how long does it take?

Discussion in 'Trading' started by hype, Mar 31, 2004.

  1. hype

    hype

    How long should it take to become a profitable stock daytrader? I am aware this is a broad question, just looking for some insight. Thank you in advance
     
  2. Depends on whether you do it full-time or part-time, but I'd guess anywhere from 1 to 3 years.

    -Fast
     
  3. hype

    hype

    thanks full time job daily.
     
  4. rwk

    rwk

    Some market conditions are friendly toward daytraders than others. If you start at the right time, it's a lot easier.

    I believe that learning to daytrade is much harder than many claim. Most who try, eventually fail no matter how long they stay with it. There are probably many who could get it, but decide there has to be an easier way to make the "easy" money.

    It's a lot like enlightenment: Some people get it immediately with no struggle, and others struggle for a lifetime.
     
  5. Mark Cook said 3 to 5 years. Linda Raschke said 3. Another guy (can't remember his name) said 7. I would say 3 to 4, at least.
     
  6. hype

    hype

    thank you all for your replys!
     
  7. that's about right.
     
  8. I believe it depends on your personality. You can learn to do day trading but being profitable is another story. If you become proud of yourself and are not humble you can not do it even in 100 years. If you are wise and have discipline, the learning time can be 1-2 years but being profitable is questionable.
     
  9. cosmic

    cosmic

    Hi,

    I think it depends on what level you start from...with little experience about yourself in the markets & your style I would also answer 3-4 yrs constant dedication to reach a certain level of proficiency.

    Start with one market, 1-3 setups & 2 major timeframes to daytrade (about 2hrs long). Also start with a limited number of trades everyday to bulid up your discipline. Then set weekly progressive goals in terms of points per share/contract & also have a plan to gradually increase size.

    All the best,
    cosmic
     
  10. It also depends on market conditions. During the Internet bubble, many people *thought* they had mastered the art. However, they were given a rude awakening when the market crashed. You will know if you are truly skilled if you can profit consistantly in any market condition and direction.
     
    #10     Apr 1, 2004