Forex Millionaire: The

Concepts Made me $15 Million

Trading

Dapo willis
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9 min read
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Dec 19, 2023

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The Key to Achieving Forex Millionaire Status Goes Beyond
Practice and having the best trading Methodology

Many claims that constant practice and employing the best

trading methodology are the secrets to becoming a Forex
millionaire. However, the reality is far more complex.

I’ve dedicated substantial time and effort to test over 150

trading indicators, experiment with more than 20 trading
strategies, attend numerous seminars, and extensively
research online.

Yet, none of these endeavors have led me to the desired

outcome.
Why is that the case?

It’s because the path to Forex trading success, particularly to

become a millionaire, goes beyond practice and finding the
perfect trading methodology.

So, what truly is the secret? The investor’s perspective.

Let’s be clear: we’re discussing becoming a Forex

millionaire, not someone with a net worth of $1 million
through alternative ventures like real estate or other assets.

In this context, I’ve studied the approaches of over five

highly successful financial traders who have made fortunes
from trading — individuals such as George Soros, Paul Tudor
Jones, and Bruce Kovner.
What I’ve discovered is that these individuals view trading as
an investment opportunity rather than a mere speculative
game.

Their focus is on long-term profitability and sustainable

growth, rather than short-term gains.

What does this mean?

These billionaire traders understand the principles of wealth

management and apply them to their trading concepts, which
has enabled them to achieve extraordinary financial
milestones through trading.

Believe me, these principles still hold in today’s financial

landscape.

However, what do all these billionaire traders have in

common? A hedge fund management company.

What does a Hedge Fund Management Company do?

They trade using investors’ capital and share the profits,

utilizing the concept of “compounding returns.”

How This Concept Made Me $15 Million Trading

Approaching the market from an investor’s perspective is a
highly significant concept in trading.

It means recognizing that the forex market is not merely a

place to make money, but rather an opportunity to grow your
capital.

Here’s the truth:

You cannot achieve wealth through forex trading solely with

your capital; you need the support of investors’ funds. That’s
why forex billionaires like George Soros, Paul Tudor Jones,
and Bruce Kovner all have hedge fund companies.

This approach serves as the foundation for embarking on the

journey of becoming a forex trader and working towards
millionaire status. Why? Because the larger your capital, the
greater your potential returns per successful trade.

I can explain.

Using a risk-to-reward ratio of 3:10, we risk 3% of our capital

to potentially earn 10% for each trade.

For example, if you trade with a position size of $1,000, you

would risk $30 to potentially earn $100.
To maximize profits, we focus on trading less frequently. This
means selecting only the best trades each month.

For every five successful trades, we achieve a 50% return on

our investment, totaling $500.

Let’s do the math.

After five successful trades in a month, you would achieve a

50% return on your investment, amounting to $500.

By consistently selecting the best trades each month, you

would reach a 100% return on investment within a month.

Over 12 months, your return on investment would reach

600%, equaling $6,000.

While it’s inevitable to encounter losses, if we subtract the

initial $1,000 from the $6,000, we’re left with a 500% return
on investment, amounting to $5,000.

By repeating this process with a $10,000 trading account, a

500% return on investment yields $50,000, and with a
$100,000 account, it yields $500,000.
There is no other investment vehicle in the world capable of
producing such impressive returns, which is what makes
trading superior.

A study by Barclay Hedge revealed that, on average, hedge

funds in its universe generated net annualized gains of 7.2
percent.

Even billionaire forex traders like George Soros and their

hedge fund companies achieve an average annual return on
investment of 20%, and their investors are happy with it.

However, it’s crucial to remember that trading comes with

inherent risks, so it’s advisable to manage expectations.

The higher your capital, the lower the risks and the greater
the investment returns.
Now you understand the essence of this concept.

Rather than attempting to turn a $1,000 account into

$100,000, which could expose you to unfavorable market
conditions and potential account loss, it’s wiser to focus on
compounding returns and secure larger funds.

That’s how you pave the way to becoming a millionaire.

Now, back to my story.

Here is the video version.

The Game-Changing Phone Call

In the final quarter of 2021, my life took an unexpected turn
with a phone call from one of my dedicated Forex students,
Josh.

