Hi. Im trading demo and i got a simple question for you guys… roughly how long do i need to take on a position before i see some green? I dont wanna trade the 1min charts and make some money quick (or lose as it mostly the case) instead i think im a longer term trader and i wanted to know how long will it take before i start seeing some profit? days? weeks?
Thanks!
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at a mimimum, months or years, and for the majority of people, Never.
It depends on your strategy. Go through the school. Long term trading is more reliable as far as indi’s and price actions is concerned. 5min and 15min trading requires balls and an eye for reversals. Its really up to YOU!
Trading full time job? - Short and Long term.
Supplement income? - Id recommend long term but I play short term because its easier to trade the prime hours.
Its all based on the individual - honestly there is never a guarantee you will make money.
In all reality you could (just like vegas) throw 2k into a trade and come out with 1000 more the next day. In that case it could potentially be luck but there are traders cough SAM SEIDEN cough who eat pips for breakfast and drink champagne the rest of the day.
Just work at it. Demo Demo Demo. If it doesnt work for you it was not meant to be.
Yes, it’s how long is a very very long piece of string!
If you have a methodology that suits your personality, and it also provides an edge, and you have a business plan including a set of rules on how to best follow your methodology, I would say 3 months to 1 year to become profitable.
If you don’t have a methodolgy with an edge, or a methodolgy that suits your personality, then you will fail to become profitable until you have this. No one can tell you what this is… it is an individual thing. The hardest part is, the vast majority of ways of analyzing the market do not provide a sustainable edge. A few that work are:
Volume Spread Analysis
Trend Following
Order Flow analysis
My best recommendation would be to find a mentor, someone who is already successful in the markets, and willing to teach you what they know. This will likely decrease your learning curve to under a year, as they will provide both a profitable methodolgy, as well as a way for handling risk and emotions as you start to trade. Without a mentor, most would say on average about 5 years to get this down, and thats for those who do end up becoming successful. Most don’t ever.
Good Luck!
Jay
When you place an order, it always starts in the red. From there is can fluctuate from red to green in moments. It doesn’t matter which timeframe you are on…price is the same on all timeframes, and the candles only represent ranges in pip movement according to that "time"frame. Price can spike 100 pips in 10 mins if you’re looking at a 1 min chart the same as it would on a daily chart. Price can also drift in a sideways range for hours and hours and only move 5 pips…again no matter which timeframe you are watching.
You could open a position and it could go green right away. If you only want 10 pips profit, you could be doable quicker than if you want 100 pips. Sometimes you might want 50 pips, and price will get to 49, then reverse all the way back to your stop loss.
If like to scalp, you may only want a few pips per trade, over many trades in a day. If you’re more comfortable swing trading going for 100’s of pips, that may take a couple of trades over days or more. Position trades go for even more pips which could take weeks or more. Then it depends on whether over the long run, how profitable they average out to be as not all of them will win.
There is no answer to that as there are waaaay to many things it depends on and, as Purplepatch put it, is like asking how long is a piece of string…lol.
If you want to see green in your account then focus on to learn the game and improve your game
dont worry about winning or losing thats just part of any game
what you need is winning atitude and burning desire to learn
and then a day will come when winning will become easy without any hard work
You guys are soo right - Im convinced this is for me… besides im 16 and i cant open an actual account until im 18 and so i think i can get my game together and invest 10K (GBP) whilst living under someone elses wing at Uni or whatever… I made 2.7k in a day on one trade so thats boosted my confidence.
Thanks guys… i got it… i got to find whats right for me… i think im almost there - just a little tweaking and if theres one thing which any trader needs??? Its balls. And more than a pair of it too.
