How long does it take one to be consistently profitable with forex trading
Member Since May 13, 2022
33 posts
May 30, 2022 at 06:37
It can take up to a year to get familiar with the market conditions. Traders must be prepared to change their train of thought when needed. While majority expert traders talk about how learning is a constant process in trading, there are those who wish to get done with it. This is the wrong attitude. They will lose only because of the mindset.
Jun 03, 2022 at 05:52
The time taken to learn would depend upon the person’s learning ability and calibre to a great extent. If you are a fast learner with good grasping power then you will naturally be able to learn in a short span of time. Forex trading is not just about theoretical knowledge and there is more practical learning involved. In order to become a successful trader one will need experience in the forex market that comes with hands-on practice. Use a demo account first and once you get comfortable with trading switch to a real trading account with a small amount of money. I am saying to keep the amount small because the forex market is very volatile and the risk of loss is much higher for a newbie trader. Start with a good strategy and don’t forget to set up a risk management system to minimise the potential losses. Forex trading also involves some psychological aspects apart from the fundamental and technical concepts. A trader should be patient and rational at all times with an ability to control their emotions. When all of these traits come together with knowledge and skills, you will be done with the learning process which is a long one.
Jun 09, 2022 at 09:48
There is nothing specific about it. If it were, people would have known this, and they would have started trading after that period. But it is not so.
It depends on various factors like your learning speed and capability, your goals, and whether you look at forex trading as something worthwhile or you take it as a get-rich-quick scheme.
If you take the right approach towards learning forex, you’ll learn quickly, and if not, you will take time to learn.
It depends on various factors like your learning speed and capability, your goals, and whether you look at forex trading as something worthwhile or you take it as a get-rich-quick scheme.
If you take the right approach towards learning forex, you’ll learn quickly, and if not, you will take time to learn.
Member Since May 29, 2022
34 posts
Jun 10, 2022 at 00:32
It took almost 3 months when I saw my first profit.
Member Since Jan 13, 2021
50 posts
Jun 13, 2022 at 16:07
MokgadiMafa posted:
I know it look me 8 months to just learn and practice...and I'm still practicing 😅
Took me a lot longer but it’s not a race
Jun 14, 2022 at 06:56
The length of time it takes to become a profitable forex trader varies from person to person. To become consistently profitable took a long time for me, maybe 5 years or so. You have to be extremely systematic with a lot of discipline which took the longest for me. The market is always changing, therefore it's only normal to change your plan and learn how to spot a good trend. You won't be able to totally avoid risk, so stay vigilant and diligent. I recommend finding a strategy. There are plenty of free ones out there, open a demo account, and begin practising. Once you nail down the basics, open a live account and start trading really small lot sizes. Trade the smallest lot sizes until you have made at least 100 perfect trades. You can then start raising your lot size to start making a little more money. Remember there is no rush. You are developing a skill that once perfected, offers the ultimate in freedom.
Jun 14, 2022 at 11:44
Varies from person to person! So many become profitable in just one year while others struggle to make some good returns even after trading for 10 years. It is all about your strategies, trading markets, and the currency pairs. That’s why I believe that you must be very choosy when making choices.F irst, it depends on how experienced you are in forex trading. Also, if your emotions have a control over you more than your logical thinking, then you can’t get profits. If you apply effective measures and strategies for trading and also take care of your risk factors and profit motives, then you can earn good profits.
Jun 16, 2022 at 14:46
Depends on individual. It is so individual based. But of utmost importance is mastering your strategy in and out; whether you doing supply and demand, trend trading, or whatever strategy ,,,master it. Then spend hours and hours of screen observing charts and price movement. Start small. Keep it simple. Keep few indicators if any...1 or 2. Above all align your mind with price action...don't try to force or manipulate the market. Just execute your strategy or your edge.
My Thoughts My Reality.
Jun 17, 2022 at 05:27
Take all the time you need to learn and practice. The best traders are experienced. Only through trial and error can you understand what works for you and what doesn’t. Mistakes are a part of life, as long as you learn from them and make amends, how will you know what kind of a trader you are? It is possible but only through time. So, construct patience and stay composed.
Jul 01, 2022 at 12:06
To become consistent, one must master 3 things ; Risk management , good trading Strategy and proper trading psychology . You can be in the market for 10 years, if you are not discipline and not respecting your trading plan , you will be inconsistent so being consistent shouldnt be measured by years but rather how well you work on yourself day by day.
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Member Since Jan 11, 2022
45 posts
Aug 09, 2022 at 07:03
The length of time it takes to become a profitable forex trader varies from person to person. To become consistently profitable it took a long time for me, maybe 5 years or so. You have to be extremely systematic with a lot of discipline.
Aug 11, 2022 at 10:35
You can never be sure about how much time you would need to make satisfactory trades. But don’t expect to make profits from the very beginning because it may cost too much later. Just focus on your learning and skills that will surely get you some good results.
Member Since Aug 13, 2022
2 posts
Aug 13, 2022 at 18:51
I agree with you remember there are more to just trading
And I know the best and right corner for you to start from
And I know the best and right corner for you to start from
Let's make some money
Member Since Jun 19, 2021
48 posts
Aug 14, 2022 at 02:00
I learned how to be consistent I do not know how long.. 3 years of consistent hard work every single day is what it took me. I trade sentiment only as a tool to succeed. avg 2.5 to 4 % return per day. Yes, I am a millionaire now.
*I kill pips for fun.*
Aug 17, 2022 at 10:15
It could take months or years. There is no fixed answer because each trader’s level of consistency is dependent on their hard work. Hence, as long as you are putting in the hard word, you can see the results and become consistently profitable.
