How long before you became profitable?

[Hade]

I'm quite new to trading.
I have been researching hard and will continue to do so until I become a successful trader.
Luckily I absolutely love earning money and anything technical so I would be happy to make losses for a couple of years before I start making money.

I just wanted to know how long you worked hard at it before gaining the experience required to become profitable. And if you're not profitable yet, how long have you worked at it?

Thanks!

 

[donaldduke]

There are many different types of trading: scalping, day trading, swing trading, long term trading, stocks, options, futures, FX. Directional trading, non directional trading, automated trading, discretionary trading, technical analysis, fundamentals etc.

When you find a method that suits your personality and you can become profitable quite quickly probably within a year (if you work hard at it). But too be hugely profitable will take many additional years of practice.

But even before that it might take years trying different types of trading until you find a style that works for you.

So the journey is long unless you happen to be lucky and find a method that works for you quickly.

Finding a mentor with your preferred style will save time but they aren’t easy to find, failing that you need to read every general trading book you can find as well as books dedicated to your chosen style of trading. And during all this time you need to engage the market will real trades so you can continually learn from your mistakes.

 

[Hade]

Thank you.
I am currently spread betting medium and short term on stocks, indices and futures.
I suspect I may focus on medium term rather than short term due to less volatility.

I agree that doing trades will help hugely, so I'm placing £0.10 pp bets.

 

[bakoo]

Who are you using to get 10p per point bets? thanks

 

[Hade]

Who are you using to get 10p per point bets? thanks

Finspreads

 

[peto]

I just wanted to know how long you worked hard at it before gaining the experience required to become profitable.

Thanks!

Around 10 years, if you get lucky. The winners need the losers to lose for a while, to make their daily bread.

 

[Trader1UK]

3 years non-stop learning and still its tough.

 

[Hade]

Around 10 years, if you get lucky. The winners need the losers to lose for a while, to make their daily bread.

I doubt it'll be that long.
You can become a professional surgeon in less than 10 years!
Not saying trading will be any easier mind, but I'm a very technical person and a fast learner.

 

[peto]

I doubt it'll be that long.
You can become a professional surgeon in less than 10 years!
Not saying trading will be any easier mind, but I'm a very technical person and a fast learner.

Professional surgeons don't require a steady stream of unsuccessful surgeons in order to make a good living.

 

[james111h]

finspread any good hade ?

 

[bnaimy]

When i stopped listening to the self proclaimed masters, thats when i started to make it.Thank good i saw true their bs prettty fast :cheesy:


With kind regards
Bashir Naimy