Those who first begin to learn the basics of trading in the foreign exchange market are often deterred by many tools, the complexity of the work and the lack of the prospects for profit in the early stages. This is a grave mistake of novice traders.
Agree, there is no easy money anywhere, and to get income, you need to learn a lot, and even more so if you have to learn almost from scratch. You also need to understand that at first losses are inevitable, but this is not a reason to fold the legs. It’s just that everything should have a clear strategy, a concrete understanding of what time by which it should be executed. So how much time is it necessary for a novice trader to learn in order to become successful in trading on the foreign exchange market?
Successful traders say that in order to become a professional you need about 5 years. Someone gets it faster, someone slower, it’s about diligence and hard work. So, if you decide to become a trader, understand a few rules:
1. Study carefully the basics of trading. On average, paying 3-4 hours a day, for 3 months, you can more or less understand how this market works, what methods there are, look into fundamental and technical analyzes. To facilitate the understanding of the material, there are special courses that, by the way, are often free.
2. Theoretical skills are tested in practice on demo versions of the foreign exchange market, that is, an artificial Forex counterpart. In fact, in practice, to understand the wisdom of Forex, applying the obtained theoretical knowledge, it will take at least another three months.
- On average, initial education lasts about 6 months. And only when in the demo version you started to show positive results, try your hand at the real market. And remember: never give up in case of first failures!
Working with the real market takes as much time as you are willing to pay attention to. It all depends on excitement and appetite, since the world stock exchanges, alternating, work 24 hours a day. Of course, it is necessary to monitor the situation on the market, so do not dream that it will be enough for 3-4 hours a day, however, there is no need to sit at the computer for 20 hours, because you have a reliable assistant – a broker.
- Give the real market as much time as you need to get the income you need, but keep in mind that it will take at least 10 hours a day.
To summarize. In order to become a successful trader, you must set a goal and go to it methodically, without stopping in front of failures. You should not think that everything will work out the first time, because it is worth laying the time and money for the initial losses. However, think what a pleasure it will be to achieve your goal! Do not give up and get your first earnings.
We very much believe that our informational assistance and moral support will be a great help on the road to success!