Josh had been following my YouTube channel, where I shared

my trading style and accurate market predictions from my
trader talk videos.

He was impressed by my expertise, so he reached out to

inform me about an incredible opportunity that could
reshape my career.
The Multi-Million Dollar Fund Management Company

Josh revealed that a prestigious multi-millionaire fund

management company he was associated with was seeking a
skilled Forex trader to manage funds on their behalf.

After numerous discussions, they invited me for a meeting

that had the potential to propel my career to new heights.
A Luxurious Journey and Unforgettable Experience
To my greatest surprise, the company spared no expense in
making me feel welcome.

Not only was I whisked away to the meeting on a private jet.

an experience that exemplified the magnitude of the
opportunity that awaited me, but I was also lodged in the
most expensive hotel in Doha. The Four Seasons Hotel!

Sealing the Deal

During the meeting, I had the chance to showcase

my trading skills and demonstrate my proficiency in
navigating the complex world of Forex.

I presented my trading track record and shared valuable

insights that resonated with the public.
The company was thoroughly impressed by my achievements
based on my track records and the depth of knowledge I
possessed.

They displayed unwavering confidence in my abilities by

entrusting me with a substantial capital of $15 million to
trade on their behalf.

This remarkable opportunity not only transformed my career

but also enabled me to generate $15 million in profits
through Forex trading.

If you’d like to delve into the full story, you can watch it here:

My background and experience with Forex Trading

I am Dapo Willis.

I started trading the forex market when I was 17 and since

then, I have gathered experiences enough to allow me to
become successful trading the forex market.

Here is the link to an article where I detail my background

and experience with forex trading.

So, what trading approach and strategy do I use that made

these investors invest in my trading?
My Trading Approach and Strategy
My trading approach involves the use of top-down analysis.

You may ask, What is Top-Down Analysis?

Top-down analysis involves the use of higher time frames

such as weekly and monthly, to anticipate the overall
direction of the market, and then take my entries on lower
time frames like the 4-hour or 1-hour in the direction of the
higher timeframe.

So here is how I do it

I make use of the monthly timeframe to draw my key levels in

the market.
Next, I drop lower to the weekly timeframe to identify chart
patterns.

I then go to the daily timeframe to check for more convincing

patterns and/or place my entries.

In this case, the daily timeframe is my entry time frame.

So what strategy did I use to enter into this trade exactly?

It was Head and Shoulders + retest.

Let’s analyze more critically.

As you can see, the market had formed this beautiful head
and shoulders pattern on the weekly timeframe, which
became more obvious on the daily timeframe.

As you can recall, the head and shoulders pattern indicates a

change in the direction of the market.

The break and retest of the neckline plus the pin bar that
was formed on the daily timeframe, all alluded to the fact
that the market was changing its direction.
And I took my entry accordingly.

Simple and without the use of any indicator.

So, this is my approach and how I trade the forex market.

I understand that just one example would not be enough to

illustrate how I trade.

So, if you want to know how I combine different price action

patterns to deliver an entry, then you should check out this
article.

What You Should Do To Make $15 Million In Forex

Trading.
In this section, I share with you 3 major things you need to
do to make $15 Million from Forex trading.

Invest In Your Education

Achieving a $15 million profit from trading forex requires a
solid foundation of knowledge and expertise.

Your ability to interpret market movements and navigate the

trading arena relies heavily on your understanding of market
dynamics.

To acquire this essential knowledge, it is crucial to invest in

your education.

Seek out reliable sources such as seminars, webinars,

courses, and even free educational content available on
platforms like YouTube, including my own channel.

To facilitate your learning journey, the Forex Mastery

course has been specifically designed to provide you with
comprehensive knowledge and the necessary skill set to
navigate the complexities of the Forex market.

Additionally, my free YouTube channel offers valuable

resources, such as Traders Talk, where I release weekly
videos discussing potential market opportunities with traders
and how they can leverage them to their advantage.

By investing in education and continuously expanding your

knowledge base, you enhance your ability to make informed
trading decisions and increase your chances of reaching the
remarkable milestone of generating $15 million from forex
trading.

