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How many years to become profitable?

  • #61
  • Jan 3, 2018 10:28am Jan 3, 2018 10:28am
Quoting havo
2 months after demo
Really? I think, then it would be a rare case! By the way, how many months you have been doing your live trading? Are you consistent enough? I am asking these questions because I have never seen any successful Forex trader by only 2 months demo practice! Here I am waiting to know your detail answer!
  • #62
  • Jan 3, 2018 11:13am Jan 3, 2018 11:13am
Quoting LuizGuilher
{quote} Really? I think, then it would be a rare case! By the way, how many months you have been doing your live trading? Are you consistent enough? I am asking these questions because I have never seen any successful Forex trader by only 2 months demo practice! Here I am waiting to know your detail answer!

I think, 2 months is not enough to judge any particular trading strategy!
  • #63
  • Jan 3, 2018 1:34pm Jan 3, 2018 1:34pm
Quoting profitfarmer
{quote} given that the majority fail, doesnt mean one must belong to that majority. find the "right kind" of knowledge, and avoid what the majority seem to be doing, like repeating things they read somewhere, because find comfort in that, like SL cant fail, or trend is your friend, or let the winners ride...you name it..
THIS is the MAIN source and reason why the majority of traders always lose or barely break even !!!

Good point man

Quoting LuizGuilher
{quote} Really? I think, then it would be a rare case! By the way, how many months you have been doing your live trading? Are you consistent enough? I am asking these questions because I have never seen any successful Forex trader by only 2 months demo practice! Here I am waiting to know your detail answer!
Well.. in fact it took me like 5 months LIVE.. BUT that was before i dumped all the "knowledge" crap pasted all over the internet; once i was in the right path i became profitable, that was a couple years ago.

and I live from this, i have no other income and i also support my parents (getting older, need to take some medication, etc), their house and mine; my country its a shit hole economy wise so failure its NOT an option for me !!

the 2 month part its based on MY actual "method" and 3 other people i teached how to trade from zero; 2 live from this and the other its doing the transition to full time (he have less time to practice so its going "slower" for him)

Quoting DarrenLehma
{quote} I think, 2 months is not enough to judge any particular trading strategy!
couple years LIVE and living full time with this income.. its proven and tested, at least for me
  • #64
  • Jan 3, 2018 2:13pm Jan 3, 2018 2:13pm
it takes 10000 hours to become a pro

thats about 3 years of full time trading; doing 12 hours a day of screen time
  • #65
  • Jan 3, 2018 6:03pm Jan 3, 2018 6:03pm
Quoting alphadude
it takes 10000 hours to become a pro thats about 3 years of full time trading; doing 12 hours a day of screen time
3 years full time. 12 hours a day.

That's about it !

if you're doing it part time 3 hours a day, maybe 5-10years.
...
  • #66
  • Jan 3, 2018 11:26pm Jan 3, 2018 11:26pm
Quoting spank
I'm a newbie and just like to know on avarage how many months/years of exprience did you guys get to be come profitable month after month? and what kind of meterials/book did you read? took any classes? thanks
Started in 2006. Blew 2 accounts during the 6th year. Made my first 100% return in 2013. Bored and slow. Made 80% in Jan 2014. Blew 2 more accounts in in mid 2014.

Blew 2 more in 2017. Still trying. Lol.
You're going to pay a price for every bloody thing you do and don't do
  • #67
  • Jan 4, 2018 9:28am Jan 4, 2018 9:28am
Quoting profitfarmer
{quote} given that the majority fail, doesnt mean one must belong to that majority. find the "right kind" of knowledge, and avoid what the majority seem to be doing, like repeating things they read somewhere, because find comfort in that, like SL cant fail, or trend is your friend, or let the winners ride...you name it. without a good starting capital, the chances are also very dull. the real disheartening is to see one's 200$ account blow up numerous time, vs. maybe starting with a 2000$ account could postpone that, greatly. but indeed, it may...
Thank you for the encouraging words. I am aware of some of that, at least, sometimes I just struggle with my own pessimism.
  • #68
  • Jan 8, 2018 5:18am Jan 8, 2018 5:18am
Quoting havo
{quote} THIS is the MAIN source and reason why the majority of traders always lose or barely break even !!! Good point man {quote} Well.. in fact it took me like 5 months LIVE.. BUT that was before i dumped all the "knowledge" crap pasted all over the internet; once i was in the right path i became profitable, that was a couple years ago. and I live from this, i have no other income and i also support my parents (getting older, need to take some medication, etc), their house and mine; my country its a shit hole economy wise so failure its NOT an...
Well; congratulations for your success! But, I think you are so quick! Because, you have less than 1 year experience with your strategy and now you have already started to mentor others! By the way, I am really interested to know more about your trading strategy! If there is no issue; I hope you’ll share more info about your trading system; at least the name of your strategy!
  • #69
  • Jan 8, 2018 7:53am Jan 8, 2018 7:53am
Quoting LuizGuilher
{quote} Well; congratulations for your success! But, I think you are so quick! Because, you have less than 1 year experience with your strategy and now you have already started to mentor others! By the way, I am really interested to know more about your trading strategy! If there is no issue; I hope you’ll share more info about your trading system; at least the name of your strategy!
2 years and a couple months trading for a living in different markets and conditions.. its proven, at least for me (btw if i dont end positive, i dont eat or pay bills, its my only income)
  • #70
  • Jan 8, 2018 3:54pm Jan 8, 2018 3:54pm
Forex is terribly easy. All you need is a modestly profitable trading system while showing no mercy to your losses by having a robust risk/loss management system.


