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!
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.
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.
Ask, and you will receive; seek, and you will find; knock, and it will be opened to you.
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.
If I use myself as an example, I am still learning and exploring. You will not be able to make consistent profits, but with time you will be able to learn about your trading strategies and improve your profit trading records.
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.
It depends, there is nothing like fixed answer! By the way, the main attraction of Forex is it is the largest financial market in the world where more than $4 trillion dollars is traded a day. Several broker serve traders with numerous facilities besides working as an intermediary. That’s why broker has a major role in Forex market.
sebking1986 posted: 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.
Agreed! For some, it takes a few days to months, while for others, it also take years of practice.
Yes exactly! 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.
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.
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.
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.
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Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
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