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Trader Roadmap

The document outlines a roadmap to become a trader, divided into five phases: Foundation, Core Skills, Strategy Development, Go Live, and Scaling & Specialization. Each phase includes specific goals, learning resources, and practices to develop trading knowledge and skills. The roadmap emphasizes the importance of risk management, continuous learning, and specialization in trading niches.

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mgoal8023
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181 views3 pages

Trader Roadmap

The document outlines a roadmap to become a trader, divided into five phases: Foundation, Core Skills, Strategy Development, Go Live, and Scaling & Specialization. Each phase includes specific goals, learning resources, and practices to develop trading knowledge and skills. The roadmap emphasizes the importance of risk management, continuous learning, and specialization in trading niches.

Uploaded by

mgoal8023
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Roadmap to Become a Trader

Phase 1: Foundation (1-2 months)

Goal: Understand basic trading concepts

- Learn the Basics:

- Stock Market, Forex, Crypto, Commodities

- What is trading vs. investing?

- Order types: market, limit, stop-loss

- Risk management & position sizing

- Free Resources:

- Investopedia tutorials

- YouTube channels: Rayner Teo, Trading 212, The Chart Guys

Phase 2: Core Skills (2-3 months)

Goal: Master technical and fundamental analysis

- Technical Analysis:

- Price action, support/resistance

- Candlestick patterns

- Indicators: RSI, MACD, Moving Averages, Bollinger Bands

- Charting platforms: TradingView, ThinkorSwim

- Fundamental Analysis (for stocks):

- Earnings, balance sheet, P/E ratio


Roadmap to Become a Trader

- Economic indicators for Forex: interest rates, inflation, GDP

- Practice:

- Open a paper trading account (e.g., TradingView or Investopedia simulator)

Phase 3: Strategy Development (2-3 months)

Goal: Build your own trading strategy

- Backtest Strategies:

- Intraday, swing, or position trading?

- Use historical data to test your edge

- Focus on one market/timeframe at a time

- Start Journaling:

- Record trades: entry, exit, reason, emotions

- Learn from losses & optimize

Phase 4: Go Live (3-6 months)

Goal: Trade small amounts with real capital

- Start Small:

- Use discount brokers (Zerodha, Upstox, ICICI Direct for India; Robinhood, IBKR, eToro internationally)

- Follow Risk Management:


Roadmap to Become a Trader

- Risk only 1-2% of your capital per trade

- Use stop-loss religiously

- Track & Improve:

- Weekly review of performance

- Learn from mistakes and market patterns

Phase 5: Scaling & Specialization (Ongoing)

Goal: Grow capital & specialize

- Specialize in a niche:

- E.g., Options trading, Scalping, Crypto futures, Commodities

- Automation & Tools:

- Learn algo trading (Python, Trading APIs like Alpaca, Kite)

- Use screeners and advanced analytics

- Stay Updated:

- Follow economic news

- Subscribe to financial blogs, YouTube, or Discords

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