Successful forex trading is not time sensitive and no one can specify a time frame to become a successful trader. Rather, you can say that successful trading is dependent on experience of traders. The more experienced a trader, the better he will be able to handle any trade. A proper understanding and expertise about forex trading will help the traders to surivive here and to become successful in a consistent way.
How many years are necessary to consider yourself a successful trader?
- Thread starter Evermore2017
- Start date
See trading is a feild where you cannot gain knowledge by book reading but from the experience by making risky choices , So one cannot say you a predefined period to get sucessful in trading , but yes there are many practical cources which provide the platform for trading , you can say raw material for your 1 step .
So start today and you can be expert within a month or two . Just keep watching and preying
So start today and you can be expert within a month or two . Just keep watching and preying
IF you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about, don't deal in lies,
Or being hated, don't give way to hating,
And yet don't look too good, nor talk too wise:
If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build 'em up with worn-out tools:
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: 'Hold on!'
If you can talk with crowds and keep your virtue,
' Or walk with Kings - nor lose the common touch,
if neither foes nor loving friends can hurt you,
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man, my son!
Or a Successful Trader, my son !
CM
There is a long list of people (e.g. Jesse Livermore, John Merriwether) who were profitable for many years, some even became legend, then somehow blew up.
You nail it!!!!!
I am trading for 15 years and finely it click like never click before
Greed will get you every time
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Im very glad for you.God speed!
YESSSSS!!!!
Last night, while chatting with a trader acquaintance of mine who is starting a option trader group, he approached me as "successful trader" to raise funds. First time, I was referred to as a successful trader. I just dont see myself that way. It was just a series of risk-calculated moves, correct position sizing and lot of luck in bull market.
I was lucky enough to get into trading during the February 2016 dip, where the market was debating heading into bear or a new bull run. Also, had the advantage of not having to use my trading profits to make my living, but resorted to my real-estate income. At the time, most of my positions were bullish. Benefited for 3 months, then vol spiked with Brexit; learned hedging. Lost money in the early stages of the Trump rally; learned proper way to leverage longs while still hedging risks. 2 years and after 40,000 trades, with near triple digit annual growth, I feel this will take atleast 10 years of similar returns to call myself a success.
However, it depends on what your goal is.
- Weekly Income (It used to be 1% per week of capital, but I don't look at this anymore)
- Reduce Drawdowns (The 19% drawdown that I sufferred in June'17 still gives me nightmares)
- Recovery period during drawdown
- Capital Preservation
- Better strategy diversification
- Get the Sortino and Calmar ratios up to the point that money managers are going, I-wanna-be-that-guy
Personally, I just strive to get all my ratios on my TWS PortfolioAnalyst report higher!
And most importantly
- Portfolio value going up when the markets are down. And going even higher when market had a major correction! <-- THIS IS TRUE MARK OF A GREAT TRADER
But as seen in @learner2007 list, once someone can claim a handful of those items, then they have achieved some level of true success in trading.