How much time does it take to become a forex professional?Barry Copeland 10 / April / 18 Visitors: 9
How much time does it take to become a forex professional?
Professional activity is understood as an activity that brings the person who is engaged in it his the main income, while the form of organization of such activity is not significant. Moreover, this is so on a trading platform such as Forex, when it is not at all necessary to work in a bank or investment fund in order to be a professional. It is possible to work professionally on Forex without leaving your home, because in addition to knowledge, experience and capital, you only need a computer, several monitors and a reliable Internet channel (preferably two or three from different providers).
Estimates of the time required for becoming a trader diverge: almost never a figure is less than 3 years, in many cases it is said that the period is not less than 15-20 years (many practicing traders who simultaneously conduct webinars in dealing centers indicate this period based on from their own experience).
A realistic period of about 10 years seems to be realistic, after which the trader gains such experience and knowledge that their further increase is unlikely to have any significant effect on the trading career (further growth of success will be due to the scalability of the process unique to trading on Forex).
I believe that the period of 3 years for the average trader is about the same as the end of a regular elementary school. Forex is the quintessence of ordinary life. After all, schoolchildren after graduating from elementary school at the age of 9 or 10 do not become independent members of society, supporting themselves and their family? Normal terms here may be those in life:
1) 3 years (primary school) - the acquisition of initial knowledge and skills;
2) 7- 8 years (secondary school) - the trader must be able to consistently make money on Forex, but in general, his earnings may not be enough for life (the "excellent student" must pass the "exam" on completion of the "eight-year period" - earn his first $ 100,000 from ZERO);
3) experience of 10 years (complete secondary school) - trade must fully satisfy ALL the needs of the trader (the "medalist" should already have a million dollars), the level of a professional trader;
4) experience of 15 years (graduation from a higher education institution) - the trader's capital must be at least 10 million dollars;
5) the experience of 18-20 years (the completion of graduate school and the defense of the dissertation) - capital of $ 100 million, the level of "minion of fortune";
6) 30 years experience (defense of a doctoral dissertation, obtaining the title of professor) - capital of 1 billion dollars;
7) experience of 33 years and until the end of his life (academician, Nobel laureate and other "laurels") - capital of 10 billion dollars and above, the level of "genius of trading."
As in ordinary life, not everyone is destined to reach even 4th stage. But any trader is able to reach the 3rd stage. Of course, genius can do this much faster. But there are few of them. And ordinary people will need patience and work, which, as you know, will "grind" any failures.