Originally posted at forexfactory on April 26, 2011:
10,000 hours in 2 years = 14 hours/day (including on weekdays)
10,000 hours in 5 years = 6 hours/day (including on weekdays)The first one is not realistic for most people (which again shows that only the most dedicated ones can succeed by this route).
Neither one is realistic for anyone having a job.
I never said that it’s impossible to succeed, just that it will take a lot longer than most assume, including if you find a “mentor” to show you the order-flow ways. There are no shortcuts.
Well, yeah if you put the statistics like that, then it doesn’t look good. But the dirty little secret is that you can think about the market while you are doing other things. You do not necessarily have to put it 10,000 hours worth of staring at your charts on the computer. Part of that time, at least for me, was just thinking about the market while going on with whatever other part of your daily life. So you think about the market, order flow, information flow, liquidity while you are doing other things if possible. You think about it while you commute to work, at lunch break, in the shower. Maybe get up one hour earlier in they day and go to sleep one hour later. Perhaps listening to an audio while you are doing other things. Pretty soon that all adds up. So the 10,000 hours looks more like 6,000 hours of charts/researching/learning, etc. Then the other 4,000 hours is just you thinking deeply about the markets and the participants, and things like that. So then it doesn’t seem so bad.