How long does it take to become successful in forex? - page 2
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10,000 hours. There is a book that talks about becoming an expert in anything you put your heart and mind to if you spend 10,000 hours doing that.
I hope that was a joke ...
10,000 hours. There is a book that talks about becoming an expert in anything you put your heart and mind to if you spend 10,000 hours doing that.
There is no answer for this question. You could trade 10 years all day everyday and still not become a successful trader. Some people just can't do it. Just like some people can study for tests and not to good at them no matter how long they spend getting ready for it. There is no approximation no time table for something like this.
For the overall majority: Never (lack of money, time and discipline).
For the the others: Their whole life (it is a constant battle to addapt to the markets).
Not a Joke
I've heard the same statement. It's an estimation of how long it takes to become a master at any given activity. If fact, Malcolm Gladwell discusses the topic in his new book, Outliers. It's a good read.
I hope that was a joke ...
hi
depend on how often you learn and practice it in demo or live acc ,the biggest influence is your experienced to handle your emotion and money management
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My answer would be, how long does it take, how long have you got? The amount of time you are prepeared to spend without giving up will determine your success.
hey are you the guy on ET that always ask about brokers? :lol:
I would vote for C
A long time. I'm not giving up, I will become profitable, not sure when or how but I will.:) Losses really piss me off, I need to learn to control that. And I have never had a profitable 2 days in row 6 months trading full time. I'll get it though.
However smart the person is, I think it will take a year minimum to be a good trader.
But to be an expert trader it will take years...
You have to learn so many things, So many points sharply...
Understanding the markets movements as well as trading strategies.
I insist to practice with a demo account for minimum 3 months.
So including all it will take a year minimum.
I'm a new poster, long time on and off researcher. Given when you say successful you mean consistently profitable, I have a question. Are there systems that are profitable, maybe not by some large percentage but profitable, by being purely mechanical with it and trading the signals? I ask this because if there is then the length of time would only depend on your learning curve of the system itself. Major news would screw up the system but if it was consistently profitable, that shouldn't be big issue.