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How many years to become profitable?

  • #141
  • Sep 16, 2020 9:13am Sep 16, 2020 9:13am
This question varies from traders to traders. If you have enough knowledge and experience about the market and trading, it will be very easy to become successful in this platform. But with a little knowledge and experience, you can become successful in a long time.
  • #142
  • Sep 17, 2020 2:42am Sep 17, 2020 2:42am
Getting a mentor can help you be profitable from the start. How i did it, had two different people I met teach me how to trade.
Love to talk on Discord: DividendGamer#1324
  • #143
  • Sep 21, 2020 9:58am Sep 21, 2020 9:58am
Yes, there are only good platforms and products with good market prospects, and the help of analysts can be profitable
  • #144
  • Sep 21, 2020 11:26am Sep 21, 2020 11:26am
I was profitable from the start more or less. Made $12k my first two and a half months, pulled out $8k, and have been trading nothing but profits ever since.
Love to talk on Discord: DividendGamer#1324
  • #145
  • Sep 21, 2020 12:56pm Sep 21, 2020 12:56pm
It depends on your trading abilities. If you have enough knowledge and experience about trading, you can become successful in a short time.
  • #146
  • Sep 22, 2020 12:08am Sep 22, 2020 12:08am
Quoting OwenBavin
It depends on your trading abilities. If you have enough knowledge and experience about trading, you can become successful in a short time.
Yeah, it depends a lot from background. If you had previous experience in finance, degree in math or economics then it will be much easier to develop your own trading approach. Decision-making under uncertainty is also very important type of experience, lack of it leads to emotional responses to profit or loss which are often irrational (like closing profitable trade too early and losing trades to late, becoming susceptible to confirmation bias, etc.)
  • #147
  • Sep 22, 2020 12:46am Sep 22, 2020 12:46am
i think timing is not a big deal to become successful , the main deal is to keep survive with great discipline, if you can do it consistently according to me, within 3 years there is a chance to become profitable.
  • #148
  • Sep 25, 2020 2:21pm Sep 25, 2020 2:21pm
It depends on your trading knowledge and experience. If you have enough knowledge, you can get success easily and very early.
  • #149
  • Sep 26, 2020 3:12am Sep 26, 2020 3:12am
How long you will be profitable depends on your knowledge. However, it may take a minimum of 3 years to acquire knowledge. You can read different types of Forex-related books. There are many types of online trading articles that can help you gain knowledge. You can learn a lot from Google.
  • #150
  • Sep 29, 2020 8:54am Sep 29, 2020 8:54am
Depends on what you call as profitable. Even $200 is considered a profit. I think it takes the first 3 years to understand the market and the next 3 years to breakeven what you've lost during the learning phase. If everything goes well, the following years would be when you'd start to make any actual profit.
  • #151
  • Oct 1, 2020 2:27am Oct 1, 2020 2:27am
That number isn't the same for all.
Depends on your passion, your market understanding, trading skills and of course, your knowledge.
  • #152
  • Oct 1, 2020 11:19am Oct 1, 2020 11:19am
I was speaking in general terms. It is true that there are traders who have been trading for a decade or more and still aren't profitable.
  • #153
  • Oct 2, 2020 4:24am Oct 2, 2020 4:24am
It took me three years. Not trading every day during that period though. Without a mentor or proven system, it can take a while to work out one's own. And as you know there's so much wrong or fragmented information available, a beginner could struggle to see what has value etc.
  • #154
  • Oct 26, 2020 7:40pm Oct 26, 2020 7:40pm
I think in 3 to 5 years the trader can become profitable. This time must be spent to acquire knowledge.
  • #155
  • Edited Oct 28, 2020 2:23am Oct 27, 2020 10:15pm | Edited Oct 28, 2020 2:23am
Trading requires patience and for you to become profitable, you will need to allot a few years to master the skills. As others have suggested, give it about 3 years to learn the techniques. Read helpful materials, attend forex seminar, and network with like-minded individuals to name a few.
  • #156
  • Oct 28, 2020 9:44am Oct 28, 2020 9:44am
Quoting DeanLittler
I think in 3 to 5 years the trader can become profitable. This time must be spent to acquire knowledge.
Some people do become profitable earlier than three years, but those people are usually an exception.
  • #157
  • Mar 31, 2024 6:42am Mar 31, 2024 6:42am
It will take at least 5 years. The reality is that unless you have a way to manage risk properly you can basically wipe out your account in one day even after 5 years.
Reaching profitability is not the hard part, the hard part is keeping the money when this turns south.
I belive that is you manage to control your worst days in some mechanica way, then you will be set up for success.

Consider that big loss day can trigger some psychological daemons. If you keep away from scalping and if you just trade on some standard patterns you can make enough money to earn a living. The point is how you are going to manage bad days.
  • #158
  • Apr 1, 2024 10:00am Apr 1, 2024 10:00am
I've been at it for around 5 years and the first like 2 years was me just fooling around and did not take it serious enough... Like many I had to learn the hard way and after I found a solid mentor I became at least a breakeven trader. Then after a few more years of learning and kinda incorporate my own touch to the system and make it more suiteble for me as a person I finally got to the point where I'm profitble. Though i still have to work on my emontionals when trading and that's where I'm at now. So for everyone out there keep hustling you'll get there eventually!
  • #159
  • Apr 2, 2024 2:40pm Apr 2, 2024 2:40pm
Quoting Theo.baaws
I've been at it for around 5 years and the first like 2 years was me just fooling around and did not take it serious enough... Like many I had to learn the hard way and after I found a solid mentor I became at least a breakeven trader. Then after a few more years of learning and kinda incorporate my own touch to the system and make it more suiteble for me as a person I finally got to the point where I'm profitble. Though i still have to work on my emontionals when trading and that's where I'm at now. So for everyone out there keep hustling you'll...
Hi Theo,

I really like your post here, it covers all the important parts one has to master to become profitable in trading.

Best of luck to you all!


C
  • #160
  • Apr 2, 2024 8:51pm Apr 2, 2024 8:51pm
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
I am also new in trading and still in learning process, reading books, taking online courses, and joining forums like ForexFactory, etc.
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