Time needed to become a successful Trader

There is a wrong belief that if someone starts trading, he/she will be profitable from the very first trade. Most of the traders thinks so, but the reality gives them the big hit and realizes that the truth is far away from their expectation. Every year 2 million new traders starts their journey in stock markets but after spending 2 years, 98% of them quits after losing their hard-earned money.

The larger people quits just because they have wrong expectation from stock market. Of course, it is true that stock market is the ocean of money, but earning from the stock market regularly needs special attention, proper education and experience. Remember that it is the most sophisticated profession. If the right techniques are mastered you can earn from anywhere, anytime and you will achieve financial freedom.

To achieve financial freedom, you need to go a long way. Remember that, Stock market is not a destination but a journey. You should choose the smoothest path, such a way that you can sustain for a longer time without losing your money. The point is how much time is needed to become a successful Trader? The answer is not so simple; however, it depends on the individual's mindset, emotional strength, learning attitude, risk apatite, Process, trading system and depends on so many factors. On average it takes at least 5 to 6 years with full dedication.

When I say it requires 5 to 6 years, most of the newbies get offended with my answer. They asked me that We do not have that much time, if it takes such a long time and how can someone survive with the losses for more than 5 years. My answer to them is, how much time you have taken to become an Employee or a tax payer? Of course, more than 15 years of your study, Investment, mastering a particular job profile and then you become eligible. Think about the competition in each layer, the effort you have put on, also there is no certainty. On the contrary, in stock market you need to learn the art of trading, technical analysis, political situations, market behaviour, Government policy, central bank's attitude towards the economy, technological changes even environmental changes and many more factors.

Hopefully now you are understanding why it requires at least 5 to 6 years of your valuable time to become a successful trader. You do not need to trade for the money, initially you need to trade to learn. My suggestion is to trade only with one quantity of stock in cash segment during the learning phase. Do not go for future, option or index etc. Slowly increase the volume in Cash segment, once you become a complete Trader you can start trading on any segment, obviously every segment has their own dynamics and you need to learn the same. You do not need much time to master any other segment as you will become much more experience by the time.

During a Five to six years of span, you will witness a list of the events which will help you to understand the market behaviour and enrich your knowledge on the process. Some are listed below.

1. State election.

2. Centre Election

3. Global Political scenario.

4. War like situation.

5. Economic activities.

6. Speculations.

7. Natural calamity

8. GDP fluctuations

9. Repo rate for banking sector.

10. Fraudulent activity of the companies

11.Quarterly and Annual results of the companies.

12. Government's Budget

13. Any new technical innovation or special events (global pandemic)

14.Oil price fluctuations.

15. Government policy

Some of the events will happen every year and during all these events market behaves in different way, you need to experience, analyse and create wealth during these events. Continuous learning will only help you to become a successful trader.

Give time to your Learning and you will definately become a profitable trader.

Comments

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