I think time is valuable and you must be spending it wisely as a trader. It surely takes time and practice for an average person to become a skilled trader. You should invest your time for learning before you invest money for earning as a trader.
It all starts with regular trading platform practice and having daily access to the most up-to-date information on all trading instruments. Timely practising gives you an advantage in forex because you are in constant contact with the market. So you learn and improve your trading strategies over time.
Practice is essential to get more familiar with trading because learning anything new takes time but do not spend too much time in the learning phase so that till the time you start trading the market introduces new changes and you need to go back to get acquainted with that now.
Yeah I totally agree. If you practise for hours and learn nothing, it’s a waste. Dedicate less time but make sure that you learn well. Forex doesn’t require 15–16 hours of learning and practising. 2-3 hours a day is enough if you are focused well.
There is no fixed number of hours that you have to give in to become a successful trader. It’s like a cricket game. The more you practise, the better you get at it. Hence, if you can keep up with your hard work and put in the work, forex trading will work out really good for you in time.
In this market, there is no shortcut to making money. You have to be able to put in time and money to make the most out of every opportunity that you select. Patience is often sidelined and newbies focus on earning instead of learning. If you remain consistent with learning, it will lead to better profits in the future.
It’s only a matter of time! You can make profit from hard work and wise moves. Hence, take all the time you need to understand the market sentiment and learn how to enter and exit trades when it’s the most beneficial. Practice makes perfect, so keep trying and continue self motivation.
Knowledge and skills are very much needed for becoming a forex trader. And one has to invest time for gaining knowledge and practice well for developing trading skills. The learning period will be different for everyone based on their grasping power. So, one must learn and grow at their own pace.
Quality over quantity! This saying applies when learning forex. If you decide to learn for 5 hours, without focusing on goals, you will never be able to become a good trader. Giving time to practise is no doubt important. But what is more important than how you use it. Have a plan ready and take one step at a time. Do not overburden yourself with long hours of study. Take information that you can digest.
Take advice from experienced traders about how to develop a trading-genial psychology in a trader. If you own a positive mentality, then any sudden lose won’t depress you, contrarily, negative mentality will team you apart.
Even though OP said that the time spent on learning is not that important, I would like to say that spending enough time to learn can make a huge difference. How much you learned during this time will decide your success later on. But taking your time to learn and truly understand what forex is can surely lead to long term success in forex.
Vermilion1 posted: Knowledge and skills are very much needed for becoming a forex trader. And one has to invest time for gaining knowledge and practice well for developing trading skills. The learning period will be different for everyone based on their grasping power. So, one must learn and grow at their own pace.
Your answer is really accurate. Everyone is different and learns differently, so the amount of time definitely depends on that. None will learn in a day and it's more of a long-term goal, but everyone learns at their own pace.
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