Forex, what to expect? Is there a timeline?

There you are scrolling through your social media, coming across multiple
users showcasing a luxurious life that is delivered by a Forex trader. You and I both have succumbed to indulging the thought of following suit. What you’re going to read now is a clear and precise outlook on how to start Forex, a realistic timeline and the expectations to live with.

You have to treat Forex trading like any other profession in which you have to go through the process of learning and development. I’m sure as you read this, you’re fully aware that you’ve heard that one before. I actually went through the process of following someone else’s ‘signals’, lost a few and won a few. So I reckon I can give you quite an insight.

Where do you even start? There’s a huge amount of people and businesses
out there selling ‘Forex trading’ courses. You, yourself really need to depict the person/company you’ve chosen. What do I mean? Ask them for information around current and existing course attendees. Speak with more than a handful of people that have attended that course. The person teaching the course, what’s their background? Look at trust pilot reviews?

How about even asking to look at their entire trading history? No harm in being thorough.

Once you’ve decided where to go for your Forex trading course, then comes
education. You can’t expect this to be easy; you have to put the work in behind looking at charts, reading up and watching videos. I work full-time and I managed to do it, so I’m pretty sure you can find a way!

Post-course, you’d be a fool in thinking that’s it – I’m going to make hundreds and thousands in a day. If you’re lucky you might just so. For the majority, you have to have a pragmatic approach and really expect that it’s going to be a steady progress. I’m a mentor and each of my mentees has had to swallow that this isn’t going to be a sprint.

It’s been a month since the course; you’re not making the money you thought you would. Why? You’ve not applied your education correctly; psychologically you weren’t prepared for the journey. You think to yourself what did you do wrong? Is it just all a scam? Let me tell you now, it’s all because you never grounded your expectations and accepted a realistic timeline of progression.

Timeline – for the first few months you will be experimenting so much in terms of trading patterns and strategies. You will make losses, but you will trade emotionally as a result and lose a little bit more and become discouraged as have so many. Rather, you need to be back-testing your losses and understand why did I actually lose. If you continue to be persistent and manage your risk efficiently, and with that, I don’t mean putting £500 every month into your trading account once you’ve blown it from the month before. You will start to learn from your losses and now you’ll be in a position where you’re thinking why didn’t I do this from day 1. Don’t worry I went through it myself and I’m here talking to you so what Fuaadh taught me had a lasting impact.

6 months in, you’ve continued to stick to a set of parameters and gaining some headway into a healthy amount of progress. Once you’re here, you can’t get carried away – stick to what you’ve learnt, learn from your losses
and expect a steady progression rather than a ‘get rich quick’ mentality.

So, all in all, this all comes down to you. Are you willing to ground your conscious and accept that this is a voyage of some sort and not a sprint?
Once you realise that and expect that, psychologically you’ll be the right
headspace to pursue your journey to financial freedom.

Let us know in the comments how your experience has been with Forex and which part of the time line you are currently at!

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