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How Long it Takes to Become a Successful Trader – 2021 Guide

Source: investinblockchain.com
Written by Michaell Walling

Thanks to the rise of modern technologies, there is a plethora of options for the ones who are interested in gaining knowledge, being up to date with all the trends and working hard. These options are what makes a difference in the global marketplace, erasing the geographical borders and allowing individuals to indulge in the world of innovations, no matter where their country is and no matter their nationality, citizenship or social status. Cryptocurrencies, trading and investing, DevOps, social media, coding – the list is endless. But every day, we witness the rise of professionals who are successful in their jobs, who quit their nine to five jobs and are now living the life they’ve always wanted. How is that possible? Continue reading.

The evolution of technology is the evolution of job opportunities

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The world as we know of today, didn’t exist 5, 10 or 15 years ago. Just imagine living without your smartphone or your easy-portable laptop, tablet or reading your favorite book without a Kindle. This was possible a while ago, but today, we live in a completely different environment, as well as our needs and our everyday routines. Along with technological innovations and advancements, another thing that has dramatically changed over time is the job market. Not only did many jobs disappear with time, due to the automation of regular tasks, artificial intelligence implementation and better working solutions, but the demand for highly-skilled, self-driving, creative individuals has grown enormously because the expansion of numerous markets led to a bigger need for dedication, discipline, inventiveness and expertise. As a result, there is a fascinating number of job opportunities and job titles. But there are also amazing opportunities for starting your own business and building your brand independently – by being your employer. For people who are born to be entrepreneurs, this is great news!

Is trading a good career choice?

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Before you pursue any career goal, you need to ask yourself this question. It’s the same with trading. When people think of trading, they usually consider this career to be something that is out of their reach, something reserved for only a small percentage of rich experts – business owners, Wall Street executives and others who have been in this field for decades. Luckily for all of us, it’s not the case anymore. Nowadays, the sources of knowledge are never ending and thanks to the rise of the internet, we now have unimaginable opportunities, whether these are YouTube channels of famous traders, e-books, countless online courses or even trading schools. This means that anyone enthusiastic enough to invest time, patience, self-discipline in order to make a living out of its passion – can do it and can expect to have a fantastic future. What does this mean?

This means not having a boss, not taking orders from other people and being completely in charge of yourself, your time and your income. This also means being able to work as much as you want to, having no fixed schedule and being able to design your work routine the way you find it necessary or comfortable. And finally, the earnings. Opposed to the traditional approach to work where your salary is fixed and it gradually grows, if you opt for trading and you become successful in it, you can expect enormously higher returns, both in the short-term and in the long term. This is the most common reason for people to start trading. Depending on the type of market you trade in and the amount of money you start with, you can calculate your monthly or daily returns and determine if you’ve made a good decision. According to the majority of traders, chances are – you have. Scalability is one of the most beautiful elements of trading. There are no limitations nor requirements for making profits. It all depends on you.

How long does it take to become successful in this field?

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Although fantastic, the job of being a trader is one of the most difficult ones. Why? It requires high levels of knowledge, a scoop of patience and some useful online tools and softwares to help you out. If you choose to rely solely on yourself, you need to be aware of all the ingredients for success. Every trader’s path is different, since every trader has their own routines, habits, goals and expectations, as well as work ethic, strategies and self-discipline. If you choose to take advantage of trading softwares, then you just need to do your research and choose the most reputable ones.

The elements of success

However, some general success elements needed for this career can help you to approximately determine how long it takes to become a successful trader. The first element is normally – the time you spend on learning the skills, building knowledge and finally, trading with real money. The more time you invest and the more experienced you get – the sooner you can expect to become successful. The second element on the list is your desired profit level. As you may already know, the lower return you expect, the lower the risk is. According to the experienced traders, the best option is to set a minimum of 5 milestones, and as you get to each of those targets, you can gradually increase your desired profit.

The process

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If you choose to take it slow and implement simple strategies, you can expect a couple of months to a couple of years to see the benefits of your trading. If you opt for complex, risky investments, you can expect to have returns in just a couple of days or even hours! Still, you need to be careful with your bankroll and build knowledge and experience to make sure you don’t lose your money by expecting too much too soon. Some say that you need to invest at least 10,000 hours to master trading, and we agree with that. On the other hand, you can use a trading platform that has all the tools you need to help you build successful strategies, track changes on the market and place trades. The good thing is the variety of trading platforms for beginners and professionals, so you can easily find the best fit for yourself. After you’ve done your research and chosen a reliable platform, you can almost instantly see the financial benefits of your trading. Good luck!

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About the author

Michaell Walling