FAQ How Long Does it Take to Make a Stable Income from Trading?

[amazingfx]

From my experience I will say that it takes quite a long time, at least 1 year until the profit was consistent over time.

 

[richieforex]

How long does take make stable income trading? Reply: The more experience gained, the better your trading income. It definitely depend on individuals, stable income trading need more efforts, experience, knowledge, skill and good trade strategy, etc.

I agree, there are many factors!

 

[NVP]

From my experience I will say that it takes quite a long time, at least 1 year until the profit was consistent over time.

1 year sounds light to me......10,000 hours of trading and you are warming up then

N. :smart:

 

[NVP]

I have been in for 23 years since I opened my first self directed account. Still lose money as well as make. I estimate it took about 10 years to get comfortable with the loss side and there could be two reasons for that
1. Just grew confident that ultimately I had an edge in what I was doing
2. I got more wealthy and had more disposable income so the loss had less of an impact on my immediate standard of living.
Really not sure which as beyond a certain level of earning the incremental increase has less relevance to how you live day to day.
I do not think there is a normal time for people to make it in this game. If you are lucky you find a clear edge from the start and do not have to work to find it. I have seen traders make a fortune in their first year. I never understood exactly how anybody who made such outside returns actually did it as they were not so keen to share the details. One has to find their own way and comfort zone. Everybody talks about this and it is probably frustrating to somebody coming into this game who has no clue where to start. I suggest you first work out how not to lose money. Always know your outs..always. That means where to cut the losses.
As I progressed I found the timeframe of trades also increased. I met very few day traders, other than the locals of old or the hFt's today who made consistent money day trading. Actually spend more time understanding how things are than trading. The trade goes on only when the arguments against having it have been well explored. I very much like Ray Dalio's approach to ultra realism and for him it has paid off extremely well.
One thing is clear, once you get bitten and find your way, I do not think you ever stop.

Excellent post .....I,started trading back in the 1980's and had gambled professionally since the 1970s in other markets

You never stop learning and no ones journey is the same......for me trading is not really an addiction that's a strong and negative word......but I think trading gets in your blood and then you will never stop trading .......so make sure you win over time or it will be an expensive addiction

N

 

[Hate2Lose]

I have been in for 23 years since I opened my first self directed account. Still lose money as well as make. I estimate it took about 10 years to get comfortable with the loss side and there could be two reasons for that
1. Just grew confident that ultimately I had an edge in what I was doing
2. I got more wealthy and had more disposable income so the loss had less of an impact on my immediate standard of living.
Really not sure which as beyond a certain level of earning the incremental increase has less relevance to how you live day to day.
I do not think there is a normal time for people to make it in this game. If you are lucky you find a clear edge from the start and do not have to work to find it. I have seen traders make a fortune in their first year. I never understood exactly how anybody who made such outside returns actually did it as they were not so keen to share the details. One has to find their own way and comfort zone. Everybody talks about this and it is probably frustrating to somebody coming into this game who has no clue where to start. I suggest you first work out how not to lose money. Always know your outs..always. That means where to cut the losses.
As I progressed I found the timeframe of trades also increased. I met very few day traders, other than the locals of old or the hFt's today who made consistent money day trading. Actually spend more time understanding how things are than trading. The trade goes on only when the arguments against having it have been well explored. I very much like Ray Dalio's approach to ultra realism and for him it has paid off extremely well.
One thing is clear, once you get bitten and find your way, I do not think you ever stop.

Spot on.

For a beginner, I think this is good advice;

‘I suggest you first work out how not to lose money. Always know your outs..always. That means where to cut the losses.’

 

[Svetlana Korj]

I guess it depends on the person and how much time he devotes to trade. Well, luck is very important.

 

[victoriajensen]

It depends on the person, their character and how dedicated they are to learning from their own mistakes.

 

[AutomatedTrader]

Hi,

I have been trading more than four years. Still I am struggling to have stable income from trading. I just started to get rid of blowing out account from last 7-8 months and my account is also in plus now for last 7-8 month. But not that much to maintain my livelihood. So I kept it part time.

