How long did it take you to become a consistently succesfull trader

tokenforexguy · #1 (**permalink**) 12-04-2007, 08:18 PM

This one is for experienced live traders if any

1st my thesis: One has to develop their own trading system to fit ones trading style, even if the system is a modification of a previous system.

OK now my question I've been trading LIVE for 2 weeks now. First day I lost a good bit of cash. I started a mini account first so I could get used to live trading vs demo. After that I made small but consistent gains, Ive been adapting my system according to my trading psychology (I now know how much it plays a part). I've made up my initial loss, and when I do make a losing trade I can identify immediately what went wrong. So... how long did it take some of you LIVE traders to consistently make a profit ? Being a college student I'm hoping once I have all my psychological/ trading flaws tweaked, I could do this as a part time job, but then again I'm a real noo, so I'm starting with a mini account, any responses are very much appreciated

daydreamer65 · #2 (**permalink**) 12-04-2007, 08:28 PM

Maybe taking a look through this thread may help.

How long did it take for you to start gaining success in the FX?

tokenforexguy · #3 (**permalink**) 12-04-2007, 10:07 PM

Thank you, I searched ever different combination, guess I didn't type the right one. This is a perfect answer to my question. Once again thanks

daedalus · #4 (**permalink**) 12-04-2007, 10:31 PM

12 months.

traderlady · #5 (**permalink**) 12-04-2007, 10:42 PM

Quote:

Originally Posted by daedalus

12 months.

And how's your forex trading been so far? Aside from the fact that you got successful after 12 months..

daedalus · #6 (**permalink**) 12-04-2007, 10:54 PM

Quote:

Originally Posted by traderlady

And how's your forex trading been so far? Aside from the fact that you got successful after 12 months..

Well i'm new to forex as of this month, i traded s&p 500 futures prior to me migrating over for the past couple years. So I don't really have another month to compare it too, but i'm making good enough money to satisfy myself!

As of the close at the end of today i've had 1 losing day since Nov 1st and i'm sitting at 75% win rate, and +821 since Nov 1st.

Cheers!

tokenforexguy · #7 (**permalink**) 12-07-2007, 12:19 AM

Quote:

Originally Posted by daedalus

Well i'm new to forex as of this month, i traded s&p 500 futures prior to m'm making good enough money to satisfy myself!

As of the close e migrating over for the past couple years. So I don't really have another month to compare it too, but iat the end of today i've had 1 losing day since Nov 1st and i'm sitting at 75% win rate, and +821 since Nov 1st.

Cheers!

Is that 812 + pips ?, if so, i used to invest in equities, but have become more interested in the technical aspect of currency trading... what skills did you use from your futures experience in the forex ????

daedalus · #8 (**permalink**) 12-07-2007, 12:23 PM

Quote:

Originally Posted by tokenforexguy

Is that 812 + pips ?, if so, i used to invest in equities, but have become more interested in the technical aspect of currency trading... what skills did you use from your futures experience in the forex ????

Yea +812 net. Well I have traded that same methodology on both markets, i've just found the fx markets to be more smooth and methodical. The only skills that can really be cross applied would be the trade management and emotion management that comes with any trade. But I really feel those two things are more important than any indicator or signal on earth. The signal doesn't matter, how you manage each signal is what makes or breaks you.

Cheers!