Are you asking the right questions, before starting your trading and investing journey? Please read this article to get this fundamental question answered.
How long does it take to become a profitable forex, futures, and stock trader?
One of the most frequently asked questions we as an online trading academy receive from new traders and investors is the question about how long they need to learn before they become consistently profitable which might seem like a viable question to most. However, speaking as financial market experts, it reflects a great deal how much they need training and guidance.
It is a common knowledge that to get the most from any endeavor you need to focus on the process, not the end result. The reason for this is simple, you get to learn along the way while focusing on the process, and you pick up the valuable lessons while also moving towards the destination.
When you focus on the result while ignoring the present, you miss out on the essential experiences that need to be learned in the process, which makes it hard actually to succeed. To get the right answers, you must first ask the right question, and instead of wondering and asking about how long it takes to become profitable, you should ask these instead:
The right question no1: What steps does a forex, futures, and stock trader need to take to become profitable?
The first thing you should worry about is what steps you have to take to become profitable. This question shows a person who is eager to learn rather than a person who wants to make money. The question about what to do is more practical and useful rather than asking for the timeframe.
The primary reason you must focus on what to do is that the length of time does not matter if you are clueless about what to do. No matter how much time you spend, if you don’t know how to trade and invest in the forex, futures, and stock market properly, you will only lose money instead of making it. The first thing is to learn how to trade and invest in the trading arena correctly and master what works.
Our online trading academy has quite a number of articles on this fundamental question. They will point you in the right direction and help you get the correct answer to the right question.
The right question no2: What are the requirements for being a profitable forex, futures, and stock trader?
This is a question that addresses the necessary mindset and psychology that is needed to be a profitable forex, futures, and stock trader. Trading and investing in the financial market is a solitary activity that requires a lot of mental strength and capacity. A question like this helps you know how to position your mind and align yourself to win rightly. The right mindset will help you a lot in trading because without it, your chances of winning are minimal.
The bitter truth is that not everyone can be a trader and investor in the trading arena, and if you do not carefully examine this point, you would not know if you are a good fit for trading and investing in the forex, futures, and stock market. You need to explore the mental and psychological requirements of being a trader and investor and decide if those qualities are things you possess or are willing to develop before you commit your money to trade and invest. You need to answer questions like this honestly: Am I willing to stay disciplined in the face of constant temptation? Can I endure the mental strain of the market not going my way? Am I patient and diligent enough to follow plans through? These are all questions you need to provide honest and sincere answers to before venturing into trading and investing.
Finally, how long is the process?
At this point, you are probably thinking: “Yes, I understand there are steps, and there is a process to follow but how long will it actually take to do all that you have listed.” We are going to answer you as straightforward and honest as we can because the ugly truth is we all have our different unique abilities. Two people’s ability to master a particular thing cannot be compared, which means there will be a different timeframe for each person.
We understand that you might not be satisfied with our answer and that’s perfectly fine. The actual truth, however, is that whoever is telling you otherwise or giving you a particular timeframe is either trying to deceive you or just plain clueless.
How long it takes you to learn depends on your level of consistency and determination. Not everyone is the same, and our different capabilities influence how long we have to learn. Some learn really fast and can quickly master the principles and Supply and Demand strategy, while others might take a little more time. You might not be “naturally gifted” at trading and investing, and that would mean putting in more effort and time to master all that is needed.
Here are some words of wisdom that should stay with you.
Greed will be your undoing as a forex, futures, and stock trader. Trying to trade like a pig is something that comes from being greedy. Successful traders and investors can be likened to bulls or bears, and these are the set of traders that make money. Pigs get slaughtered because greed will prevent you from making wise decisions. This is a fact that has been around Wall Street for a very long.
How long a journey takes is not as important as how to get to the destination. By being overly focused on how long it will take, you put yourself at the risk of making costly trading mistakes. Trying to focus on the timeframe or how much time is needed will distract you from actually learning the necessary and essential things. The question about how long is coming from a place of greed which will only lead to over-trading, day-trading, and losing money instead of making it.
If you want to learn more about professional trading and investing across multiple asset classes such as forex, futures, and stocks, please sign up HERE for free at our online trading academy www.onlinetradingcampus.com and get access to a free three-hour introductory course.
Author Bio: Bernd Skorupinski teaches the undiluted truth about trading and investing at Online Trading Campus and takes you through what it takes to be a consistently successful trader. His favorite moment as a trading mentor is the way peoples’ eyes light up with excitement and confidence when they understand how Supply and Demand trading strategy works and how it can help win in the trading arena. He believes in building core values and discipline that ensures his students do not succumb to the pressures and temptations of the market. He very much believes in following plans and strategy through. If you want to know more about the author Bernd Skorupinski please read HERE