grass_hopper
Junior member
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Hi All,
I've read many times in various forums and trader's blogs that it takes about 10000 hours (4-5 years, full time) to learn to trade successfully.
Is this really the case or the number assumes that one had zero previous financial knowledge or experience?
I traded with real money in the past (2001-2004) and lost half of it due to emotions, lack of knowledge, impatience, and other personal flaws.
I've been watching financial markets ever since and finally decided to do it right this time. I've been paper-trading stocks and options on a demo account for the last 3 months. My account went between -8% to +5% (current) but I am not yet confident that it will last.
My current goal is 1% a week for at least 6 months. If I can pull that off, I may gain more confidence, but again it is a far cry from 10000 hours.
I wonder how long should I paper-trade before switching to real money?
Thanks
--
GH
I've read many times in various forums and trader's blogs that it takes about 10000 hours (4-5 years, full time) to learn to trade successfully.
Is this really the case or the number assumes that one had zero previous financial knowledge or experience?
I traded with real money in the past (2001-2004) and lost half of it due to emotions, lack of knowledge, impatience, and other personal flaws.
I've been watching financial markets ever since and finally decided to do it right this time. I've been paper-trading stocks and options on a demo account for the last 3 months. My account went between -8% to +5% (current) but I am not yet confident that it will last.
My current goal is 1% a week for at least 6 months. If I can pull that off, I may gain more confidence, but again it is a far cry from 10000 hours.
I wonder how long should I paper-trade before switching to real money?
Thanks
--
GH