Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

swansjr

How Long Does It Take to Become a Profitable Trader?

Recommended Posts

Detours was mentioned earlier as one of the factors in determining the amount of time.

 

Boy is this a huge deal. If you start with bullshit, like I did, more than likely that will add a huge portion of time.

 

I wish I was one of the ones that started trading with a sound methodology.:angry:

Share this post


Link to post
Share on other sites

It takes the time for a trader to have a trading plan and to understand that doing the same thing over and over again, whether you have 10 wins or 10 losses in a raw is the key to being profitable.

 

In other words, the time will vary with each individual.

 

It can be one month, five years or never....

Share this post


Link to post
Share on other sites

Wow, so much information, just taking the time to sort through it all.

 

I do not see it clearly written out on what it takes to be a successful trader; as much as I know it wouldn’t be there (but can’t deny I might have been hoping). I see there’s a lot of “reading through the lines” and letting you’re RAS focus on the value while disregarding what might not resonate with me at the time.

 

First timer poster here, very much on the journey of aspiring to be a financially independent trader hopefully one day able to be more profitable then not.

After lurking on this forum for sometime, I relate much to the “Beginners Section.”

After playing around with index funds for a few years, contributing to an IRA and playing around with common stock and fiddling around with covered calls, I decided to leap into the huge world of trading.

 

I know DB isn’t a fan of Tharp, but his home study course is what my current read is at the moment. I have a half a dozen trading books under my belt and slowly working my way through understanding Ninja Trader while having my account with scottrade and using there elite software.

 

I understand it’s a long journey and actually looking forward to it.. I hope this post follows along with many more and with a few years from now will be able to answer the question to a newbie like me: “how long does it take to be a profitable trader”

 

-nicK

Share this post


Link to post
Share on other sites

Wow, so much information, just taking the time to sort through it all.

 

I do not see it clearly written out on what it takes to be a successful trader; as much as I know it wouldn’t be there (but can’t deny I might have been hoping). I see there’s a lot of “reading through the lines” and letting you’re RAS focus on the value while disregarding what might not resonate with me at the time.

 

First timer poster here, very much on the journey of aspiring to be a financially independent trader hopefully one day able to be more profitable then not.

After lurking on this forum for sometime, I relate much to the “Beginners Section.”

After playing around with index funds for a few years, contributing to an IRA and playing around with common stock and fiddling around with covered calls, I decided to leap into the huge world of trading.

 

I know DB isn’t a fan of Tharp, but his home study course is what my current read is at the moment. I have a half a dozen trading books under my belt and slowly working my way through understanding Ninja Trader while having my account with scottrade and using there elite software.

 

I understand it’s a long journey and actually looking forward to it.. I hope this post follows along with many more and with a few years from now will be able to answer the question to a newbie like me: “how long does it take to be a profitable trader”

 

-nicK

Share this post


Link to post
Share on other sites

Just got DB's book.. I love how it's written at an introductory level.. I'll spend sometime witht that along with the book recommendation section here devoted a small chapter too..

 

-@ the start of a journey!

Share this post


Link to post
Share on other sites

Wow! This is getting deep. On average consistent profits usually take 1-2 years for those traders who are going to make it. There are no quick fixes to this it just takes time to learn to trade properly.

Share this post


Link to post
Share on other sites
Wow! This is getting deep. On average consistent profits usually take 1-2 years for those traders who are going to make it. There are no quick fixes to this it just takes time to learn to trade properly.

 

I'm curious about which information you use to base the 1-2 years average on? Is it based on some kind of research you have done, or published papers?

Share this post


Link to post
Share on other sites

As for my path... I'm reading DBPhoneix's book.. It's a great introduction to the market, taking specific concepts and talking about them in depth. THen, at the end, he has a list of about 7 books he recommended.. In the meantime i'm slowly disecting Ninja Trader and will continue to paper trade until I finish the above education and make consistent profits..

 

How does this sounds to you guys in you're opinion?

 

I was reading Van Tharp's course "Peak Performance" but just wasn't feeling right about it. So I stopped at about halfway through the second book.. Also, couldn't stand the little upselling he would throw in ever other page..

 

-nicK

Share this post


Link to post
Share on other sites
I'm curious about which information you use to base the 1-2 years average on? Is it based on some kind of research you have done, or published papers?

 

From 10 years of trading in professional prop firms and seeing it all happen first hand. Retail traders rarely put the time in to make it that long, which is one of the primary reasons for the ridiculously high failure rate. Doesnt mean that no one makes money in their first year, it just takes 1-2 years to find true consistency

