How long does it take to become successful in forex? - page 4
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it all completely depends on 3 things..
Your Strategy
The execution of the entry
The execution of the exit.
That means that the strategy is only 50% of being profitable! The rest is all execution!
You can have a strategy that profits 75% of the time but you can still screw up the execution of that strategy by missing the entry, chasing price, getting in too late, getting in too early, not having the correct size on. Then even still you can screw up the exit by not getting out early enough "holding on to losers" the 25% of the time you lose can wipe out the 75% of the profits you make. Or simply not holding on long enough rather then trying to take as much profit out of a move as possible. You can screw up the scaling out if that's part of your strategy.. and on and on...
I'm an equities trader at a proprietary trading firm and trade FX on my own time.. and can tell you one thing. Focus, discipline and research research research! will make you a successful. The most effective trading strategies are those that can be executed easily as that's the bulk of why traders lose!
Successful traders are always very silent.
I think this is the trouble. You are correct when you say that but sometimes I wonder why. There are fake guru's, EA's that don't work, and systems that simply arnt profitable being sold all over this market. I believe that the profitable trades have an obligation to help those that are starting in this market and those that are struggling to learn.
Unfortunately I went through a lot of buying BS products before I started learning from those that were actually trading their own money live. This is the same reason I run a live trading room. With all the crap out there someone has to give back something of value.
That is another reason forums are so great. You have a group of people that truly enjoy helping one another. And the information found in them isn't half bad either
-Sterling
. I believe that the profitable trades have an obligation to help those that are starting in this market and those that are struggling to learn.
Why do you believe that? Most traders have to spend many years mastering trading and mastering themselves to be consistently profitable. You can teach someone how to read music notes, and how to play the piano but to be a good piano player requires thousands of hours of practice.
In short, I can show you how to trade, and what to do when, just like how I can show you how to play the piano.. but for you to be a good trader still requires thousands of hours of practice even when I show you how to do it..
Most traders just simply don't have the time or the inclination to teach people how to trade because they're too busy being profitable. That's really it..
I'm afraid you are right.
Why do you believe that? Most traders have to spend many years mastering trading and mastering themselves to be consistently profitable. You can teach someone how to read music notes, and how to play the piano but to be a good piano player requires thousands of hours of practice.
In short, I can show you how to trade, and what to do when, just like how I can show you how to play the piano.. but for you to be a good trader still requires thousands of hours of practice even when I show you how to do it..
Most traders just simply don't have the time or the inclination to teach people how to trade because they're too busy being profitable. That's really it..Facto confirmento.
It took me about six months of learning and another six months of practicing with demo account before I started trading live.
As a whole, it took me about 1 to 1.5 years to become a full time trader today quitting my day job
All it takes to be a successful trader is to first build a fortune from forex trading, lose it all in trading, and then once again building a fortune from forex, and holding on to it.
I'm now on the part where I try to recover my lost fortune haha.
For me, I think 3-5 years is appropriate
how long does it take to become successful in forex?
i think it depends on ur effeciency and ability to learn and understand how it goes on,and also u should be aware with the forex news and learn about the fundamental and technical analysis to know how to read the charts and i think to be able to do this it take not less than a year but it worth it, as for ur question how lng does it take to become proffesional as i told u it depend on ur way of trading and way of thing and learning the related issues of Forex.
Maybe for ever but at least a few years