Hello there my name is Thami i am from South Africa, i have been trading forex market for about 5 years now and m still trying to get the hang of it, by that i mean i am still trying to be a profitable trader consistently but i am almost there pretty soon.
To answer the question on the agenda, I would like to say practically and realistically speaking it will take roughly about 5 years for a complete newbie to become a successful trader. The reason i chose so much years it is because there is a lot to master about trading, its not just one thing. first of all lets talk about studying which is the theoretical part of it learning the theory of forex and being familiar with the language that could take about a year roughly. After theory now its time to learn strategies like price action,indicators and all sorts of strategies out there till you get the hang of a certain strategy, that could take about a year still, now its time to practice on demo all the strategies you have learnt also this can take about a year trying out different strategies. what about Risk management? a big problem because you have to see if you can implement and keep it in line with your favorite strategy, this could take about a year still. While you still at it, the strategy and risk management might be a struggle you need to learn more on trading psychology the most difficult journey about trading and this could take about a year now its four years rougly and so far you have learnt it all from price action , risk management and trading psychology and the final year which is fifth year its about mastering the yourself inline with your psychology and before that year ends you will start seeing the positive result of being profitably consistently and you can now confidently say you are a successful trader.
My conclusion is that success in trading is not money or flashy lavish lifestyle that is always displayed out there, success in trading means proper knowledge, trading the right way and money will follow you for the rest of your life. Thank you.
I am N just started trading last week it’s a lot to do as it requires insight to analyse the markets
In the next 6 months I will be a successful trader gathering all the resources I get and with the lockdown on us there is more to study and more income in the future
Thank you
Hello Babypipites! You can call me Goate for short. Acronym for Greatest Of All Time Ever. From the looks of it the only place that appears not to have a national on this site is probably Mars. I’m from Jamaica by the way, where the exchange rate is a record J$144.09 to US$1 today May 1st 2020.
I was attracted to this business of forex a little over a decade ago but back then I got misled and was badly burned to the tune of just under US$50k. Google “The con man and his mentor” and you’ll understand. I kept away but always intended to make a return. I was hastened by two good friends late last year. Seems like I did it the right time, just before Covid 19 and the epic downturn everywhere.
Been demo trading since mid March and of my last 27 trades I only lost 2, no joke. It’s a strategy I’m trying out, learning the forex business in phases. My goal was just to win trades. Next goal is to focus on stop losses and profit targets.
I believe there are too many variables for anyone to definitively predict when they will become profitable at forex trading. Some people learn faster than others, some have more time than others, some people are impatient, some greedy, and the list goes on and on. Even the amount of funds you have in your account is a factor because if your account is large you can have a wider stop losses making it less likely that you will be bounced out of a trade before it goes in your favour. The sad truth is that most of us never will. My suggestion would be to properly educate yourself, take it seriously, and pretend it is a life and death matter. That should motivate 90% of us, lol. I would really like to be profitable before the end of 2020 though, that is my ultimate goal.
Just 3 quick suggestions before I go. Firstly, each off those US$25.00 gift cards could be split into five so more of us loyal students get a piece of the pie. US$5.00 goes a long way in many jurisdictions outside of the USA. Secondly,a flag counter could be put somewhere on the site so everyone gets an indicatuon off just how popular this site actually is. Thirdly, on the front page where it says “Forex Glossary” the sentence below is missing the word “be” which should come before the word “able”. Enhancing your trading vocabulary is crucial if you want to able to follow the financial markets.
It would be remiss of me not to say that this is the best site I’ve come across so far as it relates to the subject of forex and I am sure many of those who read this will agree. If you do please like this post Keep up the good work.
Hello, my name is John from Nigeria. I’m actually a graduate from the prestigious school of pipsology. I live with my parents and siblings. I spend most of my free time if not all, trying to learn forex and I spend a lot of time studying my chart.
I have been demo trading for some months now. But, after I graduated from the school of pipsology I became more profitable. Although I haven’t opened a live account.
This is my opinion on the above question: How long it will take a person to become a successful traded sowly depends on the individual in question. For someone to become a successful trader he or she has to develop a profitable trading strategy that suits his or her personality and follow the strategy diligently.
It takes dicipline to become a successful trader. And a disciplined and hard working trader will tend to be more successfu.
During my study in the school of pipsology we were to taught that, for one to be successful trader he or she must develop a trading strategy and demo the trading the strategy for at least two months and see if it works well for him or her.
So, determine how long it will take me to become a successful trader, I’ll say three months. That’s two months of demo trading my strategy and a month of back testing the strategy and taking journals of my day to day trade will be ebough for me.
Hi, My name is Kab, I am a new trader who dived straight into live trading, due to discipline, confidence, patience and thorough prior research, I am already profitable. I use a personally modified version of the MACD crossover strategy. Good Luck everyone.
Hi all, I’m Ayooluwa from Nigeria, I live with my parents who mean the world to me, during this lock down due to corona virus I’ve been able to give adequate time to the school of pipsiology.
I’ve been demo trading for a month now,hopefully I aim to build and strengthen my technical analysis skill before I engage in live trade
Within a period of two months, I would become a successful trafery
Hi my name is Nasan01. I’m a total newbie to FX and BabyPips but so excited to start learning trading. I am very grateful this community exists and that there are abundant educational resources available on this site. I am hoping that I will become a successful profitable in 6 to 9 months but I’m willing to learn, unlearn and learn rules to the trading game.
What’s up peeps, hope you having a great time and hopefully this intro will be more useful than just another LONG regular intro.
