How Much Time Does a Trader Need to Become Consistently more Profitable?
A very frequent question of numerous new or little advanced traders is “what time do I need, by estimate, to become a profitable trader?”
Naturally, it’s not surprising that this question tends to be so usual at the beginning of the trading career of a number of traders. It’s all related to the basis of our work life.
Therefore, it’s similar to when people look for a new job. They also ask themselves when do they get their first salary. So with a little analogy, they are asking about the first day, when they get the profit of their activity.
However, in spite of their work career, in trading one always needs certain experiences and at the same time also the right path for how to achieve the so much wanted goal (profit). And therefore the question “what time do you need to become a consistently profitable trader?“ becomes very inappropriate at the beginning of a trading career.
The right question such traders should ask when they initiate their career are:
What to Do to Become Consistently more Profitable?
Usually, right this question tends to be more important than the question that has become a headline of this article.
Therefore, the first important question is not “how long?,” but firstly it’s necessary to find out the answer to “ WHY has the trader not become profitable by now?” Is it because of the right choice of trading strategy, insufficient funds or inadequate experiences? Only if the trader is able to respond why it’s not like that by now, he can determine the first partial goal properly that needs to be solved within a long and harsh path to successful trading.
What All Does it Take to Become a Trader and am I Able to Achieve That in Fact?
Another important question, we need to find the right answer, is “What does it mean to be a trader and am I able to handle it mentally, financially or timely?” It’s important to state that trading is usually a very lonely, risky and often mentally and time-demanding job, so it’s not appropriate for everyone.
Unfortunately, it’s also true that trading is not for everyone. That means that before any person starts to invest time and money into trading, he/she should be able to answer the following questions: “Do I have enough will, patience or discipline?” Although it does not need to look like that, these three factors form another important difference between successful traders and those on the other side.
So How Much Time Does Such Trader Need to Become Consistently more Profitable?
For sure, you expect now certain calculation of time, after which it’s possible to achieve the so much wished consistent profitability that would shoot you up to the starts. The best response to this question is: It’s not possible to determine a specific time, after which you may become consistently more profitable. Albeit you probably did not want to hear this, unfortunately, the fact is that each person is unique and it always depends only on himself how long it will take at the end.
There are traders among us that were able to achieve consistent profits since their beginning. However, there is a number of traders that had to wait for success for some time and there are also people who’ll never become successful in this industry.
So, before you start this, good looking, but risky career, at first, try to find the response on the question, if you have everything you need to become a trader?
If you would like to try out trading on your own with top-tier trading conditions and a professional forex broker, don’t hesitate and try out our demo account that may be opened on our website completely for free and free of any risk: www.purple-trading.com
We wish you many profitable trades!
About the Author
Team Purple Trading
Purple Trading is a true and 100% fair ECN / STP forex broker providing direct access to the real market. High speed orders execution, no trade-offs, no limits for any type of trading, the most advanced trading technologies. Explore more about Purple Trading at www.purple-trading.com .
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