How Much Time Do Your Require To Master The Art Of Trading

Discussion in 'General Trading Discussion' started by Adam Smith, Jul 31, 2017.

  1. Adam Smith

    Adam Smith Member

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    Trading is an art and if you can truly master it you can easily make a huge amount of money. However learning the proper method of trading is not all simple. Every trader starts their trading career with a big hope that you will earn a huge amount of money but one or few months they realize that this market will offer profit only to the right candidate. If you want to make money then you need to spend some time in learning the basic art of this market. The expert Australian traders often suggest the novice traders demo trade the market for at least first three months. Some of the new traders often think that by demo trading they will never be able to understand the true nature of the market. It’s true to a certain extent since you will never get the feeling of losing real money in a demo environment. But if you start with real money then make sure to embrace huge loss. It will become extremely hard for you to survive in this industry is you lose a big amount of money at the initial stage.

    Personal development
    If you truly want to consider trading as your full-time profession then you need to develop yourself. Most of the novice traders ignore this fact and execute random trades. But placing random trades will never give you profit rather it will cost you heavily. Try to read as many books as you can and go through free trading resource to enlighten your trading knowledge. At your initial stage, you will often get frustrated but you need to exhibit an extreme level of patience. Always remember that strict trading discipline and patience is the key to success in this industry. The market has nothing to offer for the novice traders who don’t have any patience at all.

    Time learn the market basically
    To be honest no can actually give you any time period for this. The length of the learning stage entire depends upon the traders as a different person have different learning capacity. But if you have strong determination and spend at least 4 hours a day in mastering the art of trading then you can expect to have a solid knowledge about the forex market within the first three months. But these are only the basic that can learn within this short time frame. In order to consider forex trading as your full-time profession, you also need to learn the advanced stuff. Some of the new traders often focus on the advanced stuff from the early part of their trading life but this not the right way. Without developing a solid basic you will never be able to develop a solid trading strategy.

    Three major type of analysis
    There are three major types of analysis in the forex market. The technical analysis section allows the traders to find the best trading spot. But when you do your technical analysis make sure that you use the higher time frame to avoid the false trading signals. The second type of analysis is the fundamental analysis which gives the traders a clear insight of the economic performance of a certain country. This analysis is often ignored by the novice traders but it’s very crucial for placing high-quality trades. Sentiment analysis is the last type of analysis which the traders can never learn by reading books. You will develop this skills with years of trading experience. Based on the combination of these three sets of rules you can easily develop a solid trading strategy.
     
    Last edited by a moderator: Aug 4, 2017
  2. kirtimeliwal

    kirtimeliwal Active Member

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    This is not simple to become a master of trading, an investor has to do hard work while trading. He has to follow the daily market news, learn the basics of the market to clear all facts related to trading. His efforts can lead him to the success in the share market.
     

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