The hard part is, of course, tricking yourself into being a brand new person when you trade. Habits are nearly impossible things to kill.
  • #71
  • Jan 9, 2018 9:42am Jan 9, 2018 9:42am
Quoting raklian
Forex is terribly easy. All you need is a modestly profitable trading system while showing no mercy to your losses by having a robust risk/loss management system. The hard part is, of course, tricking yourself into being a brand new person when you trade. Habits are nearly impossible things to kill.
It sounds easy in theory, but in practice it usually isn't. If it were 95% of traders wouldn't be losing money.
  • #72
  • Jan 9, 2018 12:04pm Jan 9, 2018 12:04pm
Quoting raklian
Forex is terribly easy. All you need is a modestly profitable trading system while showing no mercy to your losses by having a robust risk/loss management system. The hard part is, of course, tricking yourself into being a brand new person when you trade. Habits are nearly impossible things to kill.
it is easy to open a restaurant business; all you have to do; rent a place, buy some tables, a cooktop, a gas cylinder; vegies, meat, and off you go; cook and sell.

how easy can it be?

however; 95% of restaurants fail in the first year; and close shop!
  • #73
  • Jan 10, 2018 9:47am Jan 10, 2018 9:47am
Quoting alphadude
{quote} it is easy to open a restaurant business; all you have to do; rent a place, buy some tables, a cooktop, a gas cylinder; vegies, meat, and off you go; cook and sell. how easy can it be? however; 95% of restaurants fail in the first year; and close shop!
That was my point exactly. A successful business always looks busy on the surface to people on the outside who don't know just how much time, stress, effort and often money have been invested in it to make it work.
  • #74
  • Jan 10, 2018 10:03am Jan 10, 2018 10:03am
Quoting alphadude
it takes 10000 hours to become a pro thats about 3 years of full time trading; doing 12 hours a day of screen time
It’s a good plan! Learning is a long time process; in my 1st 2 years I was a loser! Then gradually I have improved my trading equity.
  • #75
  • Jan 11, 2018 10:23am Jan 11, 2018 10:23am
Quoting DarrenLehma
{quote} It’s a good plan! Learning is a long time process; in my 1st 2 years I was a loser! Then gradually I have improved my trading equity.
For how long have you been trading in total? And how long did it take before you noticed any improvement?
  • #76
  • Jan 11, 2018 11:10pm Jan 11, 2018 11:10pm
Quoting spank
I'm a newbie and just like to know on avarage how many months/years of exprience did you guys get to be come profitable month after month? and what kind of meterials/book did you read? took any classes? thanks
You have to look at trading like a trade ie [ carpentry, electrician, boilermaker ] it takes approximately 4 to 5 years to complete your trade, and even then that just gives you the piece of paper to say you know the basics and are competent, it doesn't mean you have masted it , there are a lot of little things you must master to become a successful trader, one of those little things is discipline and very few will pass this critical exam, to have solid diciplane is to master it in every area of your life, you cant lack diciplane out side of trading and expect to turn it on when it is time to trade, you either have it or you dont, and without it your screwed, so how long dose it take you ask, I would ask how hungry are you to change your life ? How much fight are you willing to release from deep inside you to say to yourself - This is it ,it all changes for me right here right now.GW
IMPROVISE ADAPT OVERCOME
  • #77
  • Jan 12, 2018 2:56am Jan 12, 2018 2:56am
Attached Image
IMPROVISE ADAPT OVERCOME
  • #78
  • Jan 12, 2018 4:56am Jan 12, 2018 4:56am
Quoting Ghost Walker
{image}
So true; very inspiring! This is way, when I was a new Forex trader I always focused on my learning process not on my trading result; yes as like others new traders I also lost my trading capital for many times; but I didn’t count it!
  • #79
  • Jan 12, 2018 6:57am Jan 12, 2018 6:57am
Quoting Ghost Walker
{image}
This is a very inspirational image. However, at some point one has to wonder whether the child learning to walk is falling because they are still learning or because they need medical help.
  • #80
  • Jan 12, 2018 9:31am Jan 12, 2018 9:31am
why people still talk about YEARS?? wtf?!?!

i know people learn at different pace BUT if it takes YEARS to understand and become profitable you are doing it wrong from the start !!
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