You can pay and get knowledge but not for experience - Page 54
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Thread: You can pay and get knowledge but not for experience

  1. #1
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    You can pay and get knowledge but not for experience

    I know this might hurt, but the truth about forex trading is that there is no short cut, if you really do want success from the business you have to make it so evident, by learning.

    This advice is mainly for new traders who thinks they can pay some huge amount of money and learn from the best traders traders. You will get knowledge with paid money but not real experience.

    This is my personal experience.

    1. Learn.

    2. Make mistakes.

    3. Then learn from the mistakes.

    All those three things should be done in the demo trading account.

    What do you think?

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  2. #531
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    Actually at the end of the day, we see that the experience is the real deal in forex trading, the concept is not completely learned when we don't have the right experience to make us successful. This is forex trading business and to get the right knowledge and become successful we have to get as much as possible experience. Knowledge is the most important thing that should be accomplished by the practical experience that makes the learning complete.

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  3. #532
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    Well, I think learning is free and we can tag money to it if we want to. Because the knowledge can be gotten only without us paying a dime for it as well, then after getting the whole basic needed knowledge we can move to the demo account where we can actually be able to have the right experience towards how we trade.

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  4. #533
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    If we want to get better trading experience all we need is to demo trading account here is not other best place for that because the demo account don't have any risk and we still trade on it as though we are on the real trading account, that is how it works. getting knowledge is quite easier because we have the internet filled with much ebooks and articles.

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  5. #534
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    Quote Originally Posted by Lyon View Post
    If we want to get better trading experience all we need is to demo trading account here is not other best place for that because the demo account don't have any risk and we still trade on it as though we are on the real trading account, that is how it works. getting knowledge is quite easier because we have the internet filled with much ebooks and articles.
    Yes demo accounts is the best place to practice trading system properly .On demo accounts we trade freely because this is only a demo no capital is used we just understand and learn about real trading system when you practice on demo accounts it makes trading easy and understandable for you without practice on demo accounts i think it is very risky to trade here.

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  6. #535
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    Quote Originally Posted by fahaddd View Post
    Yes demo accounts is the best place to practice trading system properly .On demo accounts we trade freely because this is only a demo no capital is used we just understand and learn about real trading system when you practice on demo accounts it makes trading easy and understandable for you without practice on demo accounts i think it is very risky to trade here.
    it has all the things a trader will need to learn from so as to be a good trader, a trader that has been able to use the demo account the right way will make money consistently from the market. Forex trading business is not a business we get fast successful in, but a business we be able to follow and build the experience while learning, experience matters a lot.

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  7. #536
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    Quote Originally Posted by Lyon View Post
    it has all the things a trader will need to learn from so as to be a good trader, a trader that has been able to use the demo account the right way will make money consistently from the market. Forex trading business is not a business we get fast successful in, but a business we be able to follow and build the experience while learning, experience matters a lot.
    I think being a trader it is more fruitful for us to trade with learning and wait for success if our stayed is not longer then in this way we face failure as well we have to make it sure we are trading with the right ideas and with right management trading system , we are working on it slowly success comes only when we get it as time passed and it will be more profitable for us to get use to trade .

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  8. #537
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    Quote Originally Posted by Lyon View Post
    it has all the things a trader will need to learn from so as to be a good trader, a trader that has been able to use the demo account the right way will make money consistently from the market. Forex trading business is not a business we get fast successful in, but a business we be able to follow and build the experience while learning, experience matters a lot.
    I dont agree, even if we work on demo for years we cannot start earning consistently profits from Forex, unless we have huge experience in real trading too. This real trading experience is the main power for us to make our strategies work and manage our money well. Though we can practice on demo and gain knowledge, experience will be developed only when we start real trading and survive there.

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  9. #538
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    Quote Originally Posted by Abhishekwala View Post
    I dont agree, even if we work on demo for years we cannot start earning consistently profits from Forex, unless we have huge experience in real trading too. This real trading experience is the main power for us to make our strategies work and manage our money well. Though we can practice on demo and gain knowledge, experience will be developed only when we start real trading and survive there.
    It is all about determination, mostly the reason why it is hard for so many traders to be able to make money even after they have demo traded for a long time, they are yet to determine that they will always follow the rules they got to know from the experience, in as much as we are not ready to follow the rules we have gotten from experience then we will keep on making the same mistakes over and over again.

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  10. #539
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    Quote Originally Posted by Lyon View Post
    It is all about determination, mostly the reason why it is hard for so many traders to be able to make money even after they have demo traded for a long time, they are yet to determine that they will always follow the rules they got to know from the experience, in as much as we are not ready to follow the rules we have gotten from experience then we will keep on making the same mistakes over and over again.
    yes i agree with you it is very important to learn all about trading system because if you not follow the rules it is not good for your trade.When you don't learn from your mistakes these mistakes effect your trading career.For successful trade people should understand all the terms of technical trading and then use them accordingly.

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  11. #540
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    Quote Originally Posted by Lyon View Post
    it has all the things a trader will need to learn from so as to be a good trader, a trader that has been able to use the demo account the right way will make money consistently from the market. Forex trading business is not a business we get fast successful in, but a business we be able to follow and build the experience while learning, experience matters a lot.
    I think same as your opinion , For me the most important thing is to try to practice the theory that has been learned. it will be useless if we learn many theories but not practiced so as not to get experience

    forex is a very complex business. it takes skill, experience, strategy, psychology and patience to be able to survive in long period of time in forex business, we need a longer training process to be more experienced to have all of that so that can get consistent profit

    By continuing to practice in order to get a good experience, of course we will be able to analyze market movements carefully to give decision of the entry that has a high probability for profit

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