How long does it takes to become a successful trader?

<p>Imagine having a mentor who was 100% aware of what he was doing and spending two hours a week with him. You could make substantial progress and cut many beginners BS pass through. It is extremely difficult to tell how long it takes to achieve success.&nbsp;</p>

<p id="isPasted">It is obvious that the more time you devote to trading, the sooner you're likely to see profit coming in.&nbsp;</p><p>The time that you spend honing your trading skills and refining your&nbsp;trading strategy&nbsp;helps to build your direct knowledge of trading and your life experience of trading in the markets. While a solid education in trading is essential before you start, nothing can replace the value of actual trading experience with real money.</p><p>As a new trader, you should be looking to spend a solid amount of time each day on perfecting your craft. The more time that you spend, the sooner you will become a profitable trader.</p>

<p id="isPasted">I have been there for two and a half years now. There were many mistakes I made, but each one taught me a valuable lesson. Due to human error, I sometimes made the same mistakes over and over again.</p><p>Over the course of this learning trip, I lost over ten thousand dollars, but not in a single deposit.</p><p>Currently, I am able to earn 1 to 3% of the capital each day IF the market is in good shape, otherwise, I avoid it. When things go wrong, I tolerate the same amount of loss a day rather than more because of a simple strategy that almost 70% of the time works.&nbsp;</p><p>There are some golden rules in Forex: controlling your emotions, managing your risks, and not forcing trades when you are not absolutely certain that it is a good time to trade. Take advantage of trailing stops to ease waiting and to allow you to relax more. You should not use STOP LOSS; however, you should have a stop loss in your mind that you will not change no matter what happens. Market makers track stop losses and use them to close trades with fake volatile movements. Take care of that.</p><p>The conclusion of my answer would be that controlling myself is more difficult than controlling trading. You can make miracles if you work on your emotional stability and self-control.</p>

<p id="isPasted">The time it takes to become a successful trader can vary widely and depends on many factors, such as the trader's natural aptitude for trading, the amount of time and effort they are willing to put into learning and practicing, and the complexity of the trading strategies they use.</p><p>Some traders may become consistently profitable within a few months, while others may take several years to achieve consistent profitability. Becoming a successful trader requires continuous learning, discipline, patience, and risk management skills.</p><p>Therefore, it is difficult to provide a specific timeline for becoming a successful trader, but with consistent effort, practice, and dedication, anyone can improve their trading skills and become a successful trader over time.</p>

<p id="isPasted">The length of time it takes to become a profitable Forex trader varies from person to person. Back in the early days, it was difficult learning the craft because there were not very many people willing to share their knowledge. You pretty much had to learn by trial and error.</p><p>Nowadays there is no shortage of Forex training programs that can get you up and running in a relatively short time. The bottom line with learning to trade is how serious are you about learning and whether can you treat it as a profession and not as a hobby. Not taking it seriously is where most people make their mistakes and lose their money.</p><p>Once you have a proven strategy that gives you an edge I believe you can become a profitable trader after executing 300 - 500 perfect trades. I use the term perfect trades and not profitable trades because you can do exactly what you are supposed to as a trader and the trade still loses. Trading is based on probabilities. It is not an exact science. There is always a certain percentage of chance the trade will lose. Your goal is to put the odds in your favor and use the law or large numbers. If you have a strategy with a 55% winning percentage and you manage your risk properly, you will come out ahead. A perfect trade is a trade that you executed exactly as your rules called for. The outcome of the trade is not important at this point.</p><p>Remember there is no rush. You are developing a skill that once perfected, offers the ultimate in freedom.</p>