I am often asked during my trading sessions – how long does it take to learn how to trade ? That is a tough question to answer. The short answer is that a DISCIPLINE and COMMITTED person can learn the basics of trading in a couple months. The long answer is that it can take a lifetime to master, One Life is not enough to master stock market . Its very important to realize for trader, Mastery in trading does not come overnight, It takes Years and years of efforts coupled with burning desire to succeed with setbacks market will offer you.
Since most people just want to make a consistent profit from trading , we will concentrate on the time frame for achieving that.
You need to patient and calm. Statistics claim that almost 90 percent of share traders give up after a few consecutive loss-making sessions. They leave the arena before finding their first success.
However, the remaining 10 percent do not lose their patience levels and end up with making enormous profits.
It is up to you, whether you want to be part of 90 percent or 10 percent?
The One-Year Mark
The one-year time frame is the most critical for traders. Most of new traders like to make huge sums of money the very first day there trading account is open, easiest route is trading in OPTIONS. That usually gets them into trouble and almost guarantees them an inclusion into the 90 percent of people who lose money from trading.
The first year of trading is all about learning how to trade. Achieving break even at the end of year one is a victory. Most traders who can at least break even after one year of trading will often become profitable traders.
Consistently Profitable Traders
You can accelerate the learning process by making a journal, making notes, learning, revising, revisiting previous trading sessions.
Neurons and synapses in our brain are real destiny and with proper learning and revision, performance is accelerated.
It will normally take about three years of trading before someone can become a consistently profitable trader. It takes a good deal of research and experience of your psychological barrier before you can reach this level. If you cannot put in the time, effort and discipline, it is a good chance that you may never become a profitable trader.
I highly recommend that new traders try to learn to trade from someone who is already a successful trader. This will substantially speed up the learning curve and some good trading techniques will be learned. If might be difficult to find a trading mentor, but it will help immensely if you can find one.
The best thing you can for learning how to trade is take your trading slowly, but spend a lot of time on mastering your skills and trading system. Expect many setbacks in the first year as it should be considered a learning year. You should become a successful trader after three years or you are likely not exercising the proper discipline.
Few Tips my Mentor gave me can be read here