Day Trading & Forex Forum

cofton

6 months to a year with a good mentor and a feel for for trading and of course with immense discipline.
But of course some people just have not got the right personality for trading.

1 to 3 years if you study like crazy and devote most of your time to learning (and losing money). Without a good mentor you will have to read many publications and study charts until you drop.

3 to 5 years if you study part time and are still very dedicated.

Over 5 years full time. Then maybe this isn't the industry to be in.

Over 5 years part-time. Maybe you will end up a good trader because you have proven patience and determination.

Of course we haven't defined what a 'successful trader' actually means.

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The Possibilities Are Endless......

Loss Of Opportunity is Preferable To Loss Of Capital

The Market Will Always Provide You With Another Opportunity But It WILL NOT Provide You With More Capital !

ES_Trader_USA

Trading is a minds endeavor. Traders trade well for many days, months and then get into trouble. I have been trading since 1997. Lost several accounts, went out and worked and got trading capital to trade again. If you have a business or other income source you have greater staying power, but then the distraction from earning a living elsewhere can have an impact on how you trade and how successful you are.

Word of advice (from the experienced) is to get the knowledge first by reading some good books on technical analysis and fundamentals. Then trade with a mentor real time with demo/paper trading at first. Then real money trades shadowing your mentor with small amount lots. Learning the reason for each trade.

If the above is followed it should take about 3 years of hands on trading to become consistently profitable professional traders. Actual results may be longer depending on the mental state of the individual. Don't believe it is going to be any less. The volume of information and emotional pressure takes time to digest.

All the best ! ........... remember "The winner takes ALL"

satman007

the 31%+ of result as " i m still not a successful trader" proves its not easy
though here again,,,"Success" definition is different..though most will talk of making money only as success, be one way or another

STill i think a valid study and experience gaining of a year or so....can make a Successful trade money wise

Marwan2010

I taught my son, aged 14, to become a traer in 30 minutes.
real micro account 10 trades and 8 wins
simple system - break of trendline, break of 200 ema!

He did not have the bull**** in his mind which we adults have!

afafreddy

How long does it take to become a successful trader?
If you want to become a successful trader then there is only one answer that should matter to YOU, and that is "however long it takes". Persistence and perseverance are cited as 2 of the most important character traits that famous winning traders like Nicolas Darvas had.

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No technique or strategy is worth more than the discipline you have to implement it.

jaspertrademaster

I totally agree that it's "however long it takes"!

manicman

Hi,
sounds like youv'e been there, can you advise on some decent books for a kickoff, and how research should you conduct before starting paper trade with a reasonable idea.
Regards,
Manicman

oildaytrader

Great thread and great contributions from some highly knowledgeable traders.

10 years in my case ,before I found enough knowedge,systems,methods and skills to say "I can always beat the market"

The time period is relative to how much of a trader you become.In my case knowledge and skills included gaining the knowledge as a basic trader, then spending three more years on developing highly profitable automated systems on oil, indexes,currencies,futures and stocks.

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