Phase one traders lack strategy, risk management, and journaling; trading is improvised with no systematic approach.

So you're on social media, you're on YouTube, you're watching some videos, you're on Twitter, and Instagram, you're following some influencers and you're learning some of the words, right? You're learning the trading jargon. You feel ready, you're not, but you're enthusiastic and inside that kind of feels like the same thing. But ultimately, you have no strategy. You have no risk framework, right? You're not journaling. You don't really have any idea what you're doing at all. Every single trade you're taking is improv. Nothing is systematic, nothing's repeatable. Every trade is completely improvised and it is like a blank slate.