How Much Time Should I Invest In To Get Good In Forex Trading

[moonchild]

The only time that separate the average forex trader and an excellent forex trader is the time they put in to practicing and how much of priority they give their trading career.

I've said it before that you can become a proficient trader by trading part time is basically a waste of time because trading requires investing all the time you got to understanding the market and experimenting with different tools and strategy till you find the one that works for you and then keep on tweaking it till you achieve a successful system that prints money for you.

This doesn't sound like what you can do by participating part time, you have to do it constantly over time to get a hang of it.

As a beginner I think dedicating ten hours a day for a period of six months straight can give you an edge and can set you up for life.

Something that you should keep on you mind is that the moment you become proficient in Forex Trading, it is with you forever no one can take it from you.

So, if a beginner can dedicate six month of his life and learn then I think it's enough to get a hang of it.

 

[Jack Reacher]

It depends on your concentration level. But honestly, it takes such a long time to learn Forex trading! I spent almost 15 months in demo; as a newbie I tried to make a consistent trading system! I used more than 55 trading strategies in there, but currently I am using only the Price Action trading strategy in my trading! Of course, my demo trading strategy helps me a lot!

 

[Sotherefore]

It's would only depends on you and your level of dedication , but this trading of a thing is not really something that you have to dedicate a whole year before you become a total expert , but sometimes if you are interested to be able to predict the forex market effectively , your expert might asked that you pay some money to learn how to trade on your own without having to depend on people. That is always the most challenging factors to so many people.

The most important thing you have to do is to try as much as possible to get people that can train you on how to predict the volatile market because there are so many people out there who parade themselves as forex trader without even having understanding of the technical and fundamental analysis skills needed to predict the market effectively.

Learning from such people is just a waste of time because at the end of the day you won't just be able to get anything compared to the time and the resources you have wasted to achieve your goal. The person should be able to generate signal with at least 80% accuracy for a start.

 

[Bookwormlux]

The obvious part is the fact that you have to do so much before being able to learn everything that is expected of you to do before starting to make significant progress in forex trading .

That it consumes a lot of time does not necessarily mean that individuals have to discourage themselves from ever getting to start at all .

The first is that nothing good comes easily and you have to take so much time to learn it , so that you don't just go about doing trial-and-error and losing high amount of money when you are not even making any profit yet .

A friend of mine has started forex trading for more than 1 month now ,and he is continuously getting involved in it to make sure that he doesn't lose out .

I believe that the time spent is not really what matters , but how you are able to take your time and dedicate to make sure you are making the most out of whatever it is that you are being so you won't regret in the end .

A lot of people just rush the learning process , and this is what makes it difficult for them to realise good profit .

 

[Tahir4]

I think you should invest most of your time in price action you will get the hang of it

 

[glabella]

The time period varies from trader to trader. But imo, trading is a continuous path and you never stop learning. Since there is no holy grail in trading, you have to continuously test and search for different strategies to become profitable. Also, it is not just technical skills that you have to take care of. There is a whole array of trading skills, such as trading psychology and money management. These skills are practical skills, which requires continuous attention and work.

 

[waldgrave]

It totally depends on the individual's skills. To be good in forex trading, you need to invest a lot of time in learning forex to grasp the market trends and to build expertise in it.To become a good trader, you need to be dedicated and you should be able to take some losses too.

 

[Hydrogenic]

As such, you don’t get to give any fixed hours to get good at forex trading. It is very practical that the more you give time to learning something, the better you become at it. And this is what works with trading as well. Your understanding of the market gets better with time and consistency.

 

[Ithedicious]

I don't know how you are really interested to be investing your time , but I believe the most important thing you have to put into consideration when thinking of learning about forex is just how you are going to learn about it because that is what will determine your possibility of succeeding.

If you are to learn about it from people with better understanding then probably they will tell you how long it will take you to master the art of trading profitably on your own and it will be left for you to decide if you have the time needed to focus and learn it to your best understanding.

The reason why I am saying that it will depend on your mentor is because if you are to learn it on your own , it might take a very long time for you to be able to master the art of trading profitably without losing.

You will need someone to guide you on certain things especially on how to identify good and dangerous market by looking at their candlestick and so on.

At the end of the day , if you have dedicated your time to learn and understand everything you can be able to predict the market nicely.

 

[Ivo Zetticci]

It’s not the matter of learning rather than that it’s a matter of learning. It’s depends on a person’s capacity how quickly he or she can learn about trading. Besides earning knowledge theoretically, traders should keep practicing in demo account, which is rarely seen among traders.

 

[quindene]

It all depends on how much time you can devote to it. If you're serious about it then trading for a couple of hours a day would be a good start. The same as anything else, you will get better with practice. However, you need only to start off doing a bit of reading to get the basics down, and then start practicing with a demo account first, before you begin with live trading.

 

[Feeble]

This depends on how hard you work and your commitment. If you are a beginner, expect it to take some time to get good at the game. However, if you are diligent, I believe that you can start seeing significant results in just 6 months. You must be aware however, that it will take awhile before you can make enough money.

 

[Tahir4]

It totally depends on you? The amount of time you spent backtestting and your skill that what matters

 

[Torsade]

There is no perfect answer to this. Your learning capability, trading skills, and risk management strategies have a role to play in this.

 

[tetramorium]

The more time you invest in trading and learning, the better it is for you. You can start from a couple of hours in the beginning and can extend upto your desire. It’s never about how much time you invest, it’s always how much you learn during that hour. To be a good trader it’s necessary to be patient and fully dedicated as well.

 

[CrozeGrog]

There is no exact time limit for getting good at forex trading. Perfection comes through trial and error. You get better at trading with time. Keep learning and applying.

 

[Fartsdump]

Too much of anything is bad! You should not spend too much time on one thing, but there is no need to spend too little time either.
I think if it has been more than a year for you trading on the demo it may delay the development process of trading psychology while trading live.

 

[Diapason]

Don’t think of the time you invest in your learning. Instead, think of the lessons that you take and memorise. You may say that you took 6 months to learn but when it comes to making money in the live market, the person who spent a year might make more than you. It’s the knowledge you gain that matters and not the time you take.

 

[Suba]

In fact, there are several factors from within the person himself, which will affect the length of time or not to learn forex trading, such as thinking skills, education, macroeconomic knowledge, etc. But perseverance and discipline of study and practice will make it faster to master forex trading. it's better for novices not to learn forex from Youtube or sites that are widely spread out there, because most of them present in pieces, so it will be more difficult to understand, so you should learn forex trading on courses in your city or online, because you will learn thoroughly from zero to advanced level. often follow forex webinars, and consult with seniors if you have problems. To reach the advanced level on average it takes about 2 years.

 

[Brijesh Mckee]

A minimum of one year is required to develop an understanding of the market and come up with your winning strategy. This would include obtaining the basic forex knowledge and demo trading to find the best trading strategy. There are different levels of learning and you will have to go through all of them to come out as a good forex trader.