How much time does it takes to become a profitable trader?

<p>Most people will tell you it takes about 5 years to be consistently profitable and if you translate that to hours, perhaps you are close to 10k hours. Regardless, it takes a lot of time. Keep in mind, some never make it. As for luck, you always want to be lucky, but frankly a lot of luck is due to putting the odds more in your favor. What may look like luck to the outsider, is really more about your experience putting you in the position to be lucky.</p>

<p id="isPasted">​It took a few years for me to become profitable.</p><p>First 2–3 years, you seem to have cracked it with small amounts and market seems to confound you each time with a new twist.</p><p>Next 2–3 years, you start breaking even and keep the market at bay by recouping losses with wins.</p><p>Then you start making money with more profitable trades than loss makers.</p><p>The reasons goes from losses to profits are …</p><p>- Filter out correct setups where the probability of price going your preferred way is very high, get in only then (patience in entering only good setups; avoiding the temptation of frequent trading via false alerts and the importance of not making losses as opposed to making profits).</p><p>- Perform multi timeframe analysis to filter out false signals of breakout, thus reducing further chances of making losses</p><p>- While entering trades, place stops at levels that allow a little downside, but prevent catastrophic losses</p>