How long will it take me to become profitable?

If you have already traded for 10 years you should be there by now or soon after. Many traders take 5-6 years (myself included), most take as long as 10 years. Some never make it of course. It actually took Al 10 years due to the lack of good trading information at the time. Al spent lots of money, as we all can do, paying for useless courses and mentors.

Assuming you know how to place and manage trades well, I would suggest your problem may well be psychology. Even with the skills to trade, our psychology can really mess things up. If you do not do mindfulness meditation yet, I would suggest you look into it and make a start. You need to learn to be aware of your emotions kicking in and hijacking your brain! It takes time, maybe lots of time, to learn this. At the very least, take deep breaths every now and again to try and keep your heart rate down - especially before taking a trade! Stand up, walk around to break your state now and again.

I can recommend some books to help with your psychology, and the best starting point is an excellent (and cheap) book called "Mindfulness: An Eight-week Plan for Finding Peace in a Frantic World" by Mark Williams and Danny Penman.

I have re-watched Brooks' YouTube response Video many times along my journey and will continue to revisit it when I get frustrated with some of my trading days. I've had many more up than down days this year, but still have a lot to work on. I have found it immensely helpful and hope you do as well.

Charlie

In answer to your question about any other mindfulness resources - you could take up TM. It costs a bit, but is excellent. Its all about less thinking. I have practiced it for 32 years. Changed my life.

Trading is a twofold solution, and there is an area of overlap.

1.  Technical knowledge.  A trader often jumps to the conclusion that the issues are "mental" because. . . well, everyone says that 90% is mental.  Yet, when reviewing their trade selection the initial issues often appear as very poor candidate selections.  This would completely be based on technical knowledge and most traders really fall within this category within the first 1-3 years.  Experience and good training materials are what is critical (and if you have access to traders who can guide you on the correct selection areas and why).

2. Personal performance / Mental performance.  2 years+ -> never (what!??!).  Yep.  After completing number one, one must realize that the markets are not designed for you to succeed.  The machines can weight "human factors" and enhance or delay orders based on human perceived gap expectations.  The bar has 10 seconds, it looks beautiful, it is a great buy if it closes on its high. . . 3, 2, 1, the bar collapses and becomes an entry bar in the opposite direction of expectation. . . NOT AN ACCIDENT!  Area 2 is the true test of deploying your technical knowledge into an action plan / framework and then STICKING TO IT, to see if your analysis meets the markets movement, or where your evaluations may be out of sync, requiring adjustment.  Essentially, trading is the profession of becoming comfortable with the unknown, or uncomfortable things.  This isn't pleasant.  Initially one may become dopamine dependent on having to "produce" something (a good track record. . . etc).  Your objective is to define how the market behaves and take trades based off of a solid plan the doesn't require the current trade to be a success - WHAT!???? - YEP.  This is difficult because you want to be right.  The market doesn't care.  The shift for #2 is what is the final separator of performance.  However, without an effective understanding from #1, #2 doesn't benefit you much.

This is why simple, profitable systems are the best way to begin.  Why, because #1 is quickly grasped, and #2 integration can happen.  However, Price Action refers to "everything under the sun".  Trends, trading ranges, volatility expansions and contractions, etc.  So it will take awhile to grasp "everything" and then ensure that adjustments for #2 can happen.

This is why it can take awhile, and for some, never.  The adjustment for #2 relates to personality based effects, and scalping vs swing trading.  There is overlap between scalping vs swing trading and that also relates back to probability and personality.  Do you have to be right?  Then scalping, but scalping is more difficult because higher precision is needed.  If you are a doctor, lawyer or engineer, or very smart, scalping may be a bit more appealing.  However, through all of this, you will need to adjust and find your way.

Meditation, as Richard brought up, is an effective way to see the separation between thought, action, and what the markets are doing.  Everyone makes the assumption that they are seeing the market.  This actually is not true.  They most often are seeing their interpretation of the market through their mental processes (0.5s+ behind real time).  This is why the Zone is an important topic, because without reactions to fear (you will feel it, but your interpretations of that sensation and emotion are critical), you can close that mental gap, being comfortable with being uncomfortable and still taking appropriate action.  That fear "conversion" is what #2 is all about.

Hopefully helpful and good trades to you!  

Hi Charlie

Yes its transcendental meditation. 20 mins, twice daily. In TM the awareness is on a mantra, as opposed to the breath (in Vissapana). Although i usually do slip into awareness of my breath.

Cheers