Forex Forums | ForexLasers.com


Go Back   Forex Lasers Forum > FOREX TRAINING > Forex Articles


How Long Will it Take Before I Can Expect Consistency?

Forex Articles


Reply
 
LinkBack Thread Tools Search this Thread
  #1  
Old 22-12-2017, 15:24
Moderator
 
Join Date: Mar 2014
Posts: 979
Default How Long Will it Take Before I Can Expect Consistency?

We understand that this is a perfectly natural question, especially for newer traders. Unfortunately, it is difficult to answer. To a degree, we believe it depends on the person who is doing the asking. With that in mind, let's have a look at some of the key points relating to this subject…

Time

Learning to trade the markets requires a substantial time investment. Do not underestimate this.

One trader may have three hours each day that they're able to devote to the charts, while another may only have an hour. The more time you invest, the quicker you're likely to see results. However, it does not always work out this way. Having a mentor with a proven track record will highly likely help speed up this process.

Using your time effectively is also key. Spending thirty minutes reading about some trader whine and bitch about how trading is not possible is NOT effective time management. Focus on learning methods that have stood the test of time. Of course, this will take some research, but it's time very well spent if you ask us.

Having the right mindset

Having the right mindset for trading takes time to develop. Trading is an incredibly solitary venture, and without the correct psychology you'll find trading terribly frustrating and will likely fail to ever make consistent profits.

Before you invest time in this venture, it's wise to consider whether trading is a good fit, as this business really is unlike any other. Mull over the following questions and try to give yourself honest answers:

1. When every bone in your body is telling you not to be, can you demonstrate patience?
2. Are you usually a disciplined person? There's constant temptation in the market. So, having the discipline to stick to a trading plan is paramount.
3. Can you handle losing money? This may seem a stupid question since let's be honest there are few individuals on the planet who enjoy losing money. Nonetheless, when operating in the markets, losses are a part of the business. Expecting each and every trade to be a winner is NOT something you can do. Well, you can, but it will likely end with you going insane and throwing your monitor out of the window. This is where thinking in probabilities helps a lot!

So much to consider

Everyone is unique and learns at different rates. With this, we believe it is almost impossible to definitively answer how long it'll take for any one person to reach consistency. Anyone who is telling you otherwise is either trying to lure you into buying something, or, quite frankly, doesn't know what they're talking about.

Therefore, the best answer to this question, in our opinion, is quite simply: 'it depends'. 'Depends on what?' We hear you asking. Well, many things… For example, some people are just better wired to deal with the stresses of trading. Being a naturally patient and disciplined individual is going to benefit you in your trading journey. Someone who rushes into things and lacks discipline may find trading a challenging endeavour. That doesn't mean that those who struggle will not become consistently profitable traders, it just means that it might take a little more time.

In closing…

Let's keep in mind that trading, at least in our opinion, has no destination. There is no finish line here! It is actually a continual learning process.

With that in mind, especially in the earlier stages of one's journey, focusing more on the PROCESS of trading, rather than the result is advisable. If the process is correct, the results will undoubtedly follow.

Learning to trade the markets is an incredibly difficult feat to accomplish. Friends of ours who have traded the market for many years reported that, on average, it took them over 7 years to reach a level they were satisfied with. Of course, this doesn't mean that it will take you that long!
Reply With Quote
  #2  
Old 27-12-2017, 19:33
Level IV Lasers Member
 
Join Date: Jun 2015
Posts: 122
Default Re: How Long Will it Take Before I Can Expect Consistency?

Everyone is different, so some might be able to achieve consistent profits pretty fast, but there are people who might not be able to do it. This is why it is all about individual. I am making profits consistently, but I feel I can get better. It took me 2-3 years to get into this position, I am grateful to FreshForex. They have always being my primary partner!
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Long-term profitable EAs JohnLivermore1 Software / Signals / Services 0 13-11-2017 17:18
Becoming a Better Trader: How to Build Consistency ForexArticles Forex Articles 0 06-10-2017 16:15
FOREX WILL GET YOU AHEAD IN THE LONG RUN ForexArticles Forex Articles 0 13-11-2015 16:29
How long are positions maintained? Nirmala Forex Discussion 11 01-12-2014 11:07
Long Term Profits in FX?? pippimp Forex Discussion 13 20-02-2013 09:08


All times are GMT. The time now is 10:29.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2019, vBulletin Solutions, Inc.