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Escaping phase one requires self-realization that gambling isn't working, deciding to implement systems and risk management.

From The Exact Reason You Haven't Made It As A Trader Yet · jumps to 5:19 · speech

▶ Open at 5:19 on YouTube
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What happens in this moment

That what you're doing isn't working. You don't want to gamble anymore. You say, I need a system. I need some sort of risk management. I want to actually understand what's going on. When I make money, why am I making money? When I lose money, what went wrong? So it's not as much, again, a time target or a amount of money target. It's this realization that you're done gambling. You don't want to gamble anymore. You're ready to take this more seriously and so if you've already watched 24 videos in this series, good chance you're no longer in P1, you're well on your way into phase two. Next up, we have phase two, which I call the tuition phase. Now, this is a very important phase because this is actually where most people who have the potential to make it, in my opinion, actually fall off.
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