I don’t think there is any need to anticipate how long it will take. This varies a lot and depends on a lot of variables. But what is important is to realise (as you clearly have) that there are no short cuts to a lot of hard work and study.
The other aspect that you have clearly accepted is that trading is based on probabilities. And that means there willbe both gains and losses - and that the main aim is to ensure that the gains are greater than the losses. This is the core issue that underscores the role of risk/money management at all times. You really need to ensure you develop this alongside developing your strategy.
But there are some very basic features that are worth clarifying before you start your journey. One does not just “trade forex”. There are tons of different methods and approaches and parameters to consider. Here are a few to start with:
Are you a scalper, day trader, swing trader, long-term investor?
How much will you base your trades on fundamental and/or technical analysis?
How much will you base your trades on indicators and/or price analysis techniques?
How much time do you have for analysis?
How much capital do you have?
What pairs are you interested in?
How much do you prefer to automate your entry/exits or manage them personally?
These initial assumptions may well change as you go, but by profiling your trader style you can focus your learning on what you actually need to know to develop your strategy rather than just haphazardly drifting from one idea to another, looking for “something that works”.
By working these points on a demo account you can be more systematic in your learning stages which puts you in a better position when you start to handle the psychological issues when you go live…
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