Master Your Trading Strategy

Once you have gathered sufficient knowledge of the market,
you then need to master your trading strategy as this will
enable you to get in and out of the trades profitably in the
long run.

Mastering your trading strategy and sticking to it would

automatically attract investors to you.
Trading Journal
From my story, you can see the importance of having a
trading journal.

It was my well-documented trading journal that those

investors accessed that gave them the confidence to invest
such a colossal amount with me.

So, for you too to m15 Million dollars lars in trading, you
need to have a well-packaged trading journal that can be
sent to investors.

My Forex Mastery students have a dashboard where they

can send in their journals so that we can access, and provide
investors for them.

Can Forex Trading Make You A Millionaire?

The answer is yes! Forex can make you a millionaire if you
are a hedge fund trader with a large sum.

But forex from rags to riches for the majority is usually a

rocky and bumpy ride which often leaves some traders in
their dreams.

Here’s what you need to keep in mind;

While forex trading can provide you with opportunities for
significant profits, it is crucial to approach it with caution
and a realistic mindset.

Many factors, including market volatility, economic

conditions, and unforeseen events, can impact your trading
outcomes.

Always assess your financial situation, risk tolerance, and

investment goals before engaging in forex trading.

Pullback Trading: The

Definitive Guide
When the market is on a trend for a longer period, it either
forms a higher-high, higher-low, or Lower-high, lower-low.

With that, you would be eager to hop into a trade in the

direction of the trending market, right?

Of course not! And that’s because the trend is your friend.

But you need a strategic way to get your perfect entry point
into the market.
It can be a retest to minor support or resistance level. So you
can get a better entry and ride along with the trend.

The pullback is the trading technique that helps you as a

trader to do precisely this.

It helps traders hop into trades strategically, so as not to

miss out on the trending market.

In this article, you would be learning;

 How pullbacks can help you get a perfect entry point

in the market
 Types.
 How to trade using pullbacks.
 Difference between pullbacks, retracements, and
reversals.

Let’s dive right in.

What Is The Meaning Of Pullback?

Pullback refers to a temporary pause or halts in the market.

It means, that when a currency is trending impulsively, a

temporary pause or halt in the overall direction of the market
means a pullback has occurred.
The question now is “What causes pullbacks?”

“How and Why do they occur in the financial market?”

That leads us to

Price Action Setups Behind Pullbacks Effects.

Here is what usually happens, When the market is

impulsively trending upwards (Higher-high, higher-low).

Most traders and institutions have a profit target in their

minds which is often common.

Let’s take a bullish scenario as an example.

When these traders or institutions take out their profit at
specific levels, the strength of the bulls begins to decline and
the sellers would have an edge, temporarily.

This action of the bulls in the market causes the price to

change its direction temporarily.

Thus, creating opportunities for buyers to hop into trades

while trading in accordance with the overall trend.

The next question now is.

How can you use that as an advantage to get a perfect entry

point in forex?

And that leads us to the next section,

How To Identify Pullbacks

Let’s face it, Identifying pullbacks can be easy as ABC.

And that’s because the market doesn’t just move in this

uptrend manner.
Instead, it makes a temporary pause or change in direction of
the market.

And that’s the Good part.

The other side is, how do you spot them out before it
happens?
First

 Identify a strong impulsive move, either upwards or

downwards
 Look left to the most recent support or resistance
zone
 When the price is returning to your identified zone,
make sure that the price is coming back slowly to
that zone
 At that zone, be sure to see a rejection or reversal
candlestick such as a hammer or engulfing candles.

There you have it, as simple as that!

Types of Pullbacks
Now we know what pullbacks are and how to identify them
on the charts.

But we don’t know how often they occur

And that is because pullback formation varies depending on

the market condition.

And I will be covering all of that in no time.

To be honest, there are quite a lot.

But most of all, I’ll be covering only (4). why?

They are the most prominent pullback setups I look out for
that provide me with a 90% win rate.

#1 Breakout Pullbacks:

This is one of the most popular types of pullback traders use.

It occurs whenever the market wants to change its overall

direction at the support or resistance level.

You would want to watch out for breakout pullbacks where

price forms reversal patterns such as Head and Shoulders,
Double Tops, and so on.

