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Thread: Learning from other trader's experiences and losses

  1. #1
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    Learning from other trader's experiences and losses

    Our experience is our great teacher We all know that experience has several lessons to teach to a traders. Experience plays a key role in enhancing the skills of a person in any job or business. A trader may not learn the lessons well by reading but many times he learns it through his experience.

    It is with experience a trader several times take the initiative to correct his mistakes and weaknesses in his trading. This may be because when he experiences the losses due to the mistakes he feels the emotional pai For instance a trader after blowing a big account experiences the pain and so may be more rigerously provoked to learn and correct his mistakes.

    Other traders experience is also our teacher
    It is not necessary that it is only when we lose we take the initiave to correct our trading mistakes and flaws. Learning lessons from other traders experience and losses can help us avoid the same mistakes and hence avoid the losses. Learning from our experience can some times be harsh. Our experience can teach us lessons by giving us emotional pain and losses.

    When we learn from other trader's mistakes we can learn many lessons without even undergoing the effect of such mistakes which is usually big losses. The main advantage of Roboforex forum is here several traders share their experience and mistakes. Interacting with them can improve our knowledge and help us avoid the same mistakes and losses in our trading.

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  2. #221
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    Quote Originally Posted by samprazaan View Post
    [lang=id]with evaluation, traders will see the past to know some reasons behind the loses and mistakes, so they will find the solution to solve the problems to avoid the same mistakes happen to them and give some loses, the experiences become the best education for us who want to do evaluating the past with seriously,[/lang]
    With evaluation we can learn from the mistakes we made in the past. What we learn we need to practice so that we learn to benefit from it. One time learning may not be sufficient since brain can't save everything. The solution is to revise the information as much as possible and i'm already trying to do that.

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  3. #222
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    Quote Originally Posted by SuccessfulKartik View Post
    With evaluation we can learn from the mistakes we made in the past. What we learn we need to practice so that we learn to benefit from it. One time learning may not be sufficient since brain can't save everything. The solution is to revise the information as much as possible and i'm already trying to do that.
    We have to be able to apply what we learn in real trading. Both loss and fear of loss are part of the forex game, this fact should be accepted. Instead of worrying about it traders should adopt the proper response to it namely loss should be stopped and fear of it should not be so exaggerated that hampers next entry.

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  4. #223
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    Quote Originally Posted by AmitChallenger View Post
    We have to be able to apply what we learn in real trading. Both loss and fear of loss are part of the forex game, this fact should be accepted. Instead of worrying about it traders should adopt the proper response to it namely loss should be stopped and fear of it should not be so exaggerated that hampers next entry.
    As you said it well though fear is there we have to respond correctly to it. Who would prefer to gain loses in his trades, I think it is better to trade earning a little profit at a time, slowly but consistently than to earn huge profit but also losing huge amount the next trades.

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  5. #224
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    Quote Originally Posted by shivanandfx View Post
    As you said it well though fear is there we have to respond correctly to it. Who would prefer to gain loses in his trades, I think it is better to trade earning a little profit at a time, slowly but consistently than to earn huge profit but also losing huge amount the next trades.
    Of course we have to respond correctly for the problem of our fear, and the good thing will be learn nicely from our trading experience and mistakes, the right learning would surely give us more better perseverance in learning, on the other hand when we have wrong style and approach then mostly it concave our mind very badly.

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  6. #225
    Trader cutiekc's Avatar
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    It is good, no one is above mistakes, although that you learned from other traders does not mean that you will not make mistakes when trading. It is good to have the tips at least that will help you, helping you reduce the mistakes, forex trading is a risky market and only those who has learned and got to understand the market would succeed.

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  7. #226
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    It is so good way to think of the trading skills and do our best for the things we have to be able to trade . i think that building our experience is a must and we have to find more about the making in the trading results . and all of our ways we have to think of the trading strategies

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  8. #227
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    Quote Originally Posted by cutiekc View Post
    It is good, no one is above mistakes, although that you learned from other traders does not mean that you will not make mistakