This is a great question and one that does not have a specific answer, other than it is unknown. The reason that it is unknown is because everyone is different. Everyone has different knowledge and experience levels that may or may not be relevant to trading.
Here is the fastest way to become a successful day trader:
Find a mentor, a successful trader, whom is willing to teach you. Next, follow their tutelage to the letter, do not deviate. Someone that has been there before knows what it takes can speed up your learning process exponentially. Again, the key is your willingness and ability to follow their specific directions.
Everyone wants to be successful from the start, yet few are. I can tell you that it takes much more consciousness than brute force. Success trading is much more about finesse and going with the flow than it is about force and resistance. In fact, force and resistance are surefire ways to lose all your money in trading.
Successful trading has nothing to do with how bad you want it or how hard and long you are willing to work. Yes, these attributes are helpful but successful trading is all about formulating a winning strategy and following it over and over and over again. At the beginning of your career, yes, you need to work long and hard to put in the time to learn the basics. But, after that, it is all about discipline, stamina, money management, and perseverance.
If you can follow these few simple suggestions your learning curve and chances of success will be greatly enhanced:
1. Find a mentor – Find someone that has been through the ups and downs of trading and can provide you with some support. There is no substitute for real world experience, so don’t try to reinvent the wheel.
2. Develop a strategy- You need a plan.
3. Be willing to follow your strategy – This is much easier said than done.
4. Money Management – Money management is the most important characteristic of any trading strategy. Often times it can make a losing trading strategy profitable. It can also make a winning trading system go broke if your bet size is too big.
5. Discipline – The only way to succeed is to define your edge, this is your strategy and money management, and work it over and over and over again.
By Jason Dekker of http://trading-strategy.com
To learn more from a successful trader visit: http://www.trading-strategy.com/newsletter.php

March 9th, 2010
Money maker 