How about we take a look at the scenario below?

In the above scenario, You would notice that the price had
already formed a Head and shoulder pattern and then broke
out below the previously sustained support.

Now the question is, “Do I go short whenever this

happens?”

This leads us to.

How To Trade Breakout Pullbacks:

Here are six simple steps for you to follow.

First, Identify a change in the overall trend of the market,

using reversal price patterns such as Head And Shoulders,
Double Tops, Triple Tops, etc.
Ensure the price has broken below the neckline of the
pattern formed.

Wait for the price to come back to retest the

neckline/support level.
Now at the neckline, Make sure you see rejection or a
complete reversal candlestick patterns formation such as a
hammer or engulfing.

After a close of the candle, you can then place your trade.

Stop loss should be above the support level.

Or you go in a timeframe lower to find a more clear entry.

NICE!

#2 Trendline Pullbacks:
Trendlines are not uncommon among traders.
They are one of the most reliable and popular trading
approaches to the market.

But when it comes to spotting trendline pullbacks, it’s

relatively easy.

It usually occurs when the price made 3 touches on a

trendline and a breakout occurs, and the pullbacks follow.

As shown, a bullish trend.

The question now is,

“Do I then take my trade immediately price has made

three successful touches?”
The answer is No! and That’s why you would learn.

How To Trade Trendlines Pullbacks using these 5 steps

Draw your trendline, ensuring at least three perfect touches

Wait for the trendline break.

Also, the price must come back to retest that trendline
Take to the cognizance of how to price returns to the
trendline

Place your trade when the price forms reversal patterns.

Here is a typical example;

#4 Pullback with Fibonacci:

One of the best tools for confirmation of pullback in technical
analysis is the Fibonacci Retracement.

It has proven to be a very reliable tool for anticipating where

prices could potentially react from.
How To Trade Pullbacks With Fibonacci

The following are 5 simple steps you should follow when

using Fibonacci with pullbacks

 Identify an impulsive trend in the market

 Identify obvious swing high and swing low
 Draw your Fibonacci from swing high to swing low
( in the case of a downtrend ) or from swing low to
swing high ( in the case of an uptrend)
 Make sure that the price retraces back to at least
50% of the Fibonacci.
 Then place your trade.

Here is a perfect example

You’ve made it up to this level.

Now it’s time for us to make comparisons.

Pullback vs Retracement vs Reversals

The above terms, however similar they might be but are
different from each other.

Curious, right? Let’s find out.

You must have been very well acquainted with pullbacks by

now.

Once again, here is how it looks.

So, let’s move on to the other terms.

Retracement

Retracements are also temporary changes in the price

overall trend but it minor than the pullbacks.

You should be aware that while pullbacks take a couple of

candlesticks to complete their change in direction,
retracements involve more candlesticks than that pullbacks.

Retracements are similar to pullbacks.

Reversals
Reversal is the complete change in the overall direction of
the market.

For instance,

When the price continues to make higher highs and higher

lows, it signifies an uptrend, right?

But when you notice that the price has broken below the
previous low, with a full body candle close or with a reversal
price pattern, the price is telling you that it wants to change
its direction.

Hence, showing a possible reversal in the overall trend.

Note: Some pullback might indicate the beginning of a new

trend.
That said.

You should, therefore, place your stop-loss at the point where

you would be convinced that the price would reverse
completely.

And that’s about it for reversals, retracement, and pullbacks.

Frequently Asked Questions (FAQs)

Can I Trade Pullbacks With Support And Resistance?

Of course, you can! Support and Resistance are the
backbones of all strategies.

A combination of both would increase the profitability of you

having successful trades.

What is the best tool for trading pullbacks?

I don’t use indicators, but I have passed through the stage.

That said, I would advise that you combine Fibonacci

pullbacks with any other strategy.

The two work best together.

How do I know where pullbacks could potentially react
from?
Easy, you can use Support and Resistance or the Fibonacci
Retracement tool.

They have a high profitability rate.

What is the best timeframe to use when trading

pullbacks?
As I always recommend, Do your top-down analysis from the
higher timeframe and then scale down to the lower
timeframe for entries.

That said. It is best you identify pullbacks on the 4-hour

timeframe minimum.

