Successful Traders, How Long Did it Take You?

Discussion in 'Trading' started by smallfil, Mar 5, 2006.

  1. Just need experiences from the successful traders on these boards. How long did it take you to master trading, that is being able to pull substantial amounts of money out of the market year in and year out?
    Thank you for your time.
  2. the most common response I've heard to this question is about 2 years.

    That's about what it took me personally..fwiw.

  3. pbw


    Good question -- I am paper trading for about three months now -ready to take the plunge..
  4. reno4nook,

    Thanks for the post. It is interesting that a lot of people looked at this thread yet, nary a post.
    Not asking for anyone's trading systems or
    techniques but, just trying to get a straight answer on how long it takes to be a "professional" trader. One year, 2 years,
    10 years??? Practically no one wants to answer.
    Professional being one who is able to take huge amounts of money out of the market on a consistent basis.
    In any case, I got my answer and more somewhere else just today. Funny how things sometimes work out themselves.
  5. That's because most of these slobs are hapless losers in the Daytrading field.
  6. It's a tough question to answer, because everybody is different. I don't think any experienced trader would say "I have mastered trading". It really is a never ending dynamic challenge.

    To answer your question I would say if you pick 1 style build some rules and stick to it everyday all day, you will know if you are going to make it after about 3 months.

    good luck
  7. azmi


    its different for every person - some have a natural affinity and work hard toward success in trading hence dont take too much time. Other can take months if not years. It took me around 6 months to start making "some" money and around a year to make consistently "decent" money. If the national average income is 40G per year then consider "some" as <40G and "decent" as >40G. So success in this business is a relative term.

    However there are certain rockstars on the forum who make well into 6 figures - to the tune of half a mio or so....go on the PnL thread and see for yourself. I dont know how long they have been doing this for though.
  8. Hello everyone,
    I went at it alone from zero knowledge of the markets and only after I started to use a market recorder (a replay of the day's session) after hours, which was by then four years after i'd started did I then develop a degree of competence where i could say i could bring a daily gain - nothing major but consistent decent trades- not perfect. All in all I'd say 5 years. Still run into trouble, but have a much better sense of direction. No mastering yet, unfortunately
  9. It took me 4 months to develop the consistency to take money out of the market nearly every day. If you want to shorten your learning curve, find a good mentor.
  10. badvlad


    Screen Trading

    No coaching or mentoring 70% chance of going bust within 6 months.

    Proper training and conservative trading sizes:

    6 months to break even
    9 months to profitability
    12-18 months to become really consistant performer

    Naturally, no unfortunate events during this time period
    #10     Mar 7, 2006