No one knows. It differ from person to person. And even most people never get into it. It Will depend on various factors. If you come to forex by knowing that it's the easiest thing to do, first you have to unlearn yourself. Then we have to relearn everything. How quick learner you are that's a matter. How well you can apply your knowledge that's also important matter. So it's better to learn without any negative thinking.
How long it takes to learn
- Thread starter Walter O'
- Start date
it took me 13 years
but because i read a lot books which all sent me on the wrong road.
but the only thing you learn from this is to recognise a road.
and then once you know that you can search for the right one.
markets are rational
buyers and sellers do not act stupidly they act mostly for a reason and mostly the same one so markets then move.
if not, a single entity cannot move markets
but because i read a lot books which all sent me on the wrong road.
but the only thing you learn from this is to recognise a road.
and then once you know that you can search for the right one.
markets are rational
buyers and sellers do not act stupidly they act mostly for a reason and mostly the same one so markets then move.
if not, a single entity cannot move markets
%%
About 66.666% right.
Impossible to learn 100% without negative thinking.
Most short term traders never make a profit;
most investors do. I made a gross profit on MSFT once but with higher commissions= not really a profit /break even is not a profit, unless you get free rent/free power/free computer/free gas free car /LOL...…………………………………………………………………………………..
From my PPOV, learning with the rational mind is very easy. Everything one needs to know how to trade can be tought and learned in a week (using technical analysis), much more time if you choose to use fundamental variables.
If I was only rational mind I know that I would be profitable from the start ( about 5 years ago).
But I am not only the rational mind but a complex of emotions, fears and strong emotional memories.
And emotions dictate choices more than we want to believe many times.
The emotional being inside me is learning through pain. And it is a slow pace because I tend to avoid the pain and so reduce the frequency of exposure to valuable lessons.
I am still here and still trading so I think there might be something to it.
I no longer give myself the absolute I-will-be-a-great-trader self-hypnosis because everything I do well always spontaneously appeared.
If more than 90% fails to be profitable and think they will dominate and very sucessful, what do the less than 10% think? they just do?
If I was only rational mind I know that I would be profitable from the start ( about 5 years ago).
But I am not only the rational mind but a complex of emotions, fears and strong emotional memories.
And emotions dictate choices more than we want to believe many times.
The emotional being inside me is learning through pain. And it is a slow pace because I tend to avoid the pain and so reduce the frequency of exposure to valuable lessons.
I am still here and still trading so I think there might be something to it.
I no longer give myself the absolute I-will-be-a-great-trader self-hypnosis because everything I do well always spontaneously appeared.
If more than 90% fails to be profitable and think they will dominate and very sucessful, what do the less than 10% think? they just do?
The time frame it takes to learn is different from everyone. On average I would say 2-3 years
before an average trader becomes profitable if he is still in the game, it could just be marginally profitable but still profitable. Most quit after 1 losing year which is actually not surprising. You are competing with professionals plus some amateurs and its like any other thing in life, the pros will dominate and take the market share. You don't see people just randomly picking up a basketball or soccerball on the first day and then dominate the NBA or EPL league. It takes years of very serious training to be in that league and even then only a handpicked cream of the crop plays in it. In the trading world, it is the only "league" where the pros also allow complete amateurs to play in, and more often than not the results are disastrous, but also because since there are always new batches of amateurs, It can still be profitable for people who puts in the work.
The learning process is like this, as a rookie you are probably
going to make all the mistakes in the world. So lets say there are 10 major mistakes and you are going to make all
of it. The longer you stick with it you will have certain "Aha!" moments. But then again 1 aha moment is not going to pay for other 9 major mistakes. Every time you have an aha moment, you will reduce you mistake but 1 and till you are breakeven with 5 aha moments, but still 5 major mistakes. Till the point you get to 10 aha moments, you are practically going to be close to printing money, that is the holy grail everyone is seeking. For one of these epiphanies to occur it may take days,weeks,months or even years depending on the person's talent and hardwork.
before an average trader becomes profitable if he is still in the game, it could just be marginally profitable but still profitable. Most quit after 1 losing year which is actually not surprising. You are competing with professionals plus some amateurs and its like any other thing in life, the pros will dominate and take the market share. You don't see people just randomly picking up a basketball or soccerball on the first day and then dominate the NBA or EPL league. It takes years of very serious training to be in that league and even then only a handpicked cream of the crop plays in it. In the trading world, it is the only "league" where the pros also allow complete amateurs to play in, and more often than not the results are disastrous, but also because since there are always new batches of amateurs, It can still be profitable for people who puts in the work.
The learning process is like this, as a rookie you are probably
going to make all the mistakes in the world. So lets say there are 10 major mistakes and you are going to make all
of it. The longer you stick with it you will have certain "Aha!" moments. But then again 1 aha moment is not going to pay for other 9 major mistakes. Every time you have an aha moment, you will reduce you mistake but 1 and till you are breakeven with 5 aha moments, but still 5 major mistakes. Till the point you get to 10 aha moments, you are practically going to be close to printing money, that is the holy grail everyone is seeking. For one of these epiphanies to occur it may take days,weeks,months or even years depending on the person's talent and hardwork.
The endgame is very worth it. If 90% of people are losing money. It means that the 10% are making the 90% people's money. Which is actually a 90/10 rule that applies to almost everything in life.
If you are very good in trading, the world is your oyster.
you raised some important points about unlearning.
I went for quite a few trading courses.
I even learned from multi million dollar hedge fund manager.
BUT I have to spend so many years to unlearn , delete those wrong teachings and decontaminate my mind because those trading coaches were professional talkers
( they earned $$$ by talking) but useless hopeless unsuccessful traders.
It will take years or decades to master the trading skill.
It might even be infinity.
It will cost thousands & thousands of dollars, perhaps broken relationship, & in extreme case life.
I wouldn't recommend trading unless your passion and determination is extremely high.
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A very profound statement. Yet you and I kept trading, for what, even though we both knew?
Everyone of us like to believe we are the exception to the rule.