Conclusion
I hope I have been able to broaden your knowledge about
pullbacks and also, show you how to trade using pullbacks.

Note that reading alone isn’t enough, you have to practice so

as to get used to seeing them in your charts.

I hope you enjoyed this article, if so subscribe so as to stay

updated.
Also, if you have any questions, comment down below and let
me know your worry.

That said. I wish you good luck as you journey in your trading
career.

How To Grow A $10 Forex Trading Account?

Growing a $10 Forex trading account doesn’t have to be
complicated.

It’s about finding the right trading methodology and patiently

waiting for the best trade setups to align with the market
direction.

You can stack on those setups with the confidence that the
market will trend in your favour (more on that later).

With that, the Forex market is known for its volatility, with
an astonishing $7 trillion traded daily.

Thanks to retail brokers that offer high leverage, even

traders with small accounts can control larger positions with
limited capital.

While this leverage can amplify profits, it also comes with

increased risks and potential losses.
However, with proper risk management and a strategic
approach, it is possible to navigate the Forex market and
grow a small account.

In this article, I will be explaining in detail, the most realistic

method you can deploy to grow your $10 forex trading
account.

Let’s dive right in.

Getting The Right Education:

If you’re considering engaging in a business that you have
little or no prior knowledge about, it’s going to be a huge
failure.

Well, the same principle applies to Forex trading.

To be successful in Forex trading, you need the right

education.

The truth is, you can not live long enough to figure out the
nitty-gritty of trading all by yourself, so you need to learn
from someone who has been successful in shortening your
learning curve in trading.
It’s also essential to thoroughly research the person you’re
considering learning from to ensure their credibility and your
success as well.

Ask yourself questions like:

 How many years of active trading experience does

this person have?

 What is their track record of success in the Forex

market?

 Are they genuine experts or just fake Forex gurus

trying to take your money on social media?

With these questions in mind, you can make an informed

decision about whom to learn from.

To make your search easier, I am proud to offer the best

Forex trading course available.

With over 12 years of trading experience, I have developed

a Forex mastery program that has been proven profitable for
my students.
By taking this course, you not only gain access to the best
knowledge in the Forex industry but also learn a profitable
trading strategy that has been successful for over a decade.

Here is also one of my students who leveraged the trading

methodology I taught in the Forex master program to pass
his MFF prop firm account.
I’m not forcing this course upon you, but I’m confident that it
is the best Forex trading course available.

By enrolling, you can equip yourself with the necessary

knowledge and strategies to excel in the Forex market.

That said.

Click Here To Learn More On My Forex Mastery Course

Performing Top-Down Analysis:

The top-down analysis approach is a straightforward process
of analyzing the market from a higher time frame and then
identifying the market direction to trade in lower time
frames.

This approach proved to be incredibly profitable for me, as I

made $80,000 on my trading accounts, thanks to the top-
down analysis technique.
Even one of my students also grows his $10 forex
account using the same trade and top-down approach.
And it all started like this.

I plotted key levels on the higher time frames, such as the

monthly and weekly time frames.
I noticed that the market was in a clear downtrend direction,
characterized by lower highs and lower lows.

Based on this analysis, I expected further lower lows in the

coming weeks, as illustrated below.
With this insight, I confidently know it was a sell order,
anticipating a 1000 pip drop in AUDUSD.

This trade ultimately resulted in substantial profits,

showcasing the effectiveness of the top-down analysis
approach in identifying profitable trading opportunities.

Spot Potential Entry & Exist Points:

By utilizing top-down analysis, I was able to determine that
the trade direction was sell, which allowed me to focus solely
on potential selling opportunities in lower timeframes.

Next, I plotted a counter-trendline in these lower timeframes,

which is one of my favourite aspects of trading in terms
of entry and exit points.
Counter-trendlines serve as a safeguard against market
manipulations and premature trades, thereby aiding me in
identifying sell trade opportunities using my entry and exit
strategy.

Now back to the case study.

I waited for a counter-trendline break.

Placed my sell trade.

Currently stacking on that trade as well.

That was how I was able to achieve that.

