How
long does it take to quickly learn Forex?
Before answering this question I am interested
in dissecting the question first. After reading the question several times
from TS I summed up the meaning of the TS question into a few simple analogies.
The first analogy.
Suppose there is a newbie trader who initially
does not understand the various terms in Forex trading such as balance, equity,
margin, free margin, candlestick, pip, a puppet to leverage. Well, TS
wants to know how much time it takes to study in a day so that traders can
understand all the trading terms beforehand.
Second analogy
Suppose there is a newbie trader who is just
learning and wants to achieve consistent profit levels as quickly as possible. Well,
TS wants to know how long it takes this newbie trader to learn to trade in a
day so he can reach a consistent profit level.
The answer to the first analogy
Understanding the various terms in the forex
trading world can be learned in just a few hours or a maximum of a day as long
as you have a good internet network. You just have to write down all the
new terms that are completely foreign to your ears and browse the internet
about each of the terms on various sites that discuss all important terms in
the world of forex trading.
The answer to the second analogy
To be able to achieve a consistent profit
level is much more difficult to answer. Every answer we submit must have a
weak point so it will be invalid. Suppose we answered that to achieve a
consistent profit level we must study 18 hours a day for one year. This
answer is very easy to dispute because there is no research to show that every
newbie trader who learns Forex trading for 18 hours a day for one year will
manage to achieve a consistent profit level.
Then how about studying 18 hours a day for two
years? Again, we cannot validate this answer because no research focuses
on checking Forex traders who are willing to study 18 hours a day for two years.
So that it can be concluded that the TS
question is a question that does not have an objective answer. This also
involves quite complex variables such as the trader's level of intelligence,
the trader's self-control ability, and many other variables. Imagine for
example there is a Forex trader named Ade who has high intelligence and can
find patterns from the price of a pair.
This led Ade to be able to book consistent
profits for several months, but then the economic situation changed drastically
and the pattern of the price in a pair changed drastically. It turns out
that Ade has difficulty predicting price movements so that the situation
changes drastically and experiences consistent losses. This drastic change
made Ade emotional and unable to control himself, so he entered revenge with a
large lot but resulted in a bigger loss than before.
The scenario above is quite common among Forex
traders so that we can conclude that achieving a consistent profit level
requires not only intelligence such as IQ but also the ability to control
oneself. The market always moves according to its wishes so our job is to
remain calm even though we have just experienced a loss. Even if you can
stay calm and do not take rash actions even though you have suffered losses for
days. This method will ultimately prevent you from greater losses and
bring you closer to a consistent profit level.
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