Most common question beginning traders ask is »how long does it take to be a successful trader?«It’s very normal and obvious question, that requires more knowledge and training from more experienced tradersThe thing is that trading is quite similar to life. If you pay to much attention on the final destination (profitable trading) and forget to enjoy the journey you can quickly lose sight of what is important. The question itself is actually the wrong one to ask yourself but if you read on I can show you the right questions and give you answers to them.
What does a trader NEED TO DO to become successful?
That is in fact the first and most important question you should be asking. It’s more practical and the answer more useful than the title of the article.
First thing you need to figure out is HOW to become a profitable trader. If you don’t make smart decisions on the market, you won’t make money trading it. And because of that you first need to learn how to trade properly.
I have a number of articles that get into the topic of learning how to trade properly so please follow the following links to get more information on the answer to this all-important question…
What does it take to become a successful trader
That’s the next question in line you should be asking. Here the focus is more on mental/psychological part of trading. It’s point is that without the proper trading mindset, your chance for success is almost at zero.
First of all you need to understand that not everyone has what it takes to be a trader, so before you start putting all your savings out you need to be decide if you are a good fit. You need to answer to yourself honestly if you can stay disciplined no matter how big the temptation? Can you be patient, when all you want to do is risk everything? Are you ready to accept the fact that the market does not care about you and your desires?
How long does it take?
I can almost hear your wheels spinning while you think » ok, all well and good, but how long will it take me to achieve the main goal, to become a profitable trader?« The best answer I can give is that is all up to you, because it all depends in each person’s unique ability.
That’s probably not the answer you have been looking for, but it’s the only truth, everything else people may tell you is because they are clueless or want to scam you.
So as i said, it all depends entirely on YOU. Some people may simply understand and learn faster my trading concepts that i teach in my Elite trading course. Some people are simply born with a brain for this kind of thing. But that should not stop you. Maybe you will need more time and study, but your chances for success are even.
Final words of wisdom for this article
Greed will lead you nowhere, only to lose money.
Headlight question of this article is the one that will hold you back most and will prevent you from growing and success.
In the end this question can lead you only to greed. When you keep your mind on questions like »when will i become profitable« you make trading mistakes like trading too frequently and risking to much at once.
Consequences are losing money and with every loss you are step further from your goal of becoming profitable. So too much focus on the destination will cause only losing money, but if you focus on the journey of learning how to trade properly, than you are on the road to become a profitable trader. How long it takes should become irrelevant to you.