How long you learn in order to be a professional and experience forex trader?
Monday, July 26th, 2010 at
7:13 pm
Some people said it is very long i.e. 2 to 10 years is it true?
Tagged with: 10 years
Filed under: Learn Forex
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I can’t speak to the professional aspect but I’ve been trading Forex for a couple years and am marginally successful but it takes a lot of work and in the beginning, a lot of money. I blew through my first $5,000 account in about 2 months. In looking back, I realize that while I thought I was good and would make a killing, I didn’t have a clue. Over the 2 years, I’ve learned a lot and have developed techniques that work for me but it’s a lot of work – 20+ hours per week reading everything I can about the economies of other countries and trying to understand what the market is going to do in response to economic reports and news. You really have to be on top of things and you have to develop a strategy that works for you.
I treat it as a hobby – something I can do to keep the brain active as I approach retirement. My goals are to make more money than I lose and will keep trading as long as I can do that but to be honest, I make more money in the stock market.
The get rich quick schemes for Forex may sound good but it just doesn’t happen for the average individual.