I do not think that the beginner can hope that in 2-3 months he will earn good money. This is absurd. I know there are fools who think they will make their first $1000 in a month.... lol... 😁 It actually takes at least half a year to start making money. I mean good money. But that doesn't mean you have to quit your job. You have to become a real professional successful trader first.
Statistics give a wide variation on this issue. In addition, few people manage to make money quickly and without problems. Work in a way that makes you feel comfortable, analyse what's going on and you'll be fine. The result will be. It will.
It's hard to say exactly how long it takes, but here's what I mean: 'more than you think'😁 Many beginning traders think that they will trade on demo account for 2-3 weeks and then will start regular profits. I think that's predictable. We've all been that kind of people. Let's look at forex as a regular business. For every business it takes time for profit to start. Note that for some businesses it takes years. As for Forex, it takes a few months to make a regular income. Of course, much depends on your deposit and your trading strategy. That's what else I want to say. Many people think they can quit their main job after a month of trading. NO! It's better not to do that. You need at least half a year or a year to start making money all the time. And I'll say it again. A lot depends on the deposit and the trading strategy.
Getting profit out of forex trading entirely depends upon the trading style and understanding of the person because for some it may take years and for some even 2 months are enough, so there's no time bar as such but only lots of learning.
It depends on the person to person, and how much time are you willing to give to learn Forex trading. It took me 7 months to learn and practice and I'm still practicing. Because a demo is the only way where you can constantly improve your trading skill without having to spend a dime!
It is difficult to determine how long it will take an individual to be consistently profitable with forex trading, as it can vary greatly depending on a number of factors. These factors can include the trader's level of experience, their level of dedication and commitment to learning and improving, and the time and effort they are willing to put into developing a solid trading strategy.
Zootaxy posted: I would say 6 months on a demo account and 6 months on a live account would count as a learning period for most of us. It may be more or less based on the learning ability of the person. It took me more than a year to become consistently profitable and I would like to think that I still have a lot left to learn and a long way to go.
Personally I feel that everyone should practise in a demo account until they learn trading skills irrespective of the time it takes. Rushing the process will not be beneficial to you. Proper practice will assist you in honing your skills and getting ready for later trading with real money.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.