At the time of starting to trade, the majority of the people have a curiosity about some particular thing. “How long does it take to be a profitable trader” is one of the issues which will prevail in your subconscious mind?
This is one of the most common question asked by the novice traders. After you start trading you will find out that knowledge and skill is the most important element to be profitable.
If you are aiming for a certain goal without not planning or thinking about the problem you have to face, you will not be able to learn much. This is applicable to every profession.
If you don’t set up your goal, you will be distracted from your work from time to time. So the question “How long does it take to be a profitable trader” is irrelevant.
Your priority should not be time than about the experience and skill.
Let’s talk about it in the following discussion.
Nature of the curious person
Be practical in the action you are taking. Whether in your work or in asking a question. So, the ‘more’ practical question should be “What a trader needs to do to be a profitable trader?” This one is far better than the first one.
Because you cannot estimate the actual time without knowing how things work in trading. You have to learn first how to trade and understand what condition is the market is in at an instant.
Is the trend going up or going down, what is the key swing etc. you have to study these things to understand how to make a profit. Then you know all by yourself how much time will it take you to be a profitable trader?
You need to use the demo trading account for the first few months to learn about this market. Demo trading accounts will give you the perfect environment to learn from your mistakes.
You don’t need to learn rocket science to become a profitable trader. Just follow your strategy and trade the market with discipline. If required, stay in the sideline for weeks but never trade the market without having a clear trade setup.
There are a number of bloggers who will agree with the same message this article is delivering. You will also find many of the professional trader’s blog carrying the same ideas.
Things you need to take care
The most burning question in the retail trading industry is “What does it take to become a profitable trader?” This question indicates that you need to have the passion to be a trader.
In an easier way, it shows that you are willing to give anything required to be a profitable trader. This type of mindset helps a lot in professional work. Your brain will push yourself when you are feeling low.
Remember, not every human being is the same. Everyone has a different mentality and perspective about the things around them.
So, they cannot deliver the same performance in the Forex market. Their understanding of the chart should not be the same.so they would need different times to become a profitable trader.
Here the second question comes into action. If you can show that you can do what it takes to be a professional trader and do as so, your time will be less than others for sure.
You need to understand how this market works. It will create a bad impression on yourself and others. If you have learned the things discussed in this article, you will have a clear answer to the question mentioned in the first.
So, aim for the skill and experience required to be a pro (both professional and profitable) instead of the money.
Becoming a successful trader is very easy provided that you know the perfect way to deal with your trades. You have to work really hard and train your mind to deal with the losing trades.