In this episode of the SimCast, we were joined again by veteran trader Roman Bogomazov. Roman is the purveyor of WyckoffAnalytics.com and is one of the most prolific technical analysis educators in the world. His approach to trading mastery stems from a deep knowledge of advance market analysis techniques based on Richard Wyckoff.
In Part I and Part II of our interviews with Roman, we covered his trading history and the basics of the Wyckoff methodology. If you missed those episodes, please do yourself a favor and check them out.
In this episode, Roman breaks down his strategy for teaching trading mastery. As part of this, Roman discusses the importance of mentorship, speeding up the process, competing against yourself, and more. In addition, Roman shares his 4 steps to mastery:
These are his 4 core components to building mastery in trading. Along those lines, we take the time with each step in the interview, sharing practical examples of each.
For example, within the knowledge level, your goal is to read, read, and read. You read about technical analysis, psychology, and more. Consequently, it isn’t until you reach the skill component that you begin to practice. This evolves into a process and mindset where Roman recommends reading less and doing more observing.
As an advanced trader, you should have the foundation already. Your time is better spent developing your skills and scaling up your consistency and wealth.
Lastly, Roman discusses the importance of community and feedback.
For more information about Roman, be sure to follow Wyckoff Analytics on Twitter.