Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

swansjr

How Long Does It Take to Become a Profitable Trader?

Recommended Posts

Detours was mentioned earlier as one of the factors in determining the amount of time.

 

Boy is this a huge deal. If you start with bullshit, like I did, more than likely that will add a huge portion of time.

 

I wish I was one of the ones that started trading with a sound methodology.:angry:

Share this post


Link to post
Share on other sites

It takes the time for a trader to have a trading plan and to understand that doing the same thing over and over again, whether you have 10 wins or 10 losses in a raw is the key to being profitable.

 

In other words, the time will vary with each individual.

 

It can be one month, five years or never....

Share this post


Link to post
Share on other sites

Wow, so much information, just taking the time to sort through it all.

 

I do not see it clearly written out on what it takes to be a successful trader; as much as I know it wouldn’t be there (but can’t deny I might have been hoping). I see there’s a lot of “reading through the lines” and letting you’re RAS focus on the value while disregarding what might not resonate with me at the time.

 

First timer poster here, very much on the journey of aspiring to be a financially independent trader hopefully one day able to be more profitable then not.

After lurking on this forum for sometime, I relate much to the “Beginners Section.”

After playing around with index funds for a few years, contributing to an IRA and playing around with common stock and fiddling around with covered calls, I decided to leap into the huge world of trading.

 

I know DB isn’t a fan of Tharp, but his home study course is what my current read is at the moment. I have a half a dozen trading books under my belt and slowly working my way through understanding Ninja Trader while having my account with scottrade and using there elite software.

 

I understand it’s a long journey and actually looking forward to it.. I hope this post follows along with many more and with a few years from now will be able to answer the question to a newbie like me: “how long does it take to be a profitable trader”

 

-nicK

Share this post


Link to post
Share on other sites

Wow, so much information, just taking the time to sort through it all.

 

I do not see it clearly written out on what it takes to be a successful trader; as much as I know it wouldn’t be there (but can’t deny I might have been hoping). I see there’s a lot of “reading through the lines” and letting you’re RAS focus on the value while disregarding what might not resonate with me at the time.

 

First timer poster here, very much on the journey of aspiring to be a financially independent trader hopefully one day able to be more profitable then not.

After lurking on this forum for sometime, I relate much to the “Beginners Section.”

After playing around with index funds for a few years, contributing to an IRA and playing around with common stock and fiddling around with covered calls, I decided to leap into the huge world of trading.

 

I know DB isn’t a fan of Tharp, but his home study course is what my current read is at the moment. I have a half a dozen trading books under my belt and slowly working my way through understanding Ninja Trader while having my account with scottrade and using there elite software.

 

I understand it’s a long journey and actually looking forward to it.. I hope this post follows along with many more and with a few years from now will be able to answer the question to a newbie like me: “how long does it take to be a profitable trader”

 

-nicK

Share this post


Link to post
Share on other sites

Just got DB's book.. I love how it's written at an introductory level.. I'll spend sometime witht that along with the book recommendation section here devoted a small chapter too..

 

-@ the start of a journey!

Share this post


Link to post
Share on other sites

Wow! This is getting deep. On average consistent profits usually take 1-2 years for those traders who are going to make it. There are no quick fixes to this it just takes time to learn to trade properly.

Share this post


Link to post
Share on other sites
Wow! This is getting deep. On average consistent profits usually take 1-2 years for those traders who are going to make it. There are no quick fixes to this it just takes time to learn to trade properly.

 

I'm curious about which information you use to base the 1-2 years average on? Is it based on some kind of research you have done, or published papers?

Share this post


Link to post
Share on other sites

As for my path... I'm reading DBPhoneix's book.. It's a great introduction to the market, taking specific concepts and talking about them in depth. THen, at the end, he has a list of about 7 books he recommended.. In the meantime i'm slowly disecting Ninja Trader and will continue to paper trade until I finish the above education and make consistent profits..

 

How does this sounds to you guys in you're opinion?

 

I was reading Van Tharp's course "Peak Performance" but just wasn't feeling right about it. So I stopped at about halfway through the second book.. Also, couldn't stand the little upselling he would throw in ever other page..

 

-nicK

Share this post


Link to post
Share on other sites
I'm curious about which information you use to base the 1-2 years average on? Is it based on some kind of research you have done, or published papers?

 

From 10 years of trading in professional prop firms and seeing it all happen first hand. Retail traders rarely put the time in to make it that long, which is one of the primary reasons for the ridiculously high failure rate. Doesnt mean that no one makes money in their first year, it just takes 1-2 years to find true consistency

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Question: To those that had/have cancer, what were the signs that made you think “something is not right here” to make you go see a doctor? Answer: So, 5/25/2018, I woke up, got ready for work, and as I walked to my car, I started gagging. Like something was stuck in my throat and I needed to clear it. And then it went away.   But 10 minutes after that, I was T-boned at 40mph on the driver side door. But what made me see a doctor was while my muscles felt better and bruises were going away, the gagging still continued, I started having fevers, my neck felt swollen, I was having such a hard time breathing, and I'd have random sharp pains in my chest, but not from where the seat belt saved me.   2 weeks after the accident, I finally see an urgent care doctor, who looks me over, tells me I'm fine, but luckily requests a neck X-ray. And I ask for a chest X-ray, which he rolls his eyes but let me have (most of my pain was in the neck, so I understand).   The very next day, he calls and says “So, that chest X-ray shows there's a 4 inch mass on your heart and lungs, and your lungs have been filling up with fluid, as well as in your pericardial (heart) wall. We need you to come in tomorrow.”   Turns out the big mass, due to the accident, caused my heart and lungs to tear and fill with fluid, the swollen neck and gagging was caused by 2 metastasized tumors, and the fevers and weight loss were symptoms. Stage 4b Hodgkin's Lymphoma.   But thankfully, we went very aggressive with chemo (and had a lot of bad side effects that don't normally happen to patients), and now I'm about 16 months cancer-free. Yay lucky X-rays! Rachel Jurina, Quora Source: https://www.quora.com/To-those-that-had-have-cancer-what-were-the-signs-that-made-you-think-something-is-not-right-here-to-make-you-go-see-a-doctor   Profits from free accurate cryptos signals: https://www.predictmag.com/  
    • As a man, the reality of life is the harshest part. I don’t mind looking older or becoming weaker over time; it’s nature.   Have you ever heard that the only people who will be loved unconditionally are women and children? Men will only be loved as long as they can provide until they are no longer needed. It doesn’t matter if you already did your best to get your kids to the best school or get the best things for them, if you stop before they’re done with it, there will be no thank you. The only thing they will remember is that they have to quit school at 15, ignoring all the previous 15 years of life you provided for them. The only people who will accept you, no matter what, are your parents. But in this situation, you might be that ungrateful child.   EDIT: Wow, I didn’t think this would get so much attention.   For those who disagree, I can only say that everyone has their problem. If you don’t get the chance to face such a thing, be grateful. Remember, sometimes what you throw in the garbage is something that someone wishes ever to have.” – ElZee, Quora   Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • The good thing i had noticed so far is that the traderpot value is also on the rise..
    • yup its a gradual rollout the right way in my opinion, its really good and its exciting for the sto in 2027
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.