It always depends on an individual’s circumstances on how long it would take to learn forex trading. After all, there are a lot of different variables that go into the answer to the question. But there are some ways to approach the subject in helping the trader learn much faster. Sadly, there are people who never truly learn how to trade, and one thing to keep in mind is never to stop learning. Markets are so dynamic that there is no one-size-fits-all kind of solution.

Way of Thinking

One of the greatest advantages for people who have been successful is their mindset. However, most of the time, traders are led into the marketplace with the misunderstanding that it is easy to make a profit. Clearly, that is not the reality for many people involved. The truth is, when traders seek quick and easy money, they most likely end up wrecking their accounts.

Most traders find it painful if they only gain a couple of percent during the month. Many retail traders see that as paltry. But they are absolutely satisfied with that by professional traders that hold more information and strategy and tools at their disposal.

The complete disconnect makes no sense as they would berate for doing what the professionals do. Interestingly, most of the people that are truly upset are new traders.

Trading requires an extreme amount of patience, strategy, and education. There is a chance to be successful, but traders need to understand what they are getting themselves into. They are trading against professionals that studied for years and have much more in the way of tools.

Nevertheless, there are still several benefits in being a retail trader; they could get in and out if a position fast. Also, the retail trader does not have the same obstacles to fast execution as someone attempting to move $20 million in currency or other assets.

Starting with a mindset that there is a lot of work ahead but comes with great rewards is going to serve well in the future. Then, traders must understand that they need to love the game or lose.

Perseverance comes easier for people who are doing something they love. If the passion or love for trading is not there, it would be hard to deal with the ups and downs in the trading journey.

How Difficult Can Trading Be?

One great thing in forex trading is the great number of free information available on the internet. Also, there are sites where you could open up a demo account where you can’t lose money in the process. These are some of the major advantages of forex trading. In some cases, if traders began to learn trading futures, demo accounts in the asset class usually last for 30 days or less.

For the overall difficulty of learning how to trade, it is best to note that most seasoned traders will show the best trading systems and methodologies are relatively simple. With that, there is an adage that the best trading systems should be able to be written on a napkin. That may sound a bit of an exaggeration, but the truth is that the simpler the system or methodology, the higher chance traders could execute it when the time comes.

Above all, the biggest problem many traders face is overcoming the ‘analysis paralysis’ – where they watch a lot of variables or indicators simultaneously to make good trading decisions quickly. Simplification is typically the way to make money in the long run. And this is because it clears many confusions and guarantees not to miss any opportunities.

The world is online. From booking appointments to virtual consultation, attracting customers with video streaming content and digital ads, or making your website visible with good SEO rankings, businesses thrive — or languish — depending on their online savviness. Is your business taking full advantage of the digital revenue streams available? 

Condé Nast is a global media company that owns such well-known publications as Vanity Fair, Vogue, and Bon Appétit — among multiple other digital, print, and web publications. While serving as CFO for five years, David Geithner helped grow the company’s digital revenue by 15%, to over $400 million. Even if your business scale is slightly more modest, there’s no reason you can’t take advantage of the same strategies to grow your revenue.

Automate and Streamline

Robots are not out to take people’s jobs, no matter what wild predictions are made every time there is a new breakthrough in artificial intelligence happens. But that doesn’t mean you can’t take advantage of automation to streamline your processes. There are multiple software systems and services that can aid your business in streamlining mundane and manual procedures.

Just like setting up an automated email response, you can streamline and automate procedures such as subscriptions, marketing campaigns, calls to action (CTA), and more. Your business can increase its revenue streams by reducing the manual labor needed to do common tasks, and instead, let an automated system do the work for you. 

Diversify Product Offerings

You don’t need to start manufacturing a completely different product to take advantage of diversification. If you run a financial consulting business, for example, you could offer online courses about basic financial literacy, with an option to schedule a consultation at the end of the course. Looking into diversification can increase your revenue streams, and it doesn’t need to be expensive or labor-intensive.

If you already have the materials, or if you can repurpose information and repackage it into on-demand courses or webinars, you could offer additional products in the form of ebooks, videos, or courses. The best part is that once you’ve established these products, the upkeep can be minimal and the profits can be lucrative.

Read and Subscribe

If your business provides valuable content such as articles, blog posts, or informational videos, consider utilizing a freemium model. This format allows customers to access a specific number of articles before they must subscribe or purchase access to additional content. The free reads are the incentive, like a trial subscription. When you already have the content available, monetizing a subscription or paywalled articles can add revenue streams without additional workload. 

“Like and subscribe” is a familiar refrain, and that’s because it’s effective. People respond to being asked to do things. When it is as simple as clicking a button on the webpage — and doesn’t require entering payment information right off the bat — people are likely to participate. Once they have joined your channel, your newsletter, or followed you on social media, you have access to your customer base and can present targeted information to an audience that has opted in and thus is likely to be interested in your product or services, now or in the future.