How many hours of practice you need?

[neil]

?.....do you do it full time?

3 hours daily only

 

[neil]

I put £100 in my spread betting account

I already lost 5 pence

Kinell - It sounds as if you are slowly bleeding to death:-0

 

[ken979]

Kinell - It sounds as if you are slowly bleeding to death:-0

I know :|

3 hours daily only

On a serious note

365 days x 3 hrs a day x 7 years = 7,665 hours

You should be extremely good by now.

Thanks for beening honest, I really respect people who are honest

I'm glad to be on this forum as I am seeing a bigger picture.

Results are so random.

An other question I like to ask is, is there anything you could of done differently to speed up your learning curve?

Also what keeped you going?

Has this alway been a hobby for you or are you like most trader's on here that dream's of making a living on trading

 

[neil]

I know :|



On a serious note

365 days x 3 hrs a day x 7 years = 7,665 hours

You should be extremely good by now.

Thanks for beening honest, I really respect people who are honest

I'm glad to be on this forum as I am seeing a bigger picture.

Results are so random.

An other question I like to ask is, is there anything you could of done differently to speed up your learning curve?

Also what keeped you going?

Has this alway been a hobby for you or are you like most trader's on here that dream's of making a living on trading

I dream to achieve the lifestyle of a retired dentist
And to avoid hazardous flight

 

[Black Swan]

I became a student of the markets 6 years ago, I will die a student, like you said, it's a school you never graduate from

I like this bit..

 

[chinaloong]

you will come across plent of things when doing trade.
And being a successful need experience~~the more the better.
Good luck!!

 

[coopster]

you will come across plent of things when doing trade.
And being a successful need experience~~the more the better.
Good luck!!

banned! But he was so insightful?

 

[futuresforex]

How many hour's of practice do you need, to get good at trading?

1,000 hours of practice?

10,000 hours?

I already read you need 2 or 3 year's trading experience to start making money.

Say for example you start with a small amount of money and work your way to 2 or 3 year's experience, how many hour's of practice do you need?

Also how many hour's of study do you need?

Thanks

Most people it takes a few thousand hours, anywhere between 3,000 - 10,000 hours.

What adds a lot of time to the process is that many people spend a lot of time searching for the holy grail, that magic indicator, the magic indicator settings that will make them money.

If you can abandon the search for the holy grail and focus on what works that can shave off 1,000 - 2,000 hours off the learning curve.

Also if you can network and learn from top traders that are already making money and actually follow a lot of what they do that cuts the learning time drastically by 50% or more.

A lot of the learning time is a result of not believing or understanding the fundamentals of trading success. Usually when someone says cut your losses and let your profits run, it is hard for the beginner trader to understand what that exactly means. Also simple trader mindset like accepting the risk , and knowing how to handle losses. Most beginner traders do not really realize what that means, and it can take them months or years to fully understand that and get it into their mindset.

That is why you need access to the best information and best answers to your questions which are specific to your unique situation.

 

[daotrades]

Most people it takes a few thousand hours, anywhere between 3,000 - 10,000 hours.

What adds a lot of time to the process is that many people spend a lot of time searching for the holy grail, that magic indicator, the magic indicator settings that will make them money.

If you can abandon the search for the holy grail and focus on what works that can shave off 1,000 - 2,000 hours off the learning curve.

Also if you can network and learn from top traders that are already making money and actually follow a lot of what they do that cuts the learning time drastically by 50% or more.

A lot of the learning time is a result of not believing or understanding the fundamentals of trading success. Usually when someone says cut your losses and let your profits run, it is hard for the beginner trader to understand what that exactly means. Also simple trader mindset like accepting the risk , and knowing how to handle losses. Most beginner traders do not really realize what that means, and it can take them months or years to fully understand that and get it into their mindset.

That is why you need access to the best information and best answers to your questions which are specific to your unique situation.

Now that's some good advice right there.

Having taught martial arts for over 25 years, the one thing that trumps speed, strength and talent, is dedication and persistence. Someone who's put in over 10,000 repetitions of a set of combos and maneuvers will kick ass over someone who's fast as cheetah and strong as an ox but has only practiced/sparred a few hundred times.

But beyond the extremely high number count...perfect practice is better than poor practice....i.e. stay away from stuff that DOESN'T work....focus on the basics, build your trading plan from there, master that first and then move on to add new techniques and strategies one bit at a time. Do that, and you can definitely shave off several thousand hours of practice.

The best fighters from my school, have just a handful of techniques that they kick ass with day in and day out. They count on no more than 3 solid and steady SIMPLE techniques, and only go into advanced techniques when the timing and situation is perfect.....

the same concept can be applied to trading, hone your trading down to 2-3 patterns/methods/setups do those things repeatedly till you nail it almost everytime....then after you've built up your trading capital and you can start experimenting with 1 new technique at a time to see how the new technique can boost your performance.