There are five levels of tradr that discuss in this article with you.please read carefully it will help you a lot.
LEVEL ONE: Beginner Trader
To study and paper trade for a
minimum of one month with imaginary money, gaining the
experience required to establish a track record of profitable
performance.it will give you a lot of ideas and some experience. Think about your education as an investment on yourself, not as an expense.
LEVEL TWO: Advanced Beginner -
To trade one or two lots with
real money yes !!!!! with real money, working through emotions and establishing a track record of making money.The goal of every new trader should be to build up their contract size to be able to scale in 1/4's as quickly as possible.Once you are consistently profitable with a four lot then it is easy to increase size and be profitable with an eight lot, or a 24 lot, etc.
Even the difference between trading two lots vs one is paramount. With one lot you are all in or all out. Period. With two at least you can book something and still leave on one contract for a potential runner. If you are trading one lot, and profitable, I would encourage you to up your contract size to two immediately.
LEVEL THREE: Competent Trader
To trade in control with
equity management, achieving a financial return.The market is always changing and it may be hard to understand and keep up with these changes unless you understand in a good manner.
LEVEL FOUR: Proficient Trader -
To trade based on my belief,
education, and experience and achieves a financial return.
LEVEL FIVE: Expert Trader -
To mechanically execute profitable
trades with no emotion.
