How many years does it take for one to learn the forex trading?
- Thread starter Garett Sim
- Start date
True that. A healthy mental balance is required to trade profitably.
i have never come across anybody who trades for a living, and i have been in this business for 30 years, who has said,'i started trading and in a few days i was making a living. most have said it takes a long time....i have heard ten years the most often.
It is possible that you could buy a profitable expert advisor or automated system but because most systems are frauds you would end up losing huge amounts of money trying out even 10 of those systems.
if you take a mentor,if he is profitable, then it would take you 3-7 years to get confidence in his system.but a profitable trader probably will have time or energy to mentor anyone,since he needs time to enjoy his life and money and even here 90% are frauds and by the time you find out who is who they would have bled you almost to death.
The only advantage in forex is that you can trade with 5-10 usd so if you do that you will lose very little at a time.if you a trade stocks you will end up blowing 5000 usd at a time in a few days
It is possible that you could buy a profitable expert advisor or automated system but because most systems are frauds you would end up losing huge amounts of money trying out even 10 of those systems.
if you take a mentor,if he is profitable, then it would take you 3-7 years to get confidence in his system.but a profitable trader probably will have time or energy to mentor anyone,since he needs time to enjoy his life and money and even here 90% are frauds and by the time you find out who is who they would have bled you almost to death.
The only advantage in forex is that you can trade with 5-10 usd so if you do that you will lose very little at a time.if you a trade stocks you will end up blowing 5000 usd at a time in a few days
The forex market is not like the stock market
The difference is that mid term movements are more driven by governments' whims and fancies,not all which is open or clear even to the governments themselves. you could read this book if you want to know how complex the forex market is
The difference is that mid term movements are more driven by governments' whims and fancies,not all which is open or clear even to the governments themselves. you could read this book if you want to know how complex the forex market is
In order to be profitable in forex you have to first learn the ropes. And that takes time, more so if you are a slow learner. I would say that there is no need to hurry. Don't compare yourself with others' progress and success. Be patient, consistent, dedicated; work hard and in time you'll see you have mastered the art of forex trading. But nobody can give a definite figure to your question. 1 year, 3 years, 10 years...? Who knows? At the end of the day it will depend on your abilities and aptitude
All of them...
Well I agree with that 100%! A committed approach to forex can make you grasp the essentialities of forex quicker and better than others. However there's something new to learn everyday even after you have become an expert trader. Forex (and life!) never fail to surprise you. They'll be times when you'll wonder to yourself "whoa!! I didn't know that".
It has taken me a decade to learn how to lose money in Forex
