How long does it take to become successful in forex? - page 3

New comment
 

Hmmm....how anyone, and I mean ANYONE can say something as ridiculous as "maybe a year" to become successful as a forex trader just makes me laugh...

There is no right answer or wrong answer to this question-but there are definitely head-in-the-clouds answers and feet-on-the-ground answers here.

We all define success differently, but if we wish to define it as trading in the forex market with enough knowledge,understanding and consistency of results ,as to provide a sustained profitable income stream,to the point of being able to make regular withdrawals from your broker acct, into your personal pocket, without affecting the ongoing ability to trade- then you WON'T do that in a year...

Everyone is different, and for some, success will be realised fairly early in their forex trading experience.

But to me, "real" success is when you can say you consistently make more than you lose...thereby providing a real and ongoing profit stream whther it's fulltime,supplementary or just as a hobby.

How we define "success" in arriving at that point is entirely a different point of view that has as many answers as their are people giving them.

kind regards

rickyc

 

I totally agree with RickyC. I remember when I first started trading and was off to a great start, and thought I was a natural at this game. My early success led to great arrogance, which soon translated to increasing my lots per trade, and then...let's just say I needed to re-open some demo accounts and get back to the drawing board.

But yeah, the amount of time to reach success is different for everyone. What I suggest is to always have a written trading plan. Don't get caught in your emotions and always stick to the plan. Easier said than done, but your firm discipline will eventually lead you to being able to answer your own question on this board I'm sure!

 

To become a successful in forex, it is when the time you know about discipline, rules, knowing what is your homework and your determination.

I won't give up in forex, threat it as a Master Degree Course. In forex, you won't have to work under people instruction. It is yourself to make it happen.

 

it took me 6 months to become an expert in the forex arena

 

First post, just joined the group, unsubstantiated claim, will you be selling a system or signal in the very near future?

galacticfunds:
it took me 6 months to become an expert in the forex arena
 

in forex, traders can be "successful" for months and years and then loose everything

a lot of "experts" i saw so far actually lost money

probably real experts are hard to find because of "experts" are too loud on forums ...

 

Successful traders are always very silent.

 

LHF Sim

The most important progress I made in forex was when I found the LHF Simulator, it allowed me to test my strategy much more quickly on a variety of currencies and find weaknesses and strengths and to stick to my trade plan (the most difficult skill in forex)... another important discovery was that all indicators which are changing colour in a separate window are useless and to find indicators which informative ON the chart with price movement....

but the best advice is to get your simulator and test your strategies to death and make successful trades again and again, then move to demo or real account..

mike

 

time travel

took me about a year and a half before I started making money.Having siad that if i could talk to myself from a year and a half ago and could get him to make money in little more than a month.

It will take a month for my past self to test the trading system I use now,which is basically mecanical.

 

This depends how long it takes to find a good system or develop a good strategy.

123456
New comment