You will easily find dozens of “online trading mentors” who will promise you to become a Professional Forex Trader in 1 or 2 months .
But what is a reasonable needed duration to become a professional trader?
Realistically, Neither 1 month or 2, or even 1 year.
The real question is: how long time can you dedicate to your training on a daily basis?
Forex Trader is a real job that needs to be learned; it requires time and a real commitment.
If you have a full time job, you won’t be able to dedicate as much time as someone who is totally free, it will have an impact on the required time to start to become good.
Realistically, 1 or 2 years of intensive work are needed to become good in trading.
Another important factor is the personal situation.
If the person wants to make a living from trading, provide for his family, without knowing if trading really fits him, it will increase the pressure. In some cases it will push them ahead, but not in every case, some people are strong when facing adversity others not.
It depends also from the financial situation, if it’s complicated; if you need to borrow to trade; if you have a family, high monthly expenses.. You must take it into consideration.
Be intelligent, the markets won’t disappear; the most important is to have a long term vision, if you reach your goal is 5 or even 10 years; it’s fantastic! To succeed you need a vision, but also a plan, with this plan you need to ensure your security, like having a risk management software ( check out our solutions here ), think about the case if the worst scenario realizes what would you do, and if this scenario doesn’t put you in a difficult situation.
If you have a good capital it’s different, if you have enough to live for 1 year without earning any income, you will be able to be totally dedicated.
Look at Mark Weinstein example , a true success story in the American style: he began working as a damned to build a capital of $ 20,000. Realizing that his beginnings in trading were naive, he began to seriously study the markets and developed a rigorous methodology based on technical analysis by combining several methods. Determined and ready to work hard, he exiles totally, hangs graphics on the walls of his apartment. After three years, he realizes a gain of 1 million dollars, a performance of 5000%!
Also, you need to have a life partner that will support you during hard moments. If you are stressed on the markets, the markets won’t spare you, there’s a famous stock markets saying: scared money never wins money.
Determination and motivation will be the main keys, you will need to be realistic and give yourself the means to succeed.