Some people say it takes 2 years to become a day trader. I think the answer is yes and no.
It will likely take 2 years for a beginner to learn all the trading knowledge and have an income stream big enough to support at least one person comfortably without fear. 2 years to learn how to be consistently profitable in various market conditions.
However, I think just becoming consistently profitable can take anywhere between 3 months and 1 year. If a person has the right trading knowledge and a personality suitable for trading and works full-time on trading, then becoming consistent in 3 months is not impossible, but 6 months of full-time work should be reserved for a good beginner who’s on the right track.
I don’t think it takes 2 years to just become consistent or consistently profitable if one has the right trading knowledge and a personality suitable for trading.
In many cases, things take longer than necessary due to censorship or lack of knowledge. I don’t think trading is an exception. If you start with the right mentor or the right learning materials and work hard, then you shouldn’t need 2 years of trading.
Simple answer : It depend upon person to person capability of learning, showing interest, investing time, having decent capital to invest, having some luck and based on the privilege he/she has.
Example : Warren Buffett or Jerome Powell children’s can learn Forex, Crypto & stock investing much faster compare to others because they got privilege of funds, information, mentor, etc
I think that’s what I was suggesting… Information and mentor can shorten the amount of time it takes to learn trading substantially. I was just making up numbers to illustrate the fact that there are things that can accelerate the learning process.
I think I have basic crypto trading knowledge which allows me to plan paper trades. I don’t have a rule-based system, yet, but I’m getting there.
Who do you recommend for learning crypto trading? Which books? Where can I find a mentor for crypto trading?
There is one problem, you have to find someone who has knowledge in different trading method types and discover, which trading method fits to you. btw, tell me why crypto?
I want to spend money outside centralized financial system. I want to have a foot print in decentralized financial ecosystem in the long term.
I may expand my reach to forex and stock and commodities later if I want to spend money in the centralized financial system.
I know the centralized financial system is heavy on censorship. De-banking is rearing its head. I want to have more options which lead to more freedom. For me, it’s about personal freedom and personal power. I’m aware of the collective issues, but without personal freedom, I can’t do anything. At least, if I have some money to spare, I can donate… to people who work for collective freedom or move to a better place where I can help people better.
Hi there,
Here are some people I follow on Youtube whose belief system aligns with yours (and mine). It took me four years to find these sources of information. I hope it takes you a lot less time. Enjoy.
Raoul Pal
Max Keiser
Coinbureau (that Guy)
Benjamin Cowen
Sajad Ali (very recent, my latest strategy to snipe meme tokens)
I think I like what they say, but they don’t look like short-term traders.
I don’t mind learning trading knowledge from people whose values don’t align with me because trading isn’t done to improve the world. Trading is done to cover my ass and pull my own weight.
We are all here to take care of our own needs first. We have to take care of our own needs first and then do other things we want to do.
Long story short, I know that in a better world where people see humanity as one family, people don’t need to invent money as a concept, but that’s not what we have now.
Teach me how to fish in the trading markets, and I will eat for the rest of my life.