TRADING EXPERIENCE
- Thread starter OscarR
- Start date
Traders With Edge
Active Member
There's no exact answer to your question, as the amount of trading experience necessary can vary greatly depending on numerous factors. It depends on your ability to grasp complex financial concepts, your risk tolerance, emotional control, and how quickly you learn from your mistakes. For some, a few months might be sufficient, while others might need several years. Importantly, learning to trade forex effectively is often a process of continual learning and refinement, even for seasoned traders. One key point is to start trading with a demo account before going live, ensuring that you are comfortable with your strategy and understand the risks involved. Consistently profitable trading often requires extensive practice and experience.
The most important part to speed up the learning curve is to treat trading like a profession - just like doctors, engineers, or any other job that requires skill and expertise. Rushing the process is not advised, as understanding the intricacies of the market takes time. Your emphasis should be on learning and understanding the principles of risk and money management, as they are vital for consistent trading. Remember, trading is as much a mind game as it is a probability game. It's essential to manage your expectations and understand that you won't win every time. Prioritizing a good risk to reward ratio can significantly help in maintaining consistent profitability over the long run. Make sure to put this into practice in your trading journey.
The most important part to speed up the learning curve is to treat trading like a profession - just like doctors, engineers, or any other job that requires skill and expertise. Rushing the process is not advised, as understanding the intricacies of the market takes time. Your emphasis should be on learning and understanding the principles of risk and money management, as they are vital for consistent trading. Remember, trading is as much a mind game as it is a probability game. It's essential to manage your expectations and understand that you won't win every time. Prioritizing a good risk to reward ratio can significantly help in maintaining consistent profitability over the long run. Make sure to put this into practice in your trading journey.
2-5 years for learning only. And it depends on your luck as well.
It may be infinite if you do not find a way that fits your own style.
With that in mind, you will be able to overcome the strong pain and suffering that accompanies the process to become a breakeven trader. After 6-months to a year of being a above-zero monthly profit trader, you can start to think you have an edge.
So, imho, 3-6 years would be a good assumption with almost zero percent likelyhood to become a trader. I mean, you need to be very strong, determined and take this very seriously if you want to have a chance.