How Long Does it Take to Become a Successful Trader?

[oildaytrader]

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"

Great post .Need a successful trader who has done it, be your mentor.Mentors and trading educators are not qualified to breed success, only snake oil salesmen mentored is profitable.

 

[jawamebel]

depends on fate. every person is different, sometimes long, sometimes it can be fast.

 

[hokid]

10 years........and counting

I think it need more than five years... but less than ten years

 

[forexdiscussion]

It depends on how you define successful trader. In my opinion successful trader is the trader that is discipline to follow their trading plan and consistently make profit.

 

[GFSignals]

What? "I'm still not a successful trader" - 101 votes? Sad statistics, my friends(

I think 3 years would be enough to understand market and work out a strategy.
But of course there are no limits fro perfection)

 

[Fdrix]

I think 5 years

 

[Mfler]

It depends on the material you have access to.
With proper education you can become successful over 6 month.

 

[angelnish]

Trading is a real brain twister. It doesn’t matter how much you have studied or how smart you think you are. You have to be able to ferret out the opportunities and capitalize on them. There is this constant tug-of-war between your personal psychology and the reality of the markets, so you have to constantly monitor yourself and adjust your thinking. Feelings about what defines success and failure have to be kept in constant check, and that is an emotional challenge that many people find overwhelming. All the best traders I know define their successes in terms of how well they stuck to their trading plans, not as a reflection of how much money the have made or lost.

 

[neil]

How long is a piece of string ?

 

[kd1976]

It depends on life experiences and the person. How much ego is in your way and how long are you willing to hide truths about yourself. Once you can be completely honest with yourself then you are ready to develop. Unfortunately for most of us, it takes a lot of pain to get to this point. It is a whole process. It will definitely take years. But the answer to this question is only something you will have to go through to find out. My advice is to seek out someone who is truly a good person and went through all of the misery that a person will go through to become a successful trader and then do everything you can to learn from them. You will have to go through your own experiences of course but you my be able to survive long enough to see something good happen. I wish I had a better answer for those of you who are just starting out or have been in it and can kind of understand this but it is the truth. Good luck to all of those who wish to undertake this thing of ours.

 

[Giovan]

Take's about an year to break even, then it becomes really boring and the profits tickle in slowly, then the real money starts to come in.

 

[resistance]

To become a successful trader it take a lot of time We know this market in trading of at least 6 months . Then our practice and experience slowly make us successful . I am in this field from last 2 years , I feel many things are not clear to me in trading it will take more time .

 

[malaguti]

To become a successful trader it take a lot of time We know this market in trading of at least 6 months . Then our practice and experience slowly make us successful . I am in this field from last 2 years , I feel many things are not clear to me in trading it will take more time .

It will take 6 months you say..but even after 2 years there are many things that aren't clear?
so would you say that you cant learn it in 6 months..

 

[wackypete2]

It will take 6 months you say..but even after 2 years there are many things that aren't clear?
so would you say that you cant learn it in 6 months..

It's not just his trading that isn't clear

Peter

 

[malaguti]

It's not just his trading that isn't clear

Peter

indeed, every post from this guy is a source of amusement..cruel bas**** you are Pete!

 

[FringFX]

It will take 6 months you say..but even after 2 years there are many things that aren't clear?
so would you say that you cant learn it in 6 months..

That must be the concise version of his verbose version.