Your Best Shot at Goal
If you do a search on Learn to Trade you will see many links to websites and articles. These will tell you what you need to learn, the best process to follow and many will offer you fool proof systems to trading success (don't believe those last ones). The point is that learning how to trade is very well documented. Less so is knowing when to learn.
Imagine you have a leak somewhere in your house. You know there is a leak because there is water on the floor. Let's say you do some diagnostic work and find a broken pipe which is the source of the leak (by this point you're pretty pleased with yourself). The problem is now that you are not a plumber so you can't do a permanent fix. Sure you can turn off the water at the mains and maybe even fashion a temporary fix (gorilla tape is always good, works on almost anything - other tape is available). But you need to call a plumber out to get the pipe properly repaired or replaced.
Now, some people might try to learn some basic plumbing on YouTube and try and do the fix themselves. Now this is a bit of a pressure situation because you have to deal with the leak so it's not the ideal time to learn. And it's exactly the same with Trading!
We've spoken to many hundreds of Traders over the years and we've followed them on their Learn to Trade journeys. What we've concluded is that if you want to learn to trade because it interests you, you have some spare time on your hands and you want to see if it can earn you money then your head is in the best place to learn. And given the psychology involved in trading, starting in this place gives you the best chance of success as you can keep relaxed and really open yourself up to enjoying learning. You're putting yourself in the top 20%. The best time to Learn to Trade is when you don't need the extra income
Because learning to trade when you need to make money from it does not often end well. Putting yourself under pressure to create an income while learning can be a recipe for disaster. It's hard to focus on making the perfect trade when all you can see is dollar signs in your head like a looney tunes cartoon character.
So if you want to be a successful trader in the future, take up trading as a hobby NOW. Treat it as a leisure activity, then you'll be relaxed and in the right frame of mind.
To make an income from trading you need to forget about money and focus on learning how to be a successful trader. That means learning trade set-ups and entry/exit points so that you know what a profitable trade looks like and how to manage your trading risk. Then it's all about baby steps: take one successful trade, then another, then another. Sure you'll always have some losing trades but over time you'll be able to reduce your losses on these. The key is to keep calm and build your confidence and if you don't have the pressure of needing to make money you will remain much calmer.
When you can string successful trades together and minimise your losses in Sim mode then you know you're on the path to profitable trading and you can think about going live. This process takes some people weeks, some months and some years. In fact if you ask a proficient trader they'll often tell you that the markets teach you something everyday! It's a bit like Tai Chi, your learning journey never ends.
So for your best shot at goal, start now, make trading your passion and then worry about making money.
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