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How Long Should It Take to Learn Forex

Learning Forex Trading: How Long Should It Take Me?

When you start investigating the currency trading markets, the question inevitably arises: How long should it take me to learn forex trading?

The answer to that question depends on a number of factors including how much experience you have trading other assets such as stocks, as well as how much experience you have conducting financial business on the Internet.

Nevertheless, there are certain stages that every forex online trader must undergo in order to not only learn forex trading, but profit from it consistently.

Learning Foreign Exchange Trading Takes a Lifetime

The fundamental truth of the matter is that successful forex trading is completely dependent upon your personal character, temperament, and most of all your self-discipline. The overriding importance of these factors is created by the nature of the currency trading markets, which are set up to capitalize on human emotion.

Needless to say, learning to improve your character, temperament, and self-discipline is a task that can, and for many people does, constitute the work of a lifetime. In this sense, learning forex trading requires many decades.

However, the lengthy timeframe for learning forex trading to the absolute maximum should not dissuade you from taking pips and profits out of the currency trading markets on a daily basis even if you have not achieved total mastery.

Is This a Hobby or a Profession?

As you begin your journey into foreign exchange trading, you will encounter people who view your activity as either a joke, a hobby, or some combination of the two. The reality though is that many of these unhappy individuals would be jealous of you if you are able to turn online currency trading into a profitable enterprise.

Fortunately it is well within your power to learn enough about forex trading to make some nice money. But you will never make any money if you adopt an unserious approach to your FX trading activities.

If you want to do what the forex pros do--and there are many such individuals--you must do things that the pros do the way that the pros do them.

A professional attitude towards forex trading may manifest itself in:

-- Backtesting your trading strategies
-- Keeping a trading journal
-- Researching forex news and views

Besides these specific habits, you will multiply your forex trading skills when you begin to understand Japanese candlestick charting. Candle charts were invented centuries ago to help Japanese rice traders decide how much rice to buy, when to buy, and at what price.

Candlestick charting has since become the pro forex trader’s number one weapon.

All the bank traders and all the successful on line FX pros use candlestick charting. These are the exact traders--and there are many of them--who will habitually and religiously jack you up if you step into the forex markets and are ignorant of candle chart techniques.

In fact, your ability to learn candlestick charts is directly proportional to your ability to learn forex trading.

In terms of a hard number time frame for getting to the level where you're working effectively with candlesticks, you are probably looking at a range of 1-3 months of forex study, assuming that you study at a rate of 1-2 hours per day.

The Joy of Knowing What You're Doing

Whether it takes you two days or 20 years to learn how to pull profits out of the currency trading markets at a satisfactory rate, there is no better feeling than knowing what you’re doing when you are trading the currency markets.

Three key traits of forex trading make forex knowledge a wealth-creating thing:

--Leverage. You can control large positions with a small amount of capital.
--Currencies trend. If you get a winner you can ride it to glory.
--Lifestyle. Forex traders who are successful frequently visit islands.

How long it will take you to learn forex trading is thus intimately related to how vividly you can envision your ultimate success as a forex trader. The clearer you see it, the more you want it. The more you want it, the faster you'll learn it.

Important Forex Information

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Forex trading hasn't always been around; understanding how it came into being can help you succeed in trading this market. Read about the history of foreign exchange trading.  arrow