How many years does it take for one to learn the forex trading?

Discussion in 'Forex' started by Garett Sim, Jan 31, 2018.

  1. Forex is a decentralized market place where traders can engage in forex trading from anywhere around the world. And some traders can be efficient in forex trading within some years of trading. But some traders require a lot of years for learning forex trading efficiently. Basically how many years a trader will require to get the acquaintances about the forex trading depends on the abilities a trader. The quick learner and a person with great intuitions and analytical abilities can be better able to learn the forex market within few years.
    murray t turtle likes this.
  2. %%
    All these years i have never learned /started LOL; doing something with banks money-thats different:cool: So a quick learner could make a big difference, @ bank.; + one would have to really want to trade something.......:caution:
  3. ih201


    Well said. I know some that have picked it up within about 3 months or so, and others that are 7 years deep but still not consistent or profitable. Most do start with the wrong mentality which is detrimental in the long run.
    murray t turtle likes this.
  4. tylerbose


    Depends on your education background and how much you know finance, if you're alone or have a mentor and how legit that mentor is.
    there are many of those "mentors" in Forex who are only good at selling e-books, webinars and other useless junks.

    Most retail traders like myself started with not much knowledge, we have a job/study so we don't have much time to spend on it and most of that time is spent testing "systems" we found on forums,which are mostly based on voodoo and magic indicators that will supposedly show you the best entry/exit.

    you find a "system" on a forum, test it for couple weeks, realize that it doesn't work and move to the next one.

    This is extremely time consuming and frustrating.

    On average i'd say a retail trader on his own will take between 4 and 8 years before becoming profitable
    murray t turtle and Xela like this.
  5. ih201


    Hmm. I think there's a misconception that you must understand finance and that will somehow benefit you when trading. I can tell you first hand it doesn't really benefit me when trading - but I do understand the context which you're talking about. Maybe you mean basic mathematics and some common sense.

    Agreed with the rest of your points. Most of these "mentors" these days are just internet marketers.

    I would suggest stripping your charts of any indicators for a while and sticking to the higher timeframes - especially if you're working during the day.

    There's a good book called we don't need no stinking indicators which I would recommend. Along with naked forex.

    Try that style of trading, using supply/demand zones and momentum etc.
    Might be worth your while.
    tylerbose likes this.
  6. The River Bed - Like that of the Mouth of A Flowing River – So is that of the Foreign Exchange Market Place – It is endless to time but not to Human Interference and will continue to Flow – So do be Patient as to Entries I make available to you. There will always be Time to Place New Entries – As further Evaluation is forthcoming – Once one end is complete – So more leaves from a Tree is Produced – So we are left in Complete Cycle as to what is going on. - Peter Matthew Matty – Just another source of my poetry which I have decided to add in assisting you to better trading mentality.
    murray t turtle likes this.
  7. Variss


    You can not define how long will it take to learn forex trading. It is up to you and your mind flexibility. Many people understand it in a couple of weeks. Invest your time in demo account trading for achieving valuable experience.
  8. There is no clear answer to this. It all depends on your willingness, constancy, knowledge and hard work. There are some people who learn it relatively faster than others whereas others are not so efficient. They take their own time. However I must say this that for a field as elaborate as forex you will require a lot of time and effort to fully understand this. More important than the time frame is how profitable and consistent you are in forex.
  9. Carlll


    You can never put a lifetime on learning. It is upto your skill learning ability. It takes people their entire life to learn something, whereas some people learn in an instant. I agree that forex is a hard thing to learn but is not an impossible task.
  10. Agreed but if you're talking about profitable or efficient trader. I can say that it all depends on the strength of either their mental body (laziness can costs greater loss or wasted experiences) or their mental behavior (immature, poor in management, impatient, greedy in nature).
    #10     Jul 2, 2018
    Kate_Wal108 likes this.