The market is so bad at the moment that it is really hard to ger profitable again.
Maximizing your investment potential is like mastering a fiery salsa with the market’s bulls and bears — step lively and keep your balance. You gotta scope out companies with ritmo, like Volkswagen AG-PREF, cruising with a current price of 86.52 EUR and a P/E ratio of 3.451, way below the sector’s 10.013 — talk about a bargain on the dance floor! Analysts are cheering a ‘Buy’ with a 47.25% upside forecast, pegging a target at 132 USD, while its 8.26% dividend yield adds some spicy cash flow. Check out https://admiralmarkets.com/stocks/vow3 for the full beat. News sentiment’s a mixed salsa at 52% positive, so you’ll need to twirl through the noise. Don’t trip over volatility — its 24-hour swing from 85.62 to 86.76 EUR keeps you on your toes. Spread your steps wide with diversification, amigo, and you might just lead the dance. The market’s a fiesta — enjoy the rhythm, but don’t step on its toes!
which market are you trading on? and which asset?
5 years and only lost money, need another 5 years I guess to get back what I’ve lost… Took too many big red shots.
Fail but fail well, don’t over trade and only risk 2% per trade. Always respect your stoploss
i just started a similar thread with this very question. how long does it take
some people get the job done in 2 years and it has always impressed me because you cannot get much backtesting done in 2 years so its an indication of great instincts
Well, I m not saying all, but most are not being truthful. Ask the right questions and you will be slapped with a sales pitch.
You can get all the backtesting you want done in 2 weeks.
It’s forward testing that’s limited in the way you mention: in 2 years you can do only 2 years’ forward testing. Hence the significance and essential component of out-of-sample testing, when you do backtesting.
backtesting itself is a skill, so you are wrong
When I first started, it took me a while to get the hang of things, like really understanding how the market moves. It wasn’t until about 9 months in that I started seeing consistent profits, but it was all about trial, error, and learning from mistakes. Some people might take longer, others might figure it out quicker. Everyone’s journey is different, so try not to compare too much and just keep working at it.
there is no one answer to this question, it will always depend on the traders and how fast he can familiarize and get used to trading and understanding different strategies and conditions that comes with trading and getting his rhythm going. some might take weeks, others years even.
a decade is reasonable time to learn a skill and another decade to master it
In my experience, consistent profit is the most difficult challenge in forex trading, maintaining good performance requires high discipline, while emotions often distort this issue. So there is no specific time to be profitable, effort is more valuable than just seeing the results
I started with a £1k account, traded structure and had a good start, then 1 trade went against me, I added to losers and eventually blew it. Then I spent years looking at systems trying to find the holy grail but never had anything that worked well long term. Blew another £1k account in all this.
I started trading price action again and turned £1k into £5k before IC Markets kicked me out of the ASIC regulated account so I withdrew it all and stopped trading for a while due to work being busy. This would be about 3-4 years since I started trading. So I was profitable at that point.
About 5 years ago I started trading spread betting with Pepperstone. I took a £2k account to about £5k and was happy with my trading. I then had a fairly serious accident and was stuck at home worried that I wouldn’t be able to work again. I deposited £30k with the intention of trying to make a living out of trading and having a backup plan if my hand didn’t recover. But I was in a terrible mental place and just gambled it all away in a sea of depression.
I started doing real work and rehab which put me back in a better place and have been profitable every year since losing all that money. But I’m still not in profit overall.
there is not answer to that question, more like how long will take to settle down and fathom the world forex and find the perfect groove. it will always differ from one person to another, back in 2015 4 years into trading live, i was still blowing my hfm account (small) and there was no avoiding it till i got to a certain rhythm and stick to a certain strategy and learn to appreciate being breakeven.
Have you got some proof of track record that you are profitable? It’s amazing how many people on here claim to be profitable, especially when a large amount seem to have no idea what they’re talking about.
the audience is direct competition