How long did it take for you to become profitable ?

[Resolve]

I start my trading by scrolling economic calendars and news websites.

If you are able to understand the Forex based news you can get the profits.

 

[EddieT]

Took me over 18 months I was actually on demo for nearly a year then I started using small lots and slowly built up to using 0.1 lot size it's all about going at your own pace

 

[swissy]

Took me over 18 months I was actually on demo for nearly a year then I started using small lots and slowly built up to using 0.1 lot size it's all about going at your own pace

Demo is good to learn about the trading platform. Using small lots to start out is the way - you need to understand how to (you) react to trades going against you. It’s all about risk management but you need basically become mechanical and ditch any emotions. Trading then becomes emotionless (even boring) but profitable.
The interesting bit is actually the analysis leading up to a decision point.
Good luck.

 

[High-altitude-drifter]

6 months

 

[Jasonn]

I don't think there is any fixed timeline. You could be profitable today, but may not be tomorrow. Becoming consistently profitable requires a lot of time and dedication. You have to keep learning and analysing your trading regularly.

 

[Susana Vecoli]

Took me at least two years to see some profits. Yet, my curve needs a lot of work. The time period varies from trader to trader.Your strategy and attitude determine your success in the market.

 

[tomorton]

Its a fact that it has taken most profitable traders years to become profitable.

But that doesn't mean it must take years for all traders to become profitable. Most of us started with a strategy which either wasn't completely developed and tested or without any strategy at all. The key difference between winning and losing is starting trading with a profitable strategy.

 

[jonahelen527]

It may take years to be consistently profitable in forex trading, though there is no definite period of time. With experience, traders develop relevant trading skills and right psychology and eventually lead to success.

 

[andrewborund597]

From day 1! Don't take me wrong but I don't think you are profitable only when you make money. But you are profitable when you make money and know the reasons for your losses. Knowledge is the real treasure in your trading career and if you have been learning throughout, you are a profitable trader for sure.

 

[ackleselden]

The time varies, and it depends on the trader. Usually, it takes at least 1 year to see some good results. All traders should do at least 6 months of demo trading before moving on to live trading to see better results since you become a good trader with practice only.

 

[rickhobbsonce]

I may or may not have made money with every trade I executed. But I am glad that I Learnt major lessons of trading with my losses. So, I believe I can say that I have been profitable since the day I executed my first trade.

 

[dbPrograms818]

Good example and story: https://www.jumpstarttrading.com/how-to-become-a-day-trader/

 

[ArqamCapital]

Started trading in 2019. Became a profitable (consistent) trader start of 2022. Quit my full time job last November and it's the best decision I've ever made.

 

[FranziskaSchulz]

I am not still profitable but well, I think I have to control my self in all aspects to become one.
I worked a lot on myself and right now I am being better in different aspects of my trading journey but still, I need time, maybe after 18 months of starting my trading journey I can become one!

 

[Velarcus]

It matters how you define profitable trading. Personally, I've been profitable from day one, but I don't day trade. I do research to find opportunities where sentiment will drive price in a particular direction for days, weeks, or months at a time, take a position, and hold until the situation changes. It's a portfolio approach because diversification works.

I my humble opinion too many "traders" are gambling. They paint lines on charts and convince themselves that they know something just so they can get to the action. They don't bother with fundamentals. They have no edge. And then they come on the forums and whine about how trading is a scam and nobody is profitable, or that it takes forever to become profitable, when all they really need is to quit treating the market like a casino.

 

[cara2]

I've been going about 5 months and am not profitable, but getting less bad. It was easy when I started because many stocks would predictablly rise several % per day. Then I went backwards. I find Paper trading too unrealistic. I'm using tiny size. I get 10 wins in a row then lose it with a mistake - too often the platform (Trading212) lets me down by not working properly.

I am trying to understand/use/copy the Prop Firm traders on TraderTV (live) because they do the legwork. Myexecutions are bad though and I panic.

It is often said "you just need screen time" which I object to. You need mentoring imho.
There is a new trader on TraderTV (Adara) who started knowing nothing, but is intelligent, and being attended to all day. She's improving faster than I am.
Part of that Prop Firm's success is due to their proprietary platform, which is very slick to use, for scalping etc. Mine's a dog!

I am having more problems with the psychology than other things. As they do the legwork, they find stocks which would be worth more or less sticking with all day, but I trade and fiddle too much. For example, Affirm climbed about 10-11% every day for three days. I've been pratting about and not taking advantage. Anyone know a good shrink?? Ditto Coinbase, which has risen 70% in a month, and one or two others.

 

[charles2]

Probably a little off topic, but year's ago before the war when I started out on my trading journey. well 2007 ish, back then the forums were busy, big forums long threads ,much to discuss (not like now) many interested people like me wanting to know all and every thing about trading, Greg Secker was still in short trousers.

I asked a regular poster back then, probably the most naive question in a private message conversation. He obviously new i was new to this .

I asked how do get on with the Tax man regarding paying tax on your winnings.

He just said to me ,if your just starting out ,don't worry you will be a long time until you hit the 40% bracket.

Keep to your day job, Which i did at the time.

 

[ThaddeusFinch]

about two or three years, I lost a lot at the beginning.

 

[charles2]

about two or three years, I lost a lot at the beginning.

Well done.

 

[ThaddeusFinch]

Well done.

Thank you, I appreciate your feedback.