How long does it take one to be consistently profitable with forex trading

Apr 21, 2022 at 08:33
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49 Replies
─îlenom od May 13, 2022   34 pr├şspevkov
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.
─îlenom od May 24, 2022   23 pr├şspevkov
May 31, 2022 at 09:55
I’d say that depends on various factors. It depends on the skill, learning speed that one has, mental aptitude, emotional attitude, mathematical aptitude, risk management skills, time management skills, etc.
─îlenom od Jan 10, 2022   40 pr├şspevkov
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.
─îlenom od Jun 02, 2022   23 pr├şspevkov
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.
─îlenom od May 29, 2022   39 pr├şspevkov
Jun 10, 2022 at 00:32
It took almost 3 months when I saw my first profit.
─îlenom od Jan 18, 2022   48 pr├şspevkov
Jun 13, 2022 at 08:43
Honestly, It took me more than 4 months but it was worth it in the end. And I am still learning.
─îlenom od Jan 13, 2021   52 pr├şspevkov
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 ­čśů

Took me a lot longer but it’s not a race
─îlenom od May 30, 2022   27 pr├şspevkov
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.
─îlenom od May 24, 2022   17 pr├şspevkov
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.
─îlenom od Jun 02, 2022   32 pr├şspevkov
Jun 16, 2022 at 10:04
If you are just starting out, it might take you anywhere from six months to an entire year before you start seeing a profit. But, there is no specific time period that can guarantee to give you results.
─îlenom od Jun 15, 2022   2 pr├şspevkov
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.
─îlenom od May 24, 2022   28 pr├şspevkov
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.
─îlenom od Jun 29, 2022   4 pr├şspevkov
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.
Learn strategies to help you invest confidently
─îlenom od Jul 13, 2022   32 pr├şspevkov
Jul 28, 2022 at 06:54
For me, it took me 5 months but yes consistency and regular practice is the key .
─îlenom od Jan 11, 2022   45 pr├şspevkov
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.
─îlenom od Aug 02, 2022   22 pr├şspevkov
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.
─îlenom od Aug 13, 2022   3 pr├şspevkov
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
Let's make some money
─îlenom od Jun 19, 2021   49 pr├şspevkov
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.*
─îlenom od Aug 03, 2022   25 pr├şspevkov
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.
─îlenom od Jul 08, 2020   14 pr├şspevkov
Aug 17, 2022 at 18:59
There are a lot of details here.
your activity.
The amount of capital.
The strategy chosen.
Broker.
Demo.
And so on and so forth.
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