How long did it take you to become a **consistently** profitable trader?

Discussion in 'Professional Trading' started by Iwilldoit, Jul 25, 2015.

  1. Hi everyone,so the age old question: How long does it take on average for an individual to become a consistently profitable trader?

    I decided to create this thread as a study I am conducting in the ET community with the goal of gaining the following information:1.How many profitable traders there are on here2. more importantly how long it took them to become profitable 3. How many hours a week did they spend on trading/backtesting

    In the interests of the entire community, we would appreciate honest answers and input (although I am sure there will be some dishonesty)

    So here are the questions I would like profitable traders to answer:Have you been consistently profitable over the past year?

    1.How many years/months did it take you to become a profitable trader?

    2.During the first six months of your trading career, How many hours a week did you devote to your new business?

    Thank You.
     
  2. i960

    i960

    Surely this question has already been asked? Look below. Observe. Search.
     
  3. rmorse

    rmorse Sponsor

    -6 months
    -while I was a wake, except weekends, I was learning.
     
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  4. JTrades

    JTrades

    Yes, but thin on credible answers.

    It digresses from there...

    How long B4 Bcoming profitable consistently?

    Entertainment only.
     
  5. Redneck

    Redneck

    OP

    Answering your question won't serve any purpose - best way to find out is simply jump in and pop your cherry


    Few things to consider prior to the plunge

    Once you say I do

    Expect to spend about 10 years learning your prospective bride's habits

    Expect to spend a few years learning yourself

    Once hitched - the works begins..., and never really relents unless you quit..., or retire

    Plan to spend the majority of your waking hours waiting hand and foot on your beloved bride - least for the first few years

    Then..., and only then - will she begin to support you..., even then - she will at times..., be such a flicked bitch

    Also..., you must expect to change - in order to meet her needs - long before she'll even/ ever consider meeting yours


    Great gig if you can do it...., most torturous hell imaginable if you can't..., even the getting there can (and likely will) - be hell beyond words

    ================

    Doubt you understand a bit of what I'm saying..., also doubt you believe the work..., commitment..., and sacrifice necessary

    But what the hell..., at least you can't say I didn't warn Ya

    Successful Journey to You Sir

    RN
     
    Last edited: Jul 25, 2015
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  6. i960

    i960

    Haha yep - like 4+ pages of 2 dudes going back and forth with each other. Too bad it didn't hit full retard with a random 12 paragraph peyote driven mind dump from jack hershey.
     
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  7. 16 years. I have been consistently profitable in Forex trading for about a year and a half now
     
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  8. Autodidact

    Autodidact

    You are asking in the wrong site.
     
  9. JTrades

    JTrades

    Unable to answer this for certain. At least 5 years of part time study and practice.

    --

    I can say though, that...

    The journey was at first an ascent up an apparently modest hill, which I assumed I'd be more than capable of scaling.

    I approached what I thought was the crest, only to realize there was a higher crest in the distance beyond.

    And you can guess what happened as I approached that apparent [second] crest. Yep, I'd totally underestimated the enormity of the task and still do not know to this day exactly where the summit is or how far.

    The path up is neither straight forward nor direct. There are dead-ends and unscalable sheer faces, so setbacks will likely occur. The weather can set in and it's best during these times to make camp for the night and rest until the next day. The sun does shine from time to time and looking back down the path does reveal how far one has climbed.

    There are others making the same journey. Upon hearing only their voices, it's not clear how far they have advanced. The gales and craggy rock faces distort their sounds, but sometimes wisdom is gained and mistakes avoided by listening. And those on the lower faces can be of aid to those still residing in foothills.

    Some good folk holla down from the top with helpful advice and hints as to the route and how to go about scaling the, now apparent vast mountain. Their perspectives are different to ours and there's only so much they can do to help. They'd perhaps throw down a rope if there was one long enough or if they even knew where we were.

    We all have to take our own unique paths. Some take much longer paths than others. Some die on the face, some fall off, some are swept away by avalanches, some make it only to the foothills, some quit on the final crest before the summit. And then... there are the ones who make it all the way, who experience the panoramic views, who can see far and beyond, who understand the structure of the mountain for what it is, who can see the weather forming from above and the landscape all around. They don't know everything there is to know (and there are still unseen faces to explore), but they know enough and have acquired the sure-footed qualities necessary to remain atop the mountain.

    Time to dig a snow hole. The ascent continues Monday. Is that the summit I see...
     
    Last edited: Jul 25, 2015
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  10. Handle123

    Handle123

    Seven years of losing in day trading and $112,000 losses, 5 years in long term commodities and $105,000, I was lazy and too much smart and Ego and thereby dumb as I didn't want to learn how to program. Maxed out often times on credit cards and bank loans/used real estate as collateral, but I always believed in myself as I never failed in any other businesses of my life. I was lucky when I started in stocks late 70s, commissions very high, so you just stayed in longer. I was working full time jobs and school, and screen time at least 60 hours and more many weeks. I never worked in finance while I was learning but after I learned to trade, ventured into that side of business, and never could stand working for the public or for that matter other people. I do wish I never ventured into commodities at all and stayed with stocks long term only, you simple spend much less time doing long term, have a life outside of trading. I still put in many hours of back testing to stay on top of the game. And no, I never recommend anyone to learn how to day trend, it has gotten to become incredible tougher of "You against their program trading", you have to figure out how to tail coat "them" to pick up a consistent way of profiting.
     
    #10     Jul 25, 2015