You're Welcome Mate.
how long it TOO.. ME Personally
Short answer : Approx 3 - 3.5 years
Now PLEASE TAKE A MOMENT TO UNDERSTAND WHAT THAT REALLY MEANS
LONGER AND BETTER ANSWER
it means. you start off as a newbie, you don't know anything and you get taken for a ride, like nobody's business.
you invest small amounts. it gets taken from you
you invest larger amounts, it gets taken from you
you then go through an emotional and psychological pulverizing , and wonder what the hell is going on, why isn't it working
All your friends around you and your partner make a point to tell you how stupid you are EVERY SINGLE DAY
again.. read this again and understand it
EVERY SINGLE DAY , pretty much..... FOR 3 YEARS
can you appreciate how much of a headache and emotional degradation that must be ? REALLY UNDERSTAND THIS.. ok
anyway , to cut it short
All up , Around $17,000 - $20,000 went down the toilet in losing trades in around 2.5 - 3 years
I NEVER GAVE UP THOUGH
and (this is not the part where i sound like a hero.. ok)
because i hear newbies do this all the time on babypips
LET ME BE CLEAR ON THIS
(sounding cool and honourable and saying what people expect you to say IS NOT GOING TO GET YOUR FINANCIALLY FREE)
i didn't STICK TO THE COURSE because it was honourable and people told me to.
you see mate, my job involves proving things and solving problems for a living and being patient
so. WHAT I DID WAS THIS....
I worked it out on a spreadsheet AND I KNEW WITHOUT QUESTION, IT COULD WORK,
there were just some kinks that needed to be worked out
i formulated a step by step flow chart to keep me in check
i made video logs of myself trading and then i would review them after each win or loss.
i would scrutinize my opinions, my behavious, psychology at the time, body language when winning and losing etc.
to determine what patterns i was doing at certain times.
(those videos helped me a lot)
Calculations were Calculations and that's why i knew it was going to work eventually
that's why i stuck with it while everyone was telling me i was stupid
and for a long time, i convinced them i had quit it, just so that they would shut up
and they did
only my wife knew, but then SHE STARTED TO SEE IT AS WELL and she gave me support (god bless her)
but i'll be honest, i don't blame her for thinking what she did and reacting the way she did
IT'S A HARD SLOG MATE, it truly is.
it's not get rich overnight... Not even close (there is no pretty rainbow here, it's a kick in the teeth and then you are expected to smile and shut up. it is hard, i'm not going to BS you.
and then at the end of the day
I got all that $20,000 approx back
i made a plan to get financially free which involved
- Paying off all debts
- Paying for my current life (at that time) aka, financing that current year
but this alone, only gets you OUT OF DEBT, Not financially free
Step 3. You need to pay (whatever amount was in Point 2) that same amount.
so.. the formula is total of (1) + (2) + (3) = Your life paid upfront by 1 year and you have no debt
AKA.. FINANCIAL FREEDOM for 1 year
now. all you need to do from this point on is MAINTAIN THAT 1 YEAR BUFFER
the hard part is
PAYING 1+2+3 IN THE FIRST YEAR
if you do it's gets easier from that point on.
i won't go into the amount, but i will say it was between $100,000 - $200,000 that i had to raise IN 1 YEAR to achieve the first goal
i'm am bloody happy to say, I HAVE DONE THAT
you have no idea how brilliant that feels
so.. Knowing that when you work and earn money... YOU LITERALLY HAVE NOTHING TO PUT IT TOWARDS
Except for 1 thing
towards the next year
but.. Forex is already paying for that hehe
so.. what happens is
YOU GET PUT ANOTHER YEAR UPFRONT for every year that goes by............GET IT
this is called being CASHFLOW POSITIVE (as accountants call it)
it means - When your habits are aligned in such a way that YOUR NORMAL BEHAVIOUR causes you to earn money
WHEN THIS HAPPENS you cannot help but get out of debt
EVERYTHING IS HABITS mate
Trading is Habits
Trading without emotion is habits
getting finances in order is habits
Losing weight is habits
quitting smoking is habits
a happy marriage is habits
IT'S ALL HABITS
so you want words of wisdom... THAT'S IT
Use the formula that i gave you 1+2+3
work it out on a spreadsheet as to how much you need IN 1 YEAR to get free
then (this is the hard part)
WORK OUT A PLAN TO ACHIEVE THAT GOAL on a daily, weekly and monthly basis
you must achieve it month by month NO MATTER WHAT
(but you won't always get it day by day)
now. if you get to a point where you work it out and you find you are trading really small trade sizes
DO NOT INCREASE YOUR TRADE SIZE TO GET THERE SOONER
YOU DON'T NEED TO !!!
STICK TO YOUR GOAL !!!
don't try to achieve a 1 year goal in 3 months or 6 months..... don't mess with it ok
work out what you CAN DO IN TRADING
and build on that
if it takes you 4 years, THEN IT TAKES YOU 4 YEARS... ok BUT AT LEAST IT WORKS.
most people are broke all their lives. so what difference does 4 years make
i was persistent though
i WANTED TO DO IT IN 1 year
and i did
Now, all the bills are paid upfront by a few years
Life is good
i have one last goal now
that is to achieve an amount (that i won't mention. because everyone will say it's BS) and it really doesn't matter to any of you anyway, nor is it your business.
but, the plan is.. get that amount and retire very comfortably
in the midst of all that
I'm also helping a friend pay off a 30 year mortgage which he just started
and the plan is.... in 8 years that will be done and paid in cash
so.. in 8 years we empty his trading account and his house is paid off in full.
i also have 2 little nephews and when they turn 18 and are old enough to trade, i plan to start their life in financial freedom and paid upfront and to teach them to trade (alongside whatever else they plan to do in their life)
so that they don't struggle through life , but instead they enjoy it the way it should be.
(i have not told them this yet, because i don't want them to be spoon fed)
I'm going to suprise them with it when they get into an aount debt that they can't control.
(so... I'm teaching them trading from a young age, but i'm not telling them there will be money ready for them)
i grew up hard, i believe they should also feel what that feels like , and not deprive them of the life experience
but i won't allow them to waste a life paying bills and working for nothing.
now .would i have been able to do all this a few years ago... hehe HELL NO mate
but Persistence and knowledge and time and putting up with enough crap and testing enough things over and over again and staying patient GETS YOU THIS
so... Look at how long it took me
now compare that to how long people stay in the market until they get fed up and leave forever
NOW YOU UNDERSTAND WHY 95% of people lose and quit
because the market puts you through so much crap, financially and emotionally that YOU WILL VERY LIKELY GIVE UP
at least most people will
THAT'S THE NATURE OF IT
now if you can get past all that, maybe you have a chance
DOES THAT ANSWER YOUR QUESTION hehe
I bet it does huh Yes indeed.
be cool mate