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  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. #631
    Rookie Silhouette's Avatar
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    Quote Originally Posted by Sixteen View Post
    I don't get it when people think that everything revolves around money. It's not possible to become a good trader with money rather you must invest proper time to practice and develop a good trading skills that will help you make profits. Experience is a necessary point in forex and with the best experience, we can have all the chance to build something good from forex which is very much important for us in forex.
    It's matter of choice because we know there's people who don't have the time but got money so they'd rather use their money to get something they want to. For us who got enough money but not plenty and we got spare time to spend, we'd rather choose to do everything manually and make things worth the effort. That's why typical traders like us got more experience than those traders I've described before.

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  3. #632
    Rookie tfs2012's Avatar
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    Quote Originally Posted by Sixteen View Post
    I don't get it when people think that everything revolves around money. It's not possible to become a good trader with money rather you must invest proper time to practice and develop a good trading skills that will help you make profits. Experience is a necessary point in forex and with the best experience, we can have all the chance to build something good from forex which is very much important for us in forex.
    It's like paying to go learn in a private school
    If you are in your early years in this busines and have a specialist to help you and guide you to learn correctly, will not that make a big difference for you?
    If you have the money to spend on learning,things will be faster and easier for you.

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  4. #633
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    Quote Originally Posted by tfs2012 View Post

    It's like paying to go learn in a private school
    If you are in your early years in this busines and have a specialist to help you and guide you to learn correctly, will not that make a big difference for you?
    If you have the money to spend on learning,things will be faster and easier for you.
    This is true, you would become more easily successful than the traders who hasn't been able to have such specialist. But then again, the power of being successful depends still on the trader in the sense the step of being discipline comes within the trader. Furthermore, when the trader is yet to take the steps to attaining such feat. they will remain where they are.

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  5. #634
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    We learn personally from our experience and it is the best experience any trader could have because it's where they can improve and learn appropriately. Experience is the best teacher anyone can have and it will always be a good chance to minimize risk and have the chance of producing good and consistent profitable wins more of the time.

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  6. #635
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    To the best of my knowledge , a trader needs both the knowledge , skills and experience to trade forex profitably and successfully . None of these will ever come without a cost , knowledge and skills come from serious learning and practice and that is the price that must be paid . Experience comes in gradual process as you begin to demo trade and trade on live account . There are some discovery that you will make in a very painful way but once you have discovered a thing in that process , it has become part of you for live .

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  7. #636
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    Quote Originally Posted by Tonycee View Post
    We learn personally from our experience and it is the best experience any trader could have because it's where they can improve and learn appropriately. Experience is the best teacher anyone can have and it will always be a good chance to minimize risk and have the chance of producing good and consistent profitable wins more of the time.
    But then before we can go through the means of having the experience a lot of learning is needed in the market. Getting the best of trading experience means you should have learned the knowledge from some other good traders. That is the way I see it works. paying to get knowledge is crucial and assist to get better experience.

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  8. #637
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    Quote Originally Posted by layigold View Post
    To the best of my knowledge , a trader needs both the knowledge , skills and experience to trade forex profitably and successfully . None of these will ever come without a cost , knowledge and skills come from serious learning and practice and that is the price that must be paid . Experience comes in gradual process as you begin to demo trade and trade on live account . There are some discovery that you will make in a very painful way but once you have discovered a thing in that process , it has become part of you for live .
    It has to be something done in stage by stage because the trader needs to take time and patient in getting all of them. First of all, there is no need to get in a rush, because that absolutely do ruin the way a trader takes on trades. Getting the knowledge is simple but only the patient traders furthermore gets experience through demo trading.

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  9. #638
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    Quote Originally Posted by layigold View Post
    To the best of my knowledge , a trader needs both the knowledge , skills and experience to trade forex profitably and successfully . None of these will ever come without a cost , knowledge and skills come from serious learning and practice and that is the price that must be paid . Experience comes in gradual process as you begin to demo trade and trade on live account . There are some discovery that you will make in a very painful way but once you have discovered a thing in that process , it has become part of you for live .
    I agree to that also, all traders needs the both of them but they are not gotten at once in such a way that traders should be able to learn and understand that experience is a good thing. But knowledge comes first and you have to be the one to go through the emotions and then learn on how to handle the market. Experience is hard because we have to learning and practice.

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  10. #639
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    Quote Originally Posted by Darkhorse View Post
    I agree to that also, all traders needs the both of them but they are not gotten at once in such a way that traders should be able to learn and understand that experience is a good thing. But knowledge comes first and you have to be the one to go through the emotions and then learn on how to handle the market. Experience is hard because we have to learning and practice.
    These are learn on same time as we have more knowledge same time our experience about trade will increase and we can make profitable trade plan , knowledge is complusory thing and with practice and with learning it would be good and will be very effective for making a good system or use and to make better trade plan .

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