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • NFLX Netflix stock watch, local support and resistance areas at 838.12 and 880.5 at https://stockconsultant.com/?NFLX
    • Date: 8th April 2025.   Markets Rebound Cautiously as US-China Tariff Tensions Deepen     Global markets staged a tentative recovery on Tuesday following a wave of volatility sparked by escalating trade tensions between the United States and China. The Asia-Pacific region showed signs of stability after a chaotic start to the week—though some pockets remained under pressure. Taiwan’s Taiex dropped 4.4%, dragged lower by losses in tech heavyweight TSMC. The world’s largest chipmaker fell another 4% on Tuesday and has now slumped 13.5% since April 2, when US President Donald Trump first unveiled what he called ‘Liberation Day’ tariffs.   However, broader sentiment across the region turned more positive, with several markets rebounding sharply after Monday’s dramatic sell-offs. Japan’s Nikkei 225 surged over 6% in early trading, rebounding from an 18-month low. South Korea’s Kospi rose marginally, and Australia’s ASX 200 gained 1.9%, driven by strength in mining stocks. Hong Kong’s Hang Seng rose 1.6%, though still far from recovering from Monday’s 13.2% crash—its worst day since the 1997 Asian financial crisis. China’s Shanghai Composite added 0.9%.   In Europe, DAX and FTSE 100 are up more than 1% in opening trade. EU Commission President von der Leyen repeated yesterday that the EU had offered reciprocal zero tariffs on manufactured goods previously and continues to stand by that offer. Others are also trying again to talk to Trump to get some sort of agreement that limits the impact.   Much of the rally appeared to be driven by dip-buying, as well as hopes that the intensifying trade war could still be defused through negotiations.   China Strikes Back: ‘We Will Fight to the End’   Tensions reached a boiling point after Trump threatened to impose an additional 50% tariff on all Chinese imports unless Beijing rolled back its retaliatory measures by April 8. ‘If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow... the United States will impose additional tariffs on China of 50%,’ Trump declared on social media.   If implemented, the new tariffs would bring total US duties on Chinese goods to a staggering 124%, factoring in the existing 20%, the 34% recently announced, and the proposed 50%.   In response, China’s Ministry of Commerce issued a stern warning, stating: ‘The US threat to escalate tariffs is a mistake on top of a mistake... If the US insists on its own way, China will fight to the end.’ The ministry also called for equal and respectful dialogue, though signs of compromise on either side remain scarce.   Beijing acted quickly to contain a market fallout. State funds intervened to support equities, and the People’s Bank of China set the yuan fixing at its weakest level since September 2023 to boost export competitiveness. Additionally, five-year interest rate swaps in China fell to their lowest levels since 2020, indicating potential for further monetary easing.   Trump Talks Tough on EU Too   Trump’s hardline approach extended beyond China. Speaking at a press conference, he rejected the European Union’s offer to eliminate tariffs on cars and industrial goods, accusing the bloc of ‘being very bad to us.’ He insisted that Europe would need to source its energy from the US, claiming the US could ‘knock off $350 billion in one week.’   The EU, meanwhile, backed away from a proposed 50% retaliatory tariff on American whiskey, opting instead for 25% duties on selected US goods in response to Trump’s steel and aluminium tariffs.     Volatile Wall Street Adds to the Drama   Wall Street experienced wild swings on Monday as investors processed the rapidly evolving trade conflict. The S&P 500 briefly fell 4.7% before rebounding 3.4%, nearly erasing its losses in what could have been its biggest one-day jump in years—if it had held. The Dow Jones Industrial Average sank by as much as 1,700 points early in the day but later climbed nearly 900 points before closing 349 points lower, down 0.9%. The Nasdaq ended up 0.1%.   The brief rally was fueled by a false rumour that Trump was considering a 90-day pause on tariffs—rumours that the White House quickly labelled ‘fake news.’ The market's sharp reaction underscored how desperate investors are for any sign that tensions might ease.   Oil Markets in Focus: Goldman Sachs Revises Forecasts   Crude prices also reflected the uncertainty, with US crude briefly dipping below $60 per barrel for the first time since 2021. As of early Tuesday, Brent crude was trading at $64.72, while WTI hovered around $61.26.   Goldman Sachs, in a note dated April 7, lowered its average price forecasts for Brent and WTI through 2025 and 2026, citing mounting recession risks and the potential for higher-than-expected supply from OPEC+.       Under a base-case scenario where the US avoids a recession and tariffs are reduced significantly before the April 9 implementation date, Goldman sees Brent at $62 per barrel and WTI at $58 by December 2025. These figures fall further to $55 and $51, respectively, by the end of 2026. This outlook also assumes moderate output increases from eight OPEC+ countries, with incremental boosts of 130,000–140,000 barrels per day in June and July.   However, should the US slip into a typical recession and OPEC production aligns with the bank’s baseline assumptions, Brent could retreat to $58 by the end of this year and to $50 by December 2026.   In a more bearish scenario involving a global GDP slowdown and no change to OPEC+ output levels, Brent prices might fall to $54 by year-end and $45 by late 2026. The most extreme projection—based on a simultaneous economic downturn and a full reversal of OPEC+ production cuts—would see Brent plunge to below $40 per barrel by the end of 2026.   Goldman noted that oil prices could outperform forecasts significantly if there was a dramatic shift in tariff policy and a surprise in global demand recovery.   Cautious Optimism, But Warnings Persist   With both Washington and Beijing showing no signs of backing down, markets are likely to remain volatile in the days ahead. Investors now turn their attention to upcoming trade meetings and policy decisions, hoping for clarity in what has become one of the most unpredictable trading environments in recent years.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • CVNA Carvana stock watch, rebound to 166.56 support area at https://stockconsultant.com/?CVNA
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.