"It will probably take you something like 5 years to become consistantly profitable, assuming you have the talent. It's not about the strategy, it's about the psychology. You will be your worst enemy in those upcoming years. There is no shortcut, you'll have to make it through. But the reward is great if you survive.
Also, it's a bad idea to set such goals like "$5000/per month". You can't control that and when you fail to recah the target, it will only cause you to do stupid mistakes like overtrading or using too high leverage. Even if you reach profitability, there will be losing months and you'll need to have savings or additional business to cover that. Consistent profitabily means following a clear business plan and realizing returns, and taking into consideration the timeframe of your trading. For example, if I'm a position trader who takes 20-30 trades per year looking to catch the big moves, it is possible I'll have several losing months, but I still end up with a nice return at the end of the year. If a daytrader had 6 losing months in a row, that would just be horrible"
Also, it's a bad idea to set such goals like "$5000/per month". You can't control that and when you fail to recah the target, it will only cause you to do stupid mistakes like overtrading or using too high leverage. Even if you reach profitability, there will be losing months and you'll need to have savings or additional business to cover that. Consistent profitabily means following a clear business plan and realizing returns, and taking into consideration the timeframe of your trading. For example, if I'm a position trader who takes 20-30 trades per year looking to catch the big moves, it is possible I'll have several losing months, but I still end up with a nice return at the end of the year. If a daytrader had 6 losing months in a row, that would just be horrible"
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