It really difficult to answer with surely. It depends on traders and his learning and practice activates. If he studies with great patience and practice in a proper way , within 2-3 year he can be a successful trader.
Time it takes to be a Successful Forex trader 176 replies
Is it easier to become a Nobel winner than a successful trader 13 replies
Does going to an Ivy League help you become a good trader 53 replies
How many pips does a "successful" trader collect weekly? 140 replies
How to Become a Successful Forex Trader 36 replies
DislikedIt really difficult to answer with surely. It depends on traders and his learning and practice activates. If he studies with great patience and practice in a proper way , within 2-3 year he can be a successful trader.Ignored
Disliked{quote} Some people study and practice for longer than that and they still don't succeed. It's very subjective, unfortunately.Ignored
Disliked{quote} It can be . but I have not seen this type in my trading career. If anyone studies Forex market with practice, hopefully he will get maximal result by trading.Ignored
DislikedLearn all the basics and start playing as much demo accounts you can just like its real money. Follow the news and the flow and remember that the market is never guilty about anything. Accept the market the way it is and spend as much time as you can playing the demos. Its just another game so the more you play by its rules the better you get. Different people takes different amount of time , but the more dedicated you are the faster you get there. Just my 2 cents.Ignored
DislikedI thinking about losses like the fuel which we need to drive to work. It's like cost of our profit.Ignored
DislikedWhen thinking about trading for a living an important factor that people don't often think about is what standard of living we are talking about. If you have low living overhead as in no car payments, no mortgage, no family to support, you can wing it and trade for a living with less capital a lot easier than someone who has all of these high overhead costs. That way you can still spend less than you earn, and live and grow your account simultaneously. On the other hand, most expect replace their day job or make 10's of thousands of dollars a month...Ignored
Disliked{quote} I like your post, especially the last sentence. Lets focus on being frugal. If you live in a small flat and survive eating frozen pizza, you would still need something about 500 $ per month. Maybe even more. If you have no other income it hast to be a 50k, better 100k account to achieve that. If you have a 10k account, that would be more than 7 % profit/month ( 700$ minus taxes ~ 500$). Yearly profit would be ~85%. I dont think that is realistic in the long runIgnored
Disliked{quote} It all depends. It's highly depend two things. 1. How low your cost of living can be 2. What kind of skill/style you have as a trader. For example, let's use your $500 per month example with a 10k account example and I will use a swing trader in my first example. Let's say swing trader A makes a 10% average monthly return, which is realistic because that's what I use to make as a part time swing trader while holding down a full time job. That's about $1000/month. That is enough to cover his monthly bills of $500/month, pay his taxes and...Ignored