Trading Forex is part skill, part art. Sometimes we can follow harmonic patterns like a robot, sometimes we need to use our most human of skills – judgement and reason. Foreign exchange is inherently volatile; a currency’s price being set constantly due to pushes and pulls fed mostly by greed, fear and macro-economic events.
So how long will it reasonably take to learn to trade forex?
This depends on a few factors that luckily you can influence. The first main hurdle that I’m sure you’ve come up against already is getting a DECENT trading education. Without learning about trading, how do you expect to trade effectively? Of course this is easier said than done. As you’ve probably found already there are thousands of individuals on the web (and IRL) who promise you so much forex training and deliver so staggeringly little. Usually you can find the information for free elsewhere online like Baby Pips, not to mention any number of broker’s training documents. Plus of course we have a huge range of training guides and articles right here.
The second factor that will influence how long it will take you is how much time you can invest in this new venture. If you’ve got 10 minutes in a lunch break I would suggest it will take you a few years to learn trading theory. If you can dedicate an hour of solid research time every day, that will seriously speed up your trading education.
So if you find the right education and have a decent amount of time to invest in your trading training, how long will it take? Well in my experience I would guess the average learning time is around 6-24 months. This includes reading the theory of trading and utilising a forex demo account to hone your skills. That’s not too bad to learn something that could free you from the 9-5 forever now is it?