Competency Matrix

 The competency matrix reveals a process whereby individual progresses from one level of competence to another. The phase of the matrix as they apply to trading includes the following:

Unconscious incompetence stage	Conscious incompetent stage
Unconscious competent stage	Conscious competent stage

1. Unconscious incompetent stage: This stage describes a person who cannot trade successfully but doesn’t know it. Too many online traders fit into this category.

2. Conscious incompetent stage:  describes a person who cannot trade successfully and knows it!! . He should seek education and knowledge before proceeding.

3. The conscious competent stage: describes a person who can trade successfully by thinking about it and following a plan. Many have been confused into thinking they are in this phase when in reality they are experiencing luck in bull market.

4. Unconscious competent stage:  describes a person who can trade successfully and consistently on pure instincts. While mechanical knowledge is dynamic, it is likely that these people can reach and remain in this stage because they know themselves well and they understand the psychological influences on their thinking. This stage is the goal of every trader.

You are in which stage??