I’ve been learning in the past couple of months and understand that this will take time. I just want to see an average of how long it took others to profitability.
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It took me 8 months on a demo account, and then a further one year on a live account before I reached consistent breakeven profit, which is where I am today. In December I made 0.01% profit, followed in January with 0.19% profit.
Just persevere and you will get there. Best of luck.
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to be a profitable trader from this trading place is not a minor issue , need a very long time trading experience with a reliable support from a credible trading broker , otherwise no way to survive.
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It took me a lot of time to understand how the market works, but eventually I started seeing good results.
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hi and welcome ,
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to become profitable from this trading place is really a challenging issue , need a very good patience with a learning mentality.
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The time to become profitable can be calculated from the number of myths concerning trading which the new trader swallows.
Such as -
- you can only make money from forex by day-trading
- you can make huge money very quickly
- you must invent your own strategy
- don’t trust trends
- the best place to get in is just before a reversal
- look for trades that give a r:r of 1:5
etc.
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It took me three years to reach the level of profitability. More and more dedication I invested to reach that level.
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Traders should take time to understand the market properly. Then they should go for live trading.
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I think it doesn’t matter when you get profitable, crucial is HOW you got profitable.
Some people need years, some peole need months and some people are still not profitable after years…
I became profitable aftere hopping into a ongoing trend instead of trying to predict a trend and be the “first” one to enter.
Another important way to become profitable was to open position only in the same direction of the higher trend/timeframe (W1), however I never trade the W1 tho.
I also can tell you that I become profitable after ignoring indicators, especially on lower timeframes like H1. Higher Trend, momentum and price action (price itself) are the only indicator you will ever need, well of course it depends on your strategy and knowledge.
Another hint: avoid trading pairs which have HIGH impact news soon
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It took me more than 3 years to reach the level of consistent profitability. Strategize your trading as early as possible.
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It took me 5 years of continuous trading
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Proper risk management policy will help you reach the level pf profitability soon.
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Not too long.
Extensive back testing will help you find something that looks like it has an edge.
Real time paper trading will show if that edge is profitably tradable, but note: if the edge is good over let’s say 23 trades or 65 trades to be, for instance, 54% profitable with a win to loss of 1.2 to 1, you will have to figure your probable maximum loss and trade ALL 23 or 65 trades before you stop and adjust or abandon.
Right? An edge cannot play out if you only catch a part of it.
The time it will take after back testing to make real money depends on your time periods. If you have something you real time test for 20 trades and trade once daily, you will be real money trading after one month.
Hang in there, relax and enjoy.
All the best to blueskies18.
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And not just the market but themselves too, psychology plays a huge role in this field (personal psychology and trading psychology).
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It took me 3 years to reach the level of profitability. I always try to use multiple strategies in my trading.
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Its the wrong question to ask. Given that less than 10% of traders becomes profitable you should rather ask: Why do you think you have not become profitable yet?
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Reaching the level of profitability may take you some more time but don’t grow worried about it.
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After being in stock market since a long time, still i am not profitable.
Could not find a strategy which is accurate and profitable for me.
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Not until one realize that trading is different from casino game. Trading is a sibling to gambling, but one must make disparity between the two.
Trading is the hardest profession I have ever come across and this is so because it is strictly against our human nature. To be able to see a glimpse of consistency you must be ready not to over trade and always have the courage to walk away from you trading desk after two bad trades.
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