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It's probably the most asked question when you are new to forex trading - "How long does it take to become a successful currency trader?"
We get asked this quite often, and, we'll be honest with you, - it's impossible to answer. It really depends on your focus, your commitment, and your discipline.
It depends on how often you study forex charts, and how focused you are when you are working.
Many new traders say they are working, but what they really mean is that they are checking emails, browsing websites, spending time in forums, etc
Now, don't get me wrong - all these things need doing, but you have to have a degree of balance in the amount of time you allocate to them.
If you only have 3 hours per day to learn currency trading, and you spend 2 hours browsing forums and websites, and 30 minutes on emails, then you only have 30 minutes left to do productive work that will move your business forward.
You must make sure that you pay attention to the type of work you're doing and whether or not you're being productive. Surfing the internet, constantly checking your email, talking to friends on internet messaging, etc is not considered productive, unless you're doing some useful research.
No-one can guarantee you'll be successful. BUT, provided you put in effort towards doing productive work, you can become a successful forex trader.
Remember, the first step is getting started. If you don't start taking action, you will never achieve any success.
A little bit of "targeted" action every day will soon move your online forex business forward, and you will start to notice an improvement in a short space of time.
Set yourself a daily target, and make a written note daily on whether or not you reached your target. Having a written record will hold you accountable, and help keep you focused on the things you need to do.
Having your first success in online currency trading, even if it's a small pip one, will help to motivate you and strengthen your commitment to becoming a successful trader. Half-hearted work isn't work, that won't help you at all. In fact, it will just end up frustrating you. Just keep moving forward and learn as much as you can.
How long it takes you to become a successful currency trader is really in your hands. You must take action to start moving forward. Keep telling yourself that failure is not an option.
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