Your commitment to the learning process
I am often asked questions related to the time commitment necessary to achieve success in trading. It goes from: How long is-it going to take for me to know that I am ready to start my trading business? How much time do I have to practice every day? Do I have to practice every day? How will I know that I am ready? Is-it going to be long before I am ready to start trading?
Before I answer these questions, lets clarify something about trading and the time commitment.
I have mentioned before that I see trading as a 2 phases process: The Game of trading and the Business of trading. I also said that you need to master the game of trading before getting into the business of trading.
The Game of trading is that period of time where you are in the “practice mode”, the learning mode; where there is no money at risk although your practices are made with real data. The game of trading is where you develop your technical skills while discovering who you are as a trader and what trading style is compatible with your personality. It is also during your practices that you will learn to control your emotion so that you can master the Art of trading.
The Business of trading is when you get into trading for real and where your money is at risk every time you enter a market.
I often mention that you can’t improvise yourself as a successful trader. There is a learning curve to go through before mastering the Game of trading. If you jump the gun and get into the business of trading without been ready, you can be assured that the professional traders will make you pay price for doing so.
When people ask me: How long is it going to take for them to be ready to start trading? I presume they mean how long it will take them to switch from the Game of trading to the Business of trading? Although the question is legitimate, it is not the right question to ask for two reasons.
First, it is not a question I can answer. How can I know how long it is going to take when I don’t know the person; when I don’t know how much time he/she is willing to give to their trading practices; when I don’t know how discipline he/she will be in their practices; when I don’t even know what long means to them?
The second reason why it is not the right question is when asking this question, they already have in their mind “a time period” and it should be short. They are telling me that there is a limit of time that they are willing to give to trading and if my answer is not what they are expecting then they are not interested to learn trading. Which is fine with me.
My answer to anyone asking this question is: I don’t know. I clarify my answer by adding that if they are asking this question, they are probably not ready for trading. I suggest to them to comeback to trading when the time commitment is not an issue anymore; when acquiring and developing the financial skills necessary to make their dreams come true is more important than the time it will take to master these skills.
You can read on a picture on my site: The Art of trading is an Art of living. This affirmation means that trading should be part of your life as much as any other passion you have about life. Trading is not just another way of making money. Trading is an Art of living because it will bring to you a lot more than money. It will take you in a journey where not only will you discover who you are in regard to money and the relation you have with it but also who you are in regard to your values, your dreams and how much you are willing to commit yourself to them.
That’s what trading is all about and that is why the question about how much time it is going to take is not the right question to ask. The right question is: What kind of commitment do I have to give to trading so that I can start my walk toward financial freedom?
Your commitment to trading is not a matter of time but a matter of interest and passion. It not about how much time you will give to trading but how you will integrate your trading commitment into your life.
If trading is to become a regular and substantial source of income for you then trading should be integrated into your life as much as your actual job is integrated into your life. However, contrary to your job, with trading you are the boss. You decide how much time you want to give to your practices, when and where you will do them. That way you decide how long it is going to take to master the Art of trading.
There is no rule in regard to the time commitment to trading. Some people give their trading practices an hour a day while others will give it 30 minutes a day. Some people will give it 3 hours a week the same day where others will give it 4 hours a week over a 2 days period. There is no good or bad approach to your learning process.
Trading demands only that you give it regular quality time. Quality time been a period of time where you feel good physically and mentally. Trading cannot be a burden or an obligation if you want to have fun doing it. Trading must be a fun activity that you are looking forward to. A fun period of time because you know WHY you are doing it and Where it is going to take you: The attainment of your dreams.
Although trading should be regularly integrated into your life activities, a trading schedule is as flexible as you want it to be. Don’t forget, you are the boss. Giving less time to your trading practices with the right mental disposition is a lot more efficient and productive than giving it more time while feeling obligated to do it. Trading is just an added tool to your financial arsenal; it is up to you to decide how you are going to use it.
Just give trading the quality time it deserves and don’t worry about how long it will take for you to master it. There are methods and systems to evaluate your progress and to determine where you’re at in regard to where you want to be.
As long as you have fun learning to trade, time will not be an issue and faster than you expect, you will realize that you are ready to get into the Business of trading.
Bye for now!