Do 10,000 hours to become a skilled trader?

The 10,000-hour rule is also famous in the bestselling book “Outliers” by world-renowned author Malcolm Gladwell.

The author points out that if a person wants to be an expert in a certain field or task, he should practice and work for 10,000 hours.

So, it becomes a question of whether it is necessary to study and practice for 10,000 hours to become an expert trader in trading. If you practice for about 5 hours a day and concentrate on the market, you will get 25 hours a week (excluding weekends) and 1,300 hours a year. That would be 10,000 hours in about 7 years and 7 months.

During those 7 years and 7 months (almost 8 years), you will have some days off, If you only study a few days and do it superficially, you will not reach the expert level.

If you have been trading since 2016, you will have experienced
Brexit (2016) ,
U.S. Election (2016) ,
Fed Rate Hike cycle (2016),
Bitcoin Futures Approved (2017),
U.S. & China Trade War (2018, 2019) ,
U.S. & Middle east Geopolitical Tension (2018, 2019),
Fed Rate Cut Cycle (2019),
Covid-19 (2020),
U.S. Election (2020),
Fed Rate Cut cycle (2020),
Crypto Hype (2021),
Luna Crash, FTX collapse (2022),
Fed Rate Hike Cycle (2022),
U.S. Bank Collapse (2023),
Spot Gold reached ATH (2023),
U.S stock market reached ATH (2024)
etc. We have experienced major events in the market.

(There were many topics, but if I wrote about them, it would take a book, so I will only mention important examples.)

If you are not familiar with these major events, you will not even know them. Only if you have the effort to study the market every day, you will be aware of when and how they happened. You can also use the invaluable and unbuyable experiences for your future Trader’s journey.

These are just to make it clear what kind of experience you can have in 10,000 hours. If you can immerse yourself in the market every day, try to gain experience, and learn from your experiences, you can reach the level of expertise in less than 10,000 hours.

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