We'll help you map out a plan to fix the problems in your trading and get you to the next level. Answer a few questions on our application and then choose a time that works for you.
BOOK YOUR FREE STRATEGY SESSION NOW >>"How long does it take to become a trader?" is perhaps the most frequently asked question among aspiring traders.
Some say it only takes a few days... just the time it takes to open an account with a broker and understand how to place orders.
And then some say it takes several years... because you must thoroughly understand how the markets work, technical analysis, and fundamental analysis.
In reality, as it often happens, the truth lies somewhere in between!
In this video, we try to understand how long it takes to become a trader, of course, not in the sense of "someone who randomly places trades", but "someone who knows what they are doing"!
Watch it now to discover:
•How much time it really takes to start trading
•What factors influence this time frame
•5 essential tips to speed up the process without dangerous shortcuts
•The experience of our students
Enjoy the video
Introduction
Hello and welcome back to this brand new video. Financial trading is a fascinating activity that attracts more and more people who want to make profits in the markets. But how long does it take to become a successful trader?
One of the coaches at the Unger Academy here, and with this video, I’d like to try to answer this question that is very common among those who want to venture into the world of trading.
Okay, so let's get right into it.
What does it mean to become a complete trader?
Alright, so what does it mean to become a trader? There is no exact definition or definitive end point as to when someone can be considered a full-fledged trader.
However, there are some signs and milestones that indicate progress toward becoming an experienced trader.
You definitely have a solid understanding of market dynamics and the factors that can affect prices.
You should be able to manage risk responsibly while protecting your capital.
You need to become able to control emotions. An experienced trader remains calm and disciplined even in times of volatility.
Having a trading plan with clear entry and exit strategies, with defined profit targets, but most importantly with discipline in following your own rules.
Awareness of your own limits and the limits of your own strategies, to know when to take a break, reduce risk, or avoid trading in certain market conditions.
Finally, be willing to learn from your mistakes and adjust your strategies accordingly.
So, it’s important to emphasize that becoming a successful trader is a continuous process of learning and improving. Even the most experienced traders are constantly educating themselves and learning about new trends and revising their strategies to stay competitive in the ever-changing financial markets.
The main factors influencing the duration of the journey
But, then, what are the most important factors that influence the length of the path to becoming a successful trader?
Definitely learning, which means a solid understanding of markets, strategies, and risk management.
Practical experience, which means gaining experience directly in the financial markets, perhaps experimenting with new strategies, analyzing the results, and, as mentioned earlier, also learning from mistakes.
The psychology of trading, because fear, greed, and euphoria can influence decisions and cause costly mistakes. So, learning to control your emotions requires self-control and awareness, but that can be refined with experience, and over time.
Discipline is the key to following your trading plan and sticking to set rules. So, discipline in trading requires mental strength and perseverance, which can also be refined over time.
Since trading involves significant financial risks, the expectation of profit should not be underestimated. In order to protect your capital, it’s imperative that you learn to practice proper risk management.
Are there any shortcuts?
So, all of these aspects, as mentioned earlier, take time. Perhaps each of us takes different amounts of time, depending on various individual factors such as experience, training or even temperament.
So, it’s only natural to wonder if there are shortcuts. This kind of narrative is often used by those who try to sell miraculous courses or systems that promise quick and easy success.
The reality, however, is that there are no magic formulas or miracle systems. One must always be critical of these promises of quick and easy gains.
Financial trading is a complex activity that requires serious commitment, study, practice and experience.
If you think about it, how could you do what the big players in the markets, like funds and banks, do with a few magic formulas? I would say it’s definitely unthinkable.
How long does it really take to become a trader?
So how long will it take? You shouldn’t be discouraged by the idea that it's a long and difficult road.
The reality is that there is no definite time frame for becoming a complete trader. The path to get there, as mentioned earlier, is influenced by so many individual factors such as experience, education, discipline, and the ability to adapt.
And some can start trading and making profits after just a few months, although it can take longer to gain a thorough understanding of the instruments and markets.
In any case, it’s good to keep in mind that a lot depends on both the time you can spend preparing and the method you work with.
But even after we have gained some experience, the learning process continues, because financial markets are dynamic and subject to change.
Tips for speeding up the process and maximizing your chances of success
However, if you follow a few simple tips, you can certainly speed things up and maximize the chances of success.
For example, look for structured, high-quality training.
Rely on an experienced trading tutor or coach to help you find the right path. Someone with proven practical experience and a responsible, realistic approach to trading.
Join a community of traders where you can exchange ideas with others who are following a similar path as you.
Sharing ideas, strategies or experiences with other traders can be extremely informative and motivating.
Spend time practicing and testing different strategies, perhaps in the demo version, so as not to risk real money.
Finally, keep a trading journal. It can be a good exercise to reflect on mistakes made and identify strengths or areas where you can improve. In fact, every mistake is always an opportunity for growth and improvement.
The experience of Unger Academy students
At Unger Academy we have several cases of successful students, whose testimonials you can find on YouTube, who with method and motivation managed to put our advice into practice in the best possible way and achieve the goal of becoming a trader in a really short time.
But there are also plenty of others who, with time frames related to their specific situation, have still managed to do it by finding the right tools and advice in the Academy to speed up the way, as shown by the many positive reviews we receive on Google and TrustPilot.
Well, guys, in summary, what we’ve established today is that to become a successful trader, you definitely need some serious commitment, some study and a lot of practice in a process of continuous learning and improvement.
This should not discourage you, because with the right method and the will to succeed you can be successful even in a very short time.
If you're interested in the world of systematic trading, I recommend you click on the link in the description of this video. From there you can watch a free presentation by Andrea Unger, get our best-selling book covering only the shipping costs or even book a free call with a member of our team.
If you enjoyed this video, please leave us a Like, subscribe to our channel and click on the notification bell to stay updated.
Thanks for your attention and see you next time!
We'll help you map out a plan to fix the problems in your trading and get you to the next level. Answer a few questions on our application and then choose a time that works for you.
BOOK YOUR FREE STRATEGY SESSION NOW >>Andrea Unger here and I help retail traders to improve their trading, scientifically. I went from being a cog in the machine in a multinational company to the only 4-Time World Trading Champion in a little more than 10 years.
I've been a professional trader since 2001 and in 2008 I became World Champion using just 4 automated trading systems.
In 2015 I founded Unger Academy, where I teach my method of developing effecting trading strategies: a scientific, replicable and universal method, based on numbers and statistics, not hunches, which led me and my students to become Champions again and again.
Now I'm here to help you learn how to develop your own strategies, autonomously. This channel will help you improve your trading, know the markets better, and apply the scientific method to financial markets.
Becoming a trader is harder than you think, but if you have passion, will, and sufficient capital, you'll learn how to code and develop effective strategies, manage risk, and diversify a portfolio of trading systems to greatly improve your chances of becoming successful.
