader.
Traders love to think they know it all and feel they are in complete control. And, naturally, they try to learn to trade on their own. After all the have been admired for their accomplishments and accomplishments in a wide area of endeavors.
In day trading knowing and control are illusions. All of your knowledge, all the control you can muster, all of the rules that worked to make you a success in any area of your life till now are at the source of your losing.
"Hey, wait a minute here, you're telling me what I do very well is a problem?" You got it. Sorry, but that's how it is.
The market cares less about what you think, how clever you are, or what you hope to do to win. Winning requires composure, wonder, and courage - humility and instinct, not arrogance.
Moving from Losing to Winning is all about learning.
Learning to consistently win requires humility, resources, and total commitment to gain the competence and thus the confidence to win. Learning never happens on your own. Learning happens in a community - for day traders, a community of day trading winners - and that's our invitation for you - to learn to consistently win.
Comments & questions:
Wealth@DayTradersWin.com
About Winning:
"Excellence is an art won - by training (coaching) and habituation (practice). We do not act rightly (competently) because we have virtue in excellence, but we rather have virtue because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit."
Aristotle Comments & questions:
Wealth@DayTradersWin.com
About the Author
Day Trader Consulting and Coaching and Day Trading Room
