How long does it take one to be consistently profitable with forex trading
Mitglied seit Oct 21, 2021
1 Posts
Apr 21, 2022 at 08:33
I know it look me 8 months to just learn and practice...and I'm still practicing 😅
Apr 21, 2022 at 08:46
There is no fixed answer on your question! But no doubt, it takes such a long time to learn Forex! For me, I used my demo for 16 months, then I opened my 1st live trading account; and till now I’m learning from my own trading mistakes!
Mitglied seit Aug 05, 2021
401 Posts
Apr 24, 2022 at 15:02
I think the answer is subjective. I was on demo for 6 months and started slowly on a live account, but I've been at it for 2+ years now.
Apr 27, 2022 at 12:40
There is no exact time limit. It may take 6 months, or in some cases, 2 years. It is all about your knowledge and skills. Practise a lot on a demo account and see if you are making sufficient profit there. If you are doing well on a demo account, then move to a live account.
Mitglied seit Apr 05, 2021
29 Posts
Apr 27, 2022 at 20:02
I think if you're only in it for the money and not willing to study the field, it will be hard.
Sometimes I get the feeling that forex trading is believed to be the stairway to wealth.
Forex trading can seem easy to learn but can prove very difficult if one does not understand how markets work.
It is a trade and needs to be treated like that.
Sometimes I get the feeling that forex trading is believed to be the stairway to wealth.
Forex trading can seem easy to learn but can prove very difficult if one does not understand how markets work.
It is a trade and needs to be treated like that.
Ask, and you will receive; seek, and you will find; knock, and it will be opened to you.
Mitglied seit Oct 27, 2020
18 Posts
May 02, 2022 at 09:09
No one can answer this question for you. You must understand that external factors have only a 5% role in making trade a success. But 95% of your success depends on your efforts and consistency.
May 04, 2022 at 06:23
There is no fixed time frame as it depends on your skills and strategy to a great extent. If you are a good trader to begin with or a fast learner with the potential to become profitable right away, then you can start learning early. But all of this is subjective to the amount of money you put in and how you handle the risk per trade. Focus on learning and getting better at trading, Profits will come to you as a byproduct sooner or later.
Mitglied seit Oct 27, 2020
16 Posts
May 05, 2022 at 07:28
There’s no accurate answer to this question as it takes months & years of learning. It also depends on the learning skills of the trader how fast they are capable of learning. Practising in a demo account for about 6-7 months is enough if you have a sharp mind and then you can move to a live account.
Mitglied seit Apr 09, 2019
538 Posts
May 09, 2022 at 10:04
It's impossible to give an arbitrary time frame for this. It depends on the trader and their capacity to learn, practice, time availability etc.
If you can't spot the liquidity then you are the liquidity.
May 10, 2022 at 11:10
sebking1986 posted:Agreed!
It's impossible to give an arbitrary time frame for this. It depends on the trader and their capacity to learn, practice, time availability etc.
For some, it takes a few days to months, while for others, it also take years of practice.
Mitglied seit May 10, 2022
9 Posts
May 10, 2022 at 12:00
ElliotEll posted:Yes exactly!sebking1986 posted:Agreed!
It's impossible to give an arbitrary time frame for this. It depends on the trader and their capacity to learn, practice, time availability etc.
For some, it takes a few days to months, while for others, it also take years of practice.
If I talk about myself, it's been a year, doing good as well but I am still learning. But one of my friends is making good money and it's only been 7-8 months since he started trading. So, yes, it varies from person to person.
May 13, 2022 at 03:57
It can take years for one trader to start making regular profits while another trader may achieve this in weeks or months. It all depends on one’s potential and learning power. So it is difficult to say a definite time period after which you will be profitable in forex trading. The more you learn and practice, the more you grow. Never go for shortcuts for overnight success. Just focus on getting better at trading and there is no need to compete with others. Learn and grow at your own pace. Patience and consistency is the key to success for a forex trader.
Mitglied seit Jun 19, 2021
49 Posts
May 15, 2022 at 06:07
I did not take it really seriously for many years and then took more years once I will serious about it. The total was 13 years to become profitable. Very profitable. $600k in profits now.
*I kill pips for fun.*
Mitglied seit May 05, 2022
20 Posts
May 16, 2022 at 04:19
It has been a year since I started trading and only now I make profit from my investments. Started when Covid was more serious, now with some assistance from my friends that have been trading for years, I started to make profit.
Always learn from your mistakes and watch the market.
Always learn from your mistakes and watch the market.
May 20, 2022 at 04:16
I wish there was a fixed time period for that but forex does not work like that. When you make an investment or just put your savings in a fixed deposit account, we can say that after a month or year you will be getting this much return/ interest without any major variation. But forex is a market for traders and our earnings are solely based on our trading skills. Within how much time you can equip yourself with the skill set of a trader will decide when you will start being a profitable trader in forex.
May 23, 2022 at 05:09
Well there’s no definite answer as every trader has different experiences. Some take months and some take years to learn trading properly so it varies among various traders. It solely depends on the trader’s capabilities how fast they learn.
Mitglied seit Oct 29, 2021
70 Posts
May 23, 2022 at 05:49
True, it can take a while to get used to the market and learn before you can earn consistently. It takes hours of effort and work.