Want to learn my strategy, Click Here To Learn More On

My Forex Mastery Course
Trade-In A Treding Market:
To be able to grow a small or a $10 forex account easily, you
need to trade in a trending market.

That is because it makes it easy for you to get nice entry and
exit points and also identify your potential profit targets.

And that goes by the saying, the trend is your friend.

Just like my case study earlier, I wouldn’t have grown that

account if it wasn’t in a trending market.

That goes by the saying, the trend is your friend.

Chart Time:
Merely obtaining the best Forex trading course does not
guarantee immediate success in growing your $10 account to
$1,000.

It requires extensive chart time and practice to apply the

knowledge you have gained effectively.

This process takes not just days, but several weeks of

consistent effort.

The more you familiarize yourself with various price

patterns, the more comfortable you become in recognizing
trading signals.

It is crucial to practice and become accustomed to the

concepts you have learned so that you can make informed
trading decisions based on the knowledge you have acquired.

With enough practice, you will develop the ability to quickly

identify market signals through price action, allowing you to
place trades with confidence.

It takes time and effort to gain proficiency in Forex trading,

and consistent practice is essential to enhance your skills
and increase your chances of success.
Remember, it’s not just about acquiring knowledge, but also
applying that knowledge through practice in real trading
scenarios.

Having A Proven Profitable Trading Strategy:

To be successful in any business, having a competitive edge
is crucial.

Similarly, in Forex trading, a well-defined and effective

trading strategy is essential for success.

A profitable and reliable trading strategy can give you the

edge you need to be able to grow your forex trading account.

Therefore, it is imperative to have a proven and tested

trading strategy with a high success rate.

This way, you can trade with confidence, knowing that you
are using a methodology that has consistently yielded
profitable results.

Risk Management:
Although the Forex Mastery course offers the best approach
to managing your risk and money, I will provide a brief
overview of it.
Similar to running a business, trading Forex involves risk,
where calculated investments may yield profits.

To thrive in Forex trading, it’s crucial to have sound money

and risk management strategies.

Even when trading with a small amount such as $10, it’s vital
to manage the funds efficiently.

For small capitals like $10, risking a maximum of 5% per

trade is recommended to avoid losing all the funds in just a
few trades.

In essence, managing risk is essential, regardless of the

trading capital size.

Furthermore, to succeed in Forex trading, traders must also

prepare their mindset to cope with market
uncertainties, commonly known as trading psychology.

It’s important to know what not to do and to possess certain

qualities.

Consistency:
One of the crucial components of a successful trading career
is consistency.
It’s a well-known fact that the Forex market evokes various
emotions in traders.

Some may become frustrated and even destroy their

computers when the market doesn’t behave as expected.

Others might get too excited and make mistakes while

analyzing subsequent trades.

And unfortunately, some may treat Forex with a gambling

perspective.

However, to grow a $10 trading account, consistency is vital.

That is because, the more time you spend with the market,
the more experience you gain as a struggling trader.

It’s important to keep showing up and never give up,

regardless of the market’s ups and downs.

Do Not Chase After Losses

In growing a $10 account or even any size of the account,
you do not want to chase after your losses or try to make
what you have lost in the market.
This is mostly attributed to greedy traders, who are not
willing to lose any amount in the market.

And like I always say, “Loss is a cost of learning.”

Therefore, you must not chase after your losses.

If you have had losses and it has gotten to the minimum risk
your trading account can hold, then stop trading.

The end result of this is usually compounded losses. Losses

upon losses, which you would not want to put yourself
through.

Trading Journal:
The absence of a clearly defined trading journal is what
hinders the growth of many traders.

A trading journal consists of your clearly defined and written

trading strategy, risk management, and return on
investment.

Having a journal not only helps you execute trades but also
helps you to track your trading journey.
It helps you to easily review how well you have been
performing as a forex trader and it exposes loopholes and
where there is a need for improvement on your part as a
trader.

Focus On The Process:

In every trade, you must always place more focus on
execution and risk management rather than the monetary
outcome of the trade.

Traders who make money their focus or want to get rich

quickly only, tend to lose money at the end of the day.

If you follow your laid-down strategy, then money will come

after. You must always focus more on the process of
execution rather than the money.

Now It’s Your Turn

What did you learn from today’s post?

