Community Forex Questions
How much time do I need to become a professional trader?
How much time it takes to become a professional trader depends on a number of factors, including your prior experience, knowledge, and aptitude. However, most professional traders agree that it takes several years to develop the skills and discipline necessary to be successful.
Here is a general overview of the timeline:
6-12 months: This is the time it takes to learn the basics of trading, such as how the markets work, different trading strategies, and risk management. You can learn this through books, online courses, and paper trading.
1-2 years: This is the time it takes to start developing your own trading strategies and backtesting them on historical data. You should also start trading with real money, but on a small scale, so that you can learn from your mistakes without risking too much capital.
2-3 years: This is the time it takes to start becoming consistently profitable. By now, you should have a good understanding of your own trading style and risk tolerance. You may also want to start considering trading full-time.
3+ years: This is the time it takes to become a truly professional trader. By now, you should have a deep understanding of the markets and a proven track record of profitability. You may also want to start managing money for other people or teaching others how to trade.
It is important to note that this is just a general timeline. Some people may become professional traders sooner or later than this, depending on their individual circumstances.
Here is a general overview of the timeline:
6-12 months: This is the time it takes to learn the basics of trading, such as how the markets work, different trading strategies, and risk management. You can learn this through books, online courses, and paper trading.
1-2 years: This is the time it takes to start developing your own trading strategies and backtesting them on historical data. You should also start trading with real money, but on a small scale, so that you can learn from your mistakes without risking too much capital.
2-3 years: This is the time it takes to start becoming consistently profitable. By now, you should have a good understanding of your own trading style and risk tolerance. You may also want to start considering trading full-time.
3+ years: This is the time it takes to become a truly professional trader. By now, you should have a deep understanding of the markets and a proven track record of profitability. You may also want to start managing money for other people or teaching others how to trade.
It is important to note that this is just a general timeline. Some people may become professional traders sooner or later than this, depending on their individual circumstances.
Oct 30, 2023 02:06