Traders often wonder how long does it take to become a consistently profitable trader. This phrase is found in so many blogs. You came here because you also want to know the answer. Some say you can become consistently profitable in just a few months while others say it would take you years. What should be your expectations on how long it takes to become profitable?
There is circulating formula 90 90 90 that says 90% of traders loose 90% of money within 90 days. That’s about right generally speaking. This is true if you do not have a mentor and you do not have a strategy that you can rely on. Having a mentor will significantly reduce your learning curve towards profitable consistency.
I would want to give you a actionable answer, I understand not all will agree but at least I will try to not generalize to a point where there is no answer at all, like so many coaches do. I would want to hear a helpful answer.
Here it is
Speaking from experience, I want to suggest that time it takes to become consistently profitable is not very long and it depends on two factors.
Having a solid trading strategy.
I mean you write down your strategy to its details. Where you take the trade and where you avoid it. When you trade and when you close the lid and walk away. Save pictures of your general and A+ setups. You need to visualize what your favorite trade setups are. Put it all in binder and call it “Playbook“. Professional traders think like a Playbook. Read it every morning so your memory will be fresh to your setups. Your mind needs to remember and visualize your setups.
Lets assume you worked on your strategy carefully and you back tested it and determined the strategy is profitable. Now you need to “believe” in your strategy. That’s where second factor comes in
Habitually executing your strategy for 30 days.
When you execute your Playbook for 20-30 days straight, without deviation, I am willing to say that you became consistently profitable trader. Your job now is to keep it that way.
Sounds simple?
It is simple and its not. We traders always battle with our own emotions that prevent us from executing our own trading plan. Once you habitually executed your plan for 30 days, it means you conquered your emotions. You learned to practice your playbook. You just developed a habit that will catapult you into consistent success.
Its not our goals that take us there, its our habits we form, they take us to the consistently profitable destiny. Professional traders are habitual traders.
Think of Playbook as your daily mentor and your 30 days as your habit formation period to become a consistently profitable trader.
If you are looking for a scalping strategy, please consider using Bounce Method a scalping strategy that specializes in trading futures and uses NinjaTrader platform.
Having these 2 factors completed is a huge step towards consistency in your trading. I wanted to make my answer easy and actionable for you and didn’t want to complicate things. Of course there are other aspects to trading but if you focus on Playbook and Habits, I am sure you will have success.
