It depends on individuals skills and ability to grasp the market. An average person takes around 3-6 months to understand the basics.You can start with a demo account ,so you won’t lose your real money.
I would say, your ready when you have a trading plan that has been back tested.
Within a few weeks one can learn all the technical things related to the forex market. But in order to understand psychology and money management you have to devote more time.
With a good mentor 128hours which can be 2 weeks or 2 years.
Without one 5-20years… failure is possible too. Be humble when deciding your path
Step by step improvement is obligatory for a trader. Forex trading will remain a daydream for those who want to learn Forex trading overnight. Rather than that knowledge is such a thing that grows gradually. But, to gain knowledge, traders should be passionate about it. But, newly arrived traders think themselves so smart that even expert traders can’t think.
Using a common third currency to assess the strength of what you see on the target chart is an excellent way to get confirmation. And definitely don’t just zoom in your focus onto something like an engulfing bar entry signal pattern.
It is variable for every learner because every trader has different mental power and ability to learn a concept.
You can’t rush your learning experience, and my personal opinion is that you never stop learning to trade. It can take a year or so to begin, but once you do, it’s addictive and you want to keep learning more.
Where should I learn it from?
i believe you need at least a few years, because markets are changing all the time.Some periods you can extrapolate the charts and gain more profits then maybe there is a lull of opportunity , a novice may not have the experience to realise this .
According to me, it depends upon the person grasping ability and consistent practice with demo accounts. A daily follow up with news and learning concepts from baby pips will definitely ease the process of learning forex trading.
I would say that everyone learns at their own pace.Trading is a skill that can be acquired through practice. So it all comes down to practise.The more you trade, the more experience you’ll gain. You can also learn more about forex by watching some YouTube videos. Also, you can refer to babypips.It is good for beginners.
I don’t think there is any easy way for quick learning. It took me a whole year to learn about forex basics and practice on a demo account to be able to actually trade with real money. Learning is a slow process, it’s not good to time bound yourself.
It varies from a trader to trader as each trader has different mental capacity and ability to learn something. So, everyone learns at their own pace.And when it comes to trading, one should never stop learning in forex.
I completely agree with you on this, IMO learning is the key to shine in forex. As the market is very volatile so a trader needs to be very informative while making his trades.
Education in trading without an objective is futile. There is no limit to what you could learn.
The amount of education required is determined by what you want to do with what you have learned.
If you want to be able to run a simple objective proven profitable strategy that does not generate too many trades, 1 month.
Everyone has their own. well, in terms of time, it is at least 2-3 months
Reading up on forex trading basics will take some months. But what would matter is how well you understand what you have read. So, it might take some time. As you don’t have to pass any exam, you better learn at your own pace.
There is no definite time as each person will learn at a different pace. Also it’s the question of whether forex is right for you or not. However, i’m certain it won’t be a quick journey.
First of all, this is an opportunity to earn money with your mind while sitting at home. You need a low-performance computer, internet and good market knowledge. The amount of earnings will depend on your knowledge and ability to learn.