In my trading career I have met people who even losing money continuously even after after trading more than 16 years.
So the question is very subjective , much depends on proper skills and mindset.

 

[Notorious P.I.P.]

Hi,

I have been trading more than four years. Still I am struggling to have stable income from trading. I just started to get rid of blowing out account from last 7-8 months and my account is also in plus now for last 7-8 month. But not that much to maintain my livelihood. So I kept it part time.

In my trading career I have met people who even losing money continuously even after after trading more than 16 years.
So the question is very subjective , much depends on proper skills and mindset.

You're not alone my friend! just under 4 years too and although I am getting some great results every now and again, i'm still striving towards the ever elusive consistency that we are all looking for. I havent come across anyone who is still going (and hasnt thrown in the towel) not making consistent returns after 16 years, but sure it is only a matter of time! trading can be tough

 

[Notorious P.I.P.]

Often the biggest mistake (as I made in my earlier days) is believing that you can "buy" an income by purchasing a system from someone - you have to learn the hard way (or be lucky enough to find an experienced mentor)

 

[ProFXManager]

minimum 6 months demo, 6 months live to proof your (current) system

 

[LuckyInvestment]

Can trading forex or binary options become a stable income or just extra income. If it will take years for me to learn and make money, how much should I invest just like going to school. And how much am I going to lose for me to learn the strategy. for a fast learner may be, what about slow learner????

 

[NVP]

minimum 6 months demo, 6 months live to proof your (current) system

6-12 months even with a master mentor and trading programme would STILL not give a novice trader the experience to sustain ongoing profitability ........and to get such a person to sponsor/support you entails a CV with a serious amount of trading experience in the first place

as an example look at the dieters who shed huge percentages of their body weight with the help and focus of trainers 24/7................then it goes back on when that support stops ...just like most wannabee traders after the early training and help

6 months profitability live can still be put down to luck ..........traders need to prove that they can endure by adapting their systems and delivering sustainable profits year in year out in all conditions ........

you are only as good as your next trade

N:smart:

 

[ProFXManager]

so if the novice is trading, brownian motion, probality theory, stochastic processes and pure price action, the novice can survive forex with 6 month demo and 6 month live, entering the master class..thats why i wrote "current"! If you use lag indis, you need severals years on the road to success.

but to understand financial terms, rules and conditions, you need financial mathematics...

my2c

 

[arigoldman]

At least a few years. Like any other profession, it takes time to learn. Pulling the trigger (i.e. executing a trade) should be the last thing on your mind.

 

[NVP]

so if the novice is trading, brownian motion, probality theory, stochastic processes and pure price action, the novice can survive forex with 6 month demo and 6 month live, entering the master class..thats why i wrote "current"! If you use lag indis, you need severals years on the road to success.

but to understand financial terms, rules and conditions, you need financial mathematics...

my2c

if you use lag inds you will never make it ..........ever........great for the early learning curve but ditch as time goes on

and martingale ?...........seriously ?

isn't brownian motion a physics/chemisty theory .......jees I remember that from school ?

N

 

[NVP]

so if the novice is trading, brownian motion, probality theory, stochastic processes and pure price action, the novice can survive forex with 6 month demo and 6 month live, entering the master class..thats why i wrote "current"! If you use lag indis, you need severals years on the road to success.

but to understand financial terms, rules and conditions, you need financial mathematics...

my2c

why don't you just get on with it and pitch your business dude ?.....

 

[ProFXManager]

and martingale ?...........seriously ?
if you mean casino martingale, NO! (most people mean it, but no one have a financial mathematics background with "martingal" (no "e")
if you mean martingal in combination with brownian (arithmetic) motion, probability theory, and some other wellknown security features, like async hedges, YES!

isn't brownian motion a physics/chemisty theory .......jees I remember that from school ?
brownian is not some stuff at school, university at least (financial mathematics), there are several forms of brownian motion: chemistry, fractal, geometry, random walk, arithmetic and so on

N

why don't you just get on with it and pitch your business dude ?.....

minimum 5 non-disclosure!

 

[NVP]

thanks for that ............interesting

 

[ProFXManager]

thanks for that ............interesting

you're welcome dude.