How Long Does it Take to Make a Stable Income from Trading?

Does anyone on this thread know anyone who makes 6% a month or has turned a $10k account into one significantly larger?

(For those who sell options to make 6%/month - have you ever had a blow up?)

If you want to make meaningful money, from trading, you need an account of at least £20k. If you lose 20% of it, walk away and forget about trading. You lost money but, put it down to experience.

The difficulty is that many people start out by opening a trading account with a spread betting company or market maker. Immediately, you are facing an uphill struggle to make a profit. Most of these companies will rip you off on a regular basis. It may be only a few pounds/dollars here and there but, it adds up. I only found one company who I thought were 100% honest.

Over 25 years, I've made a lot of money from trading and I've lost a lot. I used to make 80% per month, on behalf of myself and friends, until the strategy blew up in my face. I still trade but, these days, I prefer the less stressful environment of sports betting.

I've got an excel sheet of my trades from £483 (starting capital) to ~£150,000 over from '07 to '09. (Personal account rather than work account).

Hey
Stick with the longer trades. I full time trade and can't make money on Forex. Its just to volatile and unpredictable. Just as a note I start with £200 capital and built it up over 2 years

The thing that gets me the most is that most people expect to make money right away, or if they don't make money in less than 6 months they quit

Depends, how dedicated you are.

For most traders it take several years.

In most cases a new trader losses his/her first portfolio - do not put a lot into it (not all you have) and be ready to lose it. Then if he/she does not give up in a couple of years of learning and searching he/she usually makes it.

You can reduce your learning curve significantly by implementing systems in trading. Preferably semi or fully automated systems where you know or control how the system enters and exit the markets.

Focus less on time as an abstract concept (zero control), and instead focus the majority of your efforts on approach and systemic implementation to entering and exiting trades (complete control). Time is really irrelevant, except that you are born into this world and one day you will leave.

do you know a lot of traders who do it for 6 months then quit? that sucks, quitting after spending so little time