What issues are you facing when growing your small

accounts?

Are you trading on a trending market? do you perform the

top-down analysis?
ow Long Does It Take To Learn Forex Trading?
The saying goes, seeing is believing right? Of course.

Let’s look at how long it took some people to learn forex as

shared by themselves when asked.

James Steenkamp from Quora wrote,

“It took me about 4 years to fully learn it. It’s not easy but it
needs a lot of hard work. I made my first million through
trading”

Mikey Hawke also testified and wrote,

“I would say about 3–4 years.

There is an old adage that says, it takes around 10,000 hours

of practice to become proficient at anything.

And if you do the maths, that’s approximately equal to a 3-

year University degree.”

We can see from here that while it took someone 4 whole

years, it took another 3 to 4 years to learn forex and become
profitable.

So, how long does it take typically to learn forex?

According to a recent study, it takes an average of 12 months

to learn forex and become profitable and independent.
Knowing this now according to a recent study, the question
now is, “How Long Will It Take For You To Learn
Forex?”

4 Factors That Determine How Long It Will Take You To

Learn Forex
The length of time it takes you to learn forex depends on the
following factors:

 Dedication

As a person, your commitment to learning and growing as a

trader is similar to stoking the fires of your trading engine.

This means, that the more you fuel it with dedication, the
faster you will progress.

 Mindset

The right mindset in trading is like a favourable wind that

propels your ship forward, thereby making the journey
faster.

Acknowledging that trading is not a get-rich-quick scheme is

important. Instead imagine trading as a voyage that demands
time, dedication, consistency and hard work.
  Source Of Information

The source of your information or education is like choosing

your crew.

If you depend on an experienced mentor, you can

significantly speed up your journey.

This is the reason why The Forex Mastery Course have been
creatively established.

 Practice

Practising is like honing your sailing skills.

The more you practise, the more proficient you will become
in handling your trading ship.

The Challenges Of Learning Forex

With every endeavour comes some traps targeted at making
one fail and as the saying goes; the day you know you’re
insane, is the day insanity leaves you.

Therefore, the challenges of learning forex are so subtle that

if you’re not self-aware at all times, you could be engulfed in
the bad habits that make traders fail.
Some of them are:

 Greed,

 Revenge Trading,

 Overleveraging,

 Fear of missing out and so much more

The ones mentioned above are the major challenges that you
can face when learning forex.

Now that you’ve known them, avoid them at all costs.

Having known these challenges, the next thing you would

want to know is how to speed up your learning process,
right?

Good.

Speeding Up Your Learning Process

While learning to trade Forex can be a solitary journey, you
don’t have to go through it alone.

Below are six steps that can help you accelerate your
learning curve:
  Having the Right Mindset

Just as you tune your engine for optimal performance so also

is understanding that success in trading requires patience
and perseverance is key.

It’s not a sprint; it’s a marathon.

 Get the Right Mentor:

Having a mentor is like having a seasoned captain who

knows the seas.

They can share their experiences and mistakes so you can

avoid them, and provide guidance and motivation when the
journey gets tough.

 Expect the Unexpected

The “unexpected” in the forex industry are losses that are

incurred even when we follow ardently all our trading rules.

Losses can be likened to temporary setbacks, like stormy

weather during your voyage.

They are part of the journey, not the destination.

Learn from them and adjust your course.

 Plan Your Trades

Planning your trades is like your navigation chart. It helps

you stay on course and avoid impulsive decisions.

Emotions can lead to detours, but a well-thought-out plan

keeps you on track.

 Avoid Emotional Trading

Emotions can be like unpredictable winds and emotional

trading can lead to rocky seas.

Trading should be based on strategy, not feelings.

Take positions when the market shows a clear direction, not

when emotions dictate.

 Risk Management

Risk management is like compasses that help a sailor stay on

course.

It will ensure you don’t stray off course.

Proper risk management limits losses and helps you trade
with an investor’s mindset, not a gambler’s.

Conclusion
In Forex, it is important that you understand that you will not
win every trade.

The journey will have its fair share of challenges, but with
the right approach, dedication, and a steady hand on the
helm, you can navigate the Forex seas and find success.