So my initial step into trading as gambling started back in 2017. I received my first salary, so obviously why not burn some cash right? After a few initial trades somehow I doubled my portfolio and then confidence took over and everything burned quicker than I could ever imagine. As a result, I cursed everyone around me (even my cat) and myself simultaneously losing a bunch of hair and getting a few slaps as a reminder. Since then I wasn’t very active in day trading, however, I was a loyal ‘HODL gang member’ in the cryptocurrency world and moving forward I started investing in stocks. Then back to these days I moved some of my money to CFD account thus getting back into day trading. Having a sort of better understanding I started making more rational decisions based on things I learned in this forum. Unfortunately, as we all know the history repeats itself and being overconfident after a whole week (i trade daily) of green trades I burned 20% of my portfolio. This reminded me that even if I know thing or two, I did a fundamental mistake by moving my stop loss
which indicates lack of the discipline and it’s time to step back. Thus getting back to this forum and going through the course once again. That’s how now I’m writing my first ever post even my acc is created back in 2017.
So answering your question on ‘How long do you think it will take you to become a successful trader?’
I think it comes to how quickly you will accept your weaknesses and start working on those. Which if you’re still here came at a cost for me, but you could be smarter and avoid all or at least some of that by looking into guys like me.
P.s. now as you know more about my life than some of my friends, I think you can call me David and feel free to connect.
P.s.s. Jesus, it’s 1 am here in London, no wonder why this reached 400 words
It sucks I’ve been scammed too but wow 50k is something else. Nonetheless Welcome to the family, i hope this forum will get that much needed exposure to keep conversations going !
hey. Am Dominic from Nigeria, I have been trading for 2 years and probably have been a profitable trader, i trade on a demo account for 7 months before trading on live account. its first start with you .[Removed for Forums policy violation]
Hey everybody! Im Konstantinos from Greece! My girlfriend introduced me to forex and I believe the timing with this quarantine was perfect bcs I found the time to understand and focus on forex! Its really fascinating and also freakin cool to be a forex trader!
I’ve been studying forex through babypips, currently in high school and I just ordered my first forex books! at the same time I have been trading on a demo account and I can say that everything starts to finally fall into place. My plan is to complete school of pipsology within the next 2 months while trading my demo account at the same time. By the end of this year I m hoping to have my strategies all sorted out, start trading on a real account and also shape my trading mindset! I wish to everyone in here to enjoy the process and reach their goals! Thank you babypips for sharing all that knowledge, you are awesome!
Hello here,
I am Lucky from Lagos Nigeria, I am the first born of six children and graduate of microbiology.
I am newbie to babypips and I ventured into trading January 2020, and hope to mastermind the art of being good trader before this end of this year through consistent learning and mentorship,
I am so glad to have found a platform like babypips, in just a shortwhile i have learnt so much from the School of Pipsology.
Cheers!
Hi family, I am Caleb omobude o. From Nigeria fresh graduate studied Accounting. I join this forum not too long but have been in the preschool trying to learn and come forth smart with beautiful result. and i have been getting updates from this forum i am grateful and I have been successful introduced many of my friends to babypips, with the class I have passed through it might take 12months to be very good to take a management risk meaning by 1year from now I will come out strong thanks for showing me what I can afford with cash.
Hi I’m Protus from South Africa i live with my family and still learning how how to trade, this month is my 3rd month learning how to trade and it’s pretty going well.
To become a fully successful trader it would take me about ten years because of the many challenges that the market has, i think you’ve seen the changes in the market since covid 19 started so there could be more challenges in the future that would need me to learn new ways of trading so i can over come every thing which is coming my way when it comes to trading.
Bonjour mon nom est Laure SK, ça fait déjà 7 mois que je me frotte au Forex en demo et je n’arrête pas d’apprendre tous les jours. je me sens déjà prêt pour me lancer avec compte réel mais je me donne encore 2 mois pour achever la formation que j’ai déjà entamer afiin d’être encore plus confortable!
Hello my name is Jaden and I’m 19 y/o from the GTA in Ontario, Canada. I recently quit playing competitive soccer so I’m using my time in quarantine to tryout different hobbies and develop new useful skills.
In January 2020 I started learning the basics and theory behind forex and today I’m planning on getting practical and opening a demo account. I believe that it’ll take me 2 years to become a successful trader in my eyes. To get there, I first plan on being consistently profitable on a demo account for 3 consecutive months using my trading plan, then from there move onto live trading.
Hello everyone,I hope you’re all safe.
I’m Nnamdi ( or just ND for non Nigerians🙂) ,a young Nigerian student,and no, I’m definitely not a prince because if I was,I wouldn’t need to spend
so much time trying to supplement my family’s income . I’ve been demo trading for two months now and I believe it will take between 6months to a year to develop the required skills to be a badass trader.
Light and love everyone.
Hello, I’m Rojaye! A newbie to trading. I am from Jamaica, a beautiful island in the Caribbean where not much trading is done.I am also an avid gamer with information technology background.
I have a game plan to improve my knowledge to earn profits and better educate others on this awesome way to earn revenue. I intend to do this by perfecting my awareness by ensuring I pay attention to the economy and other events happening in and around the Forex diaspora.
This is sunny kalu, from portharcourt Nigeria.
I want to trade as carrier . I don’t have a job now.
With full concentration, I can become a successful trader in 1 year and 6 months.
Hi all! I’m Tony from Lagos. I spend most of my free time on the social media and meeting up with friends. I’ve been live trading for a year and few months now although I have not been consistent. Going by what I am beginning to learn concerning forex I hope to be a profitable trader within the next six months. Currently, for three months I have been able to manage my trades such that my investment is still intact even though I am yet to make significant profit.
I’m hoping to improve more on my trades by continuously studying market behavior and response to news outbreak. Learning to understand when a currency has reached a massive buy or a massive sell within different times and know how to trade it accordingly.
Keep up the good work.
microbiology.