EP 067: Money Mondays Episode 5: The 4 Stages of Learning About the Stock Market

And in this Money Mondays episode, I broke down how they apply to the stock market. 

Knowing the stage you are in will help you keep moving up the ladder to becoming a financial strategist with respects to the stock market. 

Whether you are a beginner stock trader or have been doing this for quite awhile, these stages have to be gone through by every single one of us traders. 

Watch the replay below to see what stage you are at and what steps you need to take to get to that last stage. 

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You don't know what you don't know. 

You unconsciously do not know that something exists or that it is even possible. 

For example, you are aware that the stock market exists... but you may not know what types of trading there are, what any of the terms mean...

And even beyond that, you may be skeptical or your friends may be skeptical that it even works. You may doubt it and have unawareness of how it works for others.

This can cause you to ask good questions and not put you in a bad situation blindly BUT...

"You can't be broke and skeptical at the same time", my mentor used to tell me . 

So this is a stage you definitely have to get out of. 

Find friends, coaches, and a community who it HAS worked for and who ARE successful with trading in the stock market. 

(For example, join our free Facebook community - click here) 

This is where you know there is something that you don't know. 

You are aware that people are making more money than you and that a means to do that is the stock market. 

So at this stage, you know it's POSSIBLE you just don't know HOW. 

This is where you begin your search. You are done doubting, you have found people who it has worked for and you want to learn how to do it, too. 

You may even start to place your first trades and make a few mistakes. 

This is a key step to come into, but it's important to keep going...

And to do that, you need to gain the right education and surround yourself with the right amount of people. 

Now you are entering into understanding what you need to do. 

You have a brokerage account, you're funding your account, and you may have taken a course or coaching program in order to trade. 

BUT at this stage, you still are thinking before taking action. 

You may be referring to your notes from your education or continue to ask your coach questions... it's not second nature to you yet. 

This is typically where impatience kicks in because people are making money but you may not be as good as them yet. 

Or you may be having some success so you are tempted to deviate from your trading plan or needing to learn more, you may want to skip ahead (which would not end well). 

So that's why you have to continue education and you have to keep practicing to get to the final stage... 

The final stage to stock market learning is Unconscious Competence.... 

Which means that now you do not even need to think before you make your stock trading decisions. 

It is second nature to you - you don't think, you just react. 

You also at this stage are NOT emotional about money. You know making money is apart of your routine but also losing money sometimes is apart of your routine. 

At this stage... you need to be cautious of becoming cocky. No one has ever "made it" because there is ALWAYS something to learn about the stock market. 

You are successful when you continue to learn, stick to your trading and financial plan, and keep going. 

If you are looking to gain more education about the stock market check out my resources below...

1. Stock Market Starter Pack - Free Download - CLICK HERE 

2. What's the Best Trading Account for Me? - Blog Post - CLICK HERE

3. How to Potentially Profit in Any Market Condition - Free Webinar -
CLICK HERE

4. Premium courses and coaching to go from beginner to trader - Power Trades University - CLICK HERE