Do you think you can become profitable trader in 1 month?
Newbie often thinks they can become profitable trader in 1 month. However, they quickly disappoint when after 1-2 months their profits still are zero. So I analyzed how much time it takes to be a profitable binary options broker.
How much time does it take to become a profitable trader? This question is probably asked by the every novice trader. If you believe the advertising on the Internet, brokers can make you a profitable trader in two weeks. If you believe a professional trader, it takes at least a couple of years. So whom should we believe?
The time depends on your abilities
In my opinion, the time depends on your abilities. First, don’t trust those who promise to make you a trader in two weeks. During those two weeks, you just know the basics about binary options and use some basic functions of the terminal. That’s all. However, such courses at brokers’ sites are usually free, so if you're a newbie, you can try them. However, you should know that you’ll be just a trader, not profitable.
There are also paid professional courses, but they are useless, and in many cases, it’s just a waste of money for traders. So, if you think that you can become a pro after some weekly courses, you are wrong. Have you ever thought why professional traders teach? They can earn much more from trading.
How much time did famous spend to become successful?
Successful and profitable traders argue that to become successful you can self-educate, and as a rule, it takes more than a year. In order to become a professional in any other field (except for trading), i.e., medicine, economy, etc., you need have to eight years or more experience, and this is normal. Somehow, people believe that you can become a successful trader in a couple of weeks or months.
However, this is not the case. You work with the financial market. It also requires training, a serious attitude, and most importantly, experience. Although universities offer the study of medicine or economy, there are no universities to study binary options. After all, Trader is a profession and a business all in one. So, remember the successful businessmen Steve Jobs and Bill Gates.
How much time did they spend to become successful?
If we analyze the biographies of famous traders, it becomes clear that they spent different times trading to become profitable. However, the average term is a few years of intensive training and practice. Of course, there are brilliant traders who got millions from the first deal. We aren’t such traders; we are usual.
Traders aren’t born; they are made. Therefore, if you are just starting to be interested in binary options, choose the timeframe, such as a year, and spend it on market research and practical trade. If you feel that trading on the market is your deal, make it your profession and main income source.