How many it takes to be a profitable trade
it depends on the person and how much work you put in to learning the skill
I would say it depends what you define as a profitable trader
Being a profitable trader to me is all about having a process that works all year round so I would say a minimum of two years…
I would say building a process is a learn-able thing so if after 3 months of live trading you are still excited as you were when your first started then I would say your a profitable trader in the making…
I guess my point is they is no such thing as a master trader and anyone who tells you otherwise has never traded…Every trader is always learning
Yep this is a rant…sorry …my first post of the day and its late in the afternoon 4:18pm in the UK
As it was mentioned above, in depends on numerous factors including your education, previous background and experience, and also the time you can dedicate to trading. Some traders think that it is enough to spend just one hour per day to be able to compete with top-tier full time professionals, that is why their real results surprise and discourage them.
The time necessary to become profitable depends directly on efforts made by the trader to improve his performance. It is important to understand that placing orders is just a small part of trading process in general, while the success often determined by proper preparation to each trading session and in depth analysis performed after it. For this purpose, trader should make a records of all his trades to be able to define mistakes and eliminate them.
As usual, it takes nearly two years for an average trader either to become profitable, or to leave trading. This period could be longer or sometimes even a bit shorter.
im breaking even after 2 years, but have a full time job with kids so find it difficult to find the time, most analysis is done on the train to work on the phone and then later when the kids have gone to bed.
in the game since 2012 …round about 2 years ago i finally started to see some steady green numbers …not fulltime yet but able to reduce a fulltime day job to a 1/2 day job …gives me more time to take trades when necessary and this will lead to reducing even more of my now 1/2 day job until its a 0h day job ^^
may the force be with us all !
i like the comparison with a pro athlete…like for example a soccer player :
its not enough to play a bit here and there he needs to do training everyday…day in and out …training of corners ,training of penaltys , how to trick other players etc …so tradig is like every proffesional craft or sport it needs intense time of repeating tihngs over and over and learn from mistakes in order to make it better next time …so question how long it takes to become profitable is very hard to answer and depends on your personal abilitys of learning from failures the ability to stay emotional strong and of course finding a method working for YOU and gives YOU an edge in the market …
just my view