Jan 28, 2015
A question I get asked by some of my students, how long until I am successful at trading. It's a tough question to answers because it depends on your definition of success, and everyone is different. What is your risk tolerance? How well you follow the rules, your discipline, and time… you may have made profit yesterday but not today. For me my definition of success is consistency. No one will ever be right on every trade 100% of the time. But you should have as a goal to consistently be right 60 70% of the time. And also you are able to keep your losses very small in comparison to your wins. You have to make a commitment to learn, implement and at times you will see a negative trade the key is to fail forward to be successful. You must seek to understand what happened with each trade. It's a long process and you need to find that comfort zone, of when to trade, what to trade and how long to trade. Once you are comfortable then your confidence will start to build and you will increase your success.