Poll : How many years needed to learn day trading ?

[Mtrader]

As others have mentioned, if you adopt a simple approach and filter through all the misinformation quickly you can probably learn a solid method in about 2 years.

Yes.
You can learn to ride a bicycle in a few days, or even in a few hours. But to become a champ you will need years.

It all depends of the expectations you have. Be like average Joe or be good can change the period needed by a thousand fold and some will even never achieve anything.

 

[fordewind]

I think it is more of a continuous learning thing.... at least for me it is...

Bull crap!There`s no such thing like continuous learning.You just keep going in circles.Mtrader is also full of crap - no he/she is teaching.

 

[Mtrader]

Bull crap!There`s no such thing like continuous learning.You just keep going in circles.Mtrader is also full of crap - no he/she is teaching.

If you would at least specifiy very detailed what my crap is, your posting would not be crap.
But as you apparently can only post the word "crap" your posting is the real crap.

I noticed in past already that according to you many people post crap here. Ever thought about it that if the majority posts crap, it probably means that you are full of crap.

 

[rajesheck]

Bull crap!There`s no such thing like continuous learning.You just keep going in circles.Mtrader is also full of crap - no he/she is teaching.

I understand that by saying "crap»" you mean to say that his point of view doesnt make sense to you. And why should it make sense to you. It is enough if it makes sense to him and a few others, not everyone.

He is not a pleaser for every dude here. Right ?

 

[Llxa]

I would say about 3-5 years. By 3 years, you should get a pretty good idea of how market moves and how they react to major news and etc., what are some of the useful technical analysis tools you can use, where to go to find what you are looking for, what are some of the good brokers, good platforms and etc. By 5 years, you should have REALLY good idea of PA actions and should be almost an expert in the investing in the instrument that you specialize in and investing in general.

 

[comagnum]

You can learn to trade in a few years sure, but when you look back at say the 10 year mark you will find that what you thought you knew a few years into was not so much after all. I don't see trading as an 'art' but as a skill where instincts at some point develop that take this skill to a higher level.

 

[lawrence-lugar]

Trading, successfully or fruitfully, is kind of like Warren Buffet's story...

That first million is the longest and hardest to make...I think Buffet said he became a millionaire around age 50 or something. From that point on, that's when things really expanded exponentially for him

Things in life are kind of rarely an even, proportionate graph line rising steadily...it's more or less, heavily skewed.

Trading is an art (or skill); it basically Has to be. Because things are relatively crazy and irrational the shorter the time frame or horizon.
Rational or logical or conservative minds will fail at trading. -- they're more fit for long term investing.

 

[rajesheck]

Trading, successfully or fruitfully, is kind of like Warren Buffet's story...

That first million is the longest and hardest to make...I think Buffet said he became a millionaire around age 50 or something. From that point on, that's when things really expanded exponentially for him

Things in life are kind of rarely an even, proportionate graph line rising steadily...it's more or less, heavily skewed.

Trading is an art (or skill); it basically Has to be. Because things are relatively crazy and irrational the shorter the time frame or horizon.
Rational or logical or conservative minds will fail at trading. -- they're more fit for long term investing.

Both intraday and eod charts have the same dynamics from the perspective of trend trading strategies. Trend reading skills (not scalping) in day trading can be applied on positional trading.

(Day trading gives more signals or opportunities than positional trading. And the possible gaps in eod chart cuts profits.)

What is more important is to find genuine edge. One symptom of genuine edge is that it also can act as an alert to exit, instead of purely depending on stoploss.

If my strategy purely depends on stoploss to exit then there is more scope to work on edge.

Another approach is to have a simple edge and a stoploss.

It all depends on what is my expectation and how much i wish to develop my skills.

 

[Windlesham1]

I know intelligent guys who will never 'learn' to trade after 20+ years of trying

 

[rajesheck]

I know intelligent guys who will never 'learn' to trade after 20+ years of trying

Very true with many traders. People think trading is about learning some techniques using their existing skills particularly analytical skill.

Trading is all about learning a totally new skill. A skill of dying and rebirth into a new creative personality. It is a creative psychological skill. Art of dying. Art of psychology. Art of business.

Art of living, in general.

Trading is an art of business psychology. Business skill is the highest of any profession. It teaches many vital life lessons than any other profession in the world. It teaches us to be disciplined, creative, philosophical, principled, focused, confident, compassionate, humble, detached, competant, responsible, insightful, resourceful, leader, etc.

A successful trader is a business class person. A true professional.

Those who underestimate the trading skill will underperform.

You have to die before becoming a successful trader :
https://www.elitetrader.com/et/threads/you-have-to-die-before-becoming-a-successful-trader.306714