If we need a figure to compete with what I say is the 10,000 hours to trade myth, maybe I ought to put up some alternative number…
Let’s say you’ve already got a live account and a demo account set up and you’ve trialled each so you can use the platforms correctly.
Now need to find a strategy, learn it, adapt it a little as necessary, run it in demo to flag up contingencies that need to be planned for, and then start trading with small positions at first.
Find a strategy - 1 day. The strategy should be simple as its your first strategy, and should have a reputation for reliability.
Learn the strategy - 2 days. If it takes longer than this its the wrong first strategy.
Adapt the strategy to your style etc. - 0-1 day. Maybe nothing will be needed here, but if you have to work on it for more than a full day to make it work for you, again its the wrong first strategy.
Run the strategy in demo - 2-3 days. Its a simple strategy, and you’ve either modded it a little or not at all. Use the demo account to run the strategy in both ideal and stress-testing situations. Find out when you should use it and when you should sit out.
Run the strategy in the live account - 5 days. At first you will still continue to learn about how the strategy works in real time. Experiential learning never ends, but the rate of gaining new understanding of a new, proven, simple strategy tapers off fast.
I make that a maximum of 12 days, though I think most people could shave a third of the time off this. But that’s still a maximum total of only 100 hours.
Let’s face it, how long would it take to learn the Turtle strategy? Or the 3 ducks? Or buy the pullback?