I don't think there is a fixed answer that you can give to this question. You can ask this question for anything, like how much time does it take to learn programming, how much time does it take to become good at a certain sports, how much time does it take to get rid of fat and the examples can continue forever. You need to put in the work and eventually you will find out how much time does it take. It's different for everyone, because some learn more easily than others, some are more motivated, some are less stressed so their brain works different while learning and they learn faster. There are numerous things you can take into consideration and that's why there is no fixed time for everyone. For some people it takes just a couple months to be good at trading on forex while others have been doing it for years and are still not good
How Much Time Should I Invest In To Get Good In Forex Trading
- Thread starter moonchild
- Start date
I agree with the OP. I think atleast one year is required for a trader to learn forex trading before he enters into a live trading account. In my experience, it is good to dedicate 6 months to learning about forex trading, all the strategies, theories, chart patterns, etc. And then, I believe it is extremely necessary to practise on a demo account. This, I believe, should be done for a minimum of 6 months. Demo trading is very important. It will give a newbie, a money/risk - free exposure to the forex market and how it works. Here in a demo account, a newbie can practically apply all that he has learnt, learn backtesting methods, and make his own strategies.
tray59
Active member
I dont really agree with you even in forex there is a specific time which someone can learn forex for instant when I first started I my broker enlighten me that I can stay in the demo account for about 6months and I beleive that I do that perfectly.
If you want to trade in the forex market and make some money its better you spend some quality time learning how to make some excellent trade and know much about both fundamental and technical analysis.
The more analysis you make the better your chance for you to win.
So I do beleive that when you start making money purchase some expensive system that can help you trade well.
HeavLeighGill
Active member
I agree that the answer is subjective. Some learn more quickly and put a lot more time into learning daily, whereas others might learn more slowly or only spend a little bit of time each week learning, so it will naturally take longer for them.
Palaeophile
New member
It entirely depends on how quickly you grasp the information to be able to apply it to reach your desired goal. When traders understand the market dynamic, it gets easier to dodge risk and apply risk management strategies to control and minimise risk as much as possible. Risk is unavoidable and traders should be able to know how to function in tense situations. Take all the time you need to learn, practice on a demo account and then switch to live as you gain confidence.
cashisking149
Active member
And how many people out there can even dedicate half of this to learning forex around a job, real life, a family etc? Plus this doesn't take into account different educational vehicles and learning speeds. The fact of the matter is putting a time limit on it is totally pointless. What matters is the end goal. Let that take as long as it takes.
If you want to become good at forex trading, you should invest at least 5 hours a day in it. This may seem like a lot of time, but if you want to be successful at forex trading, you need to be dedicated to it.
Make sure to practice your trading skills by using a demo account before you risk any real money. This will allow you to get a feel for how the forex market works and how to make trades without any risk. Once you feel comfortable with your trading skills, you can then start to trade with real money.
Remember, becoming good at forex trading takes time and dedication. If you are willing to put in the time and effort, you can be successful at it.
Make sure to practice your trading skills by using a demo account before you risk any real money. This will allow you to get a feel for how the forex market works and how to make trades without any risk. Once you feel comfortable with your trading skills, you can then start to trade with real money.
Remember, becoming good at forex trading takes time and dedication. If you are willing to put in the time and effort, you can be successful at it.
When you have decided to become a forex trader, you must not be concerned about the time you spend on your learning. What you must be worried about is that you don’t miss an important lesson that may come up as a challenge for you. Let me clearly tell you that forex trading is tough and you will do well only if you know what you are doing.
It all depends on the skills of the individual. You must devote a lot of time to mastering forex in order to understand market patterns and become an effective trader. You must be committed and have the ability to accept some losses if you want to become a successful trader.
Gastrolatry
New member
You are free to take your time and learn each and everything about the market. Everyone learns at a different pace. Although there is no exact timeline for the same.
Don’t study for a specific time as others may suggest. There is no surety that you will need the same amount of time to get ready for live trading. You may either waste your time or need more time if you follow what others tell you. Simply stick to your learning process and do it for as long as all the concepts are not cleared.
If I have to be honest, it takes a while to get accustomed to the market terms and conditions. Trading in such a volatile environment will get overwhelming so try to stay calm and make the right choices. Depending on how quick of a learner you are, that’s the amount of time you need. Get to know the market so you stick with it longer.
Like OP said, 6 months is a good time period and you can learn a lot of things about forex and along with demo trading. But it will vary based on your learning ability as well. And even after that we have to continue learning to level up our skills as a forex trader in the long run.
Hylotomous
New member
Kamala Hooper
New member
If you find your results satisfactory and you're able to stick to your trading plan, then you can continue trading. However, if you find that you're struggling to make consistent profits, then you may need to invest more time in learning about the market and developing your trading strategy.
If a trader is able to produce steady earnings, I believe he or she might consider themselves to be profitable traders. It can require three to five years of practice for that. Despite the fact that there are now many different learning resources available, profitable trading is still difficult. How effectively you invest your time and resources in learning will determine your success.
