It takes the whole life, I guess. I mean that the market is always on the move and the traders need to catch up with it. That is why, a trader should never stop learning the market if he/she wants to be a success.
You should never stop learning if you want to gain consistent and decent profits. Market is constantly changing, so in order to keep up with it, you've got to learn every day, otherwise your vision or methods may become outdated and this will never bring you any rewards. Therefore I feel that one cannot fully understand the movements of the market, there is always room for improvements.
Levesen posted: You should never stop learning if you want to gain consistent and decent profits. Market is constantly changing, so in order to keep up with it, you've got to learn every day, otherwise your vision or methods may become outdated and this will never bring you any rewards. Therefore I feel that one cannot fully understand the movements of the market, there is always room for improvements.
Exactly, I believe that even if a trader encounters loss in forex trading then instead of giving up he should learn from his mistakes in order to not repeat it further.
I'm not sure you ever stop learning. Bit of a cop out answer but as you are probably alluding to to be competent trader again it is hard to say. It depends how you take to it, if you are learning the right way for your personality, how much time you have to learn and practice etc
It will typically take on average around 1 year for someone to learn to trade forex. The technical side can be learned within a few weeks, but the risk management and psychology will take around a year to come to grasp. The majority of traders give up before ever learning to consistently trade the markets.
If you're wondering how much time is required for education before you're ready to open a live account, I'd say that the answer is subjective. Some may learn very quickly and understand all the info, while others may struggle with some of it and have to spend more time on certain subjects. Whenever I got stuck on something, I went to Babypips or YouTube and that seemed to help. It also depends on how much time you devote to learning at a time, as obviously someone that's spending time each day learning would be prepared before someone that only does so once or twice a week. From that point, there are always new things to learn. I spend my free time looking at strategies, reading articles, talking to other traders on forums like this one. There's always something new to learn and other traders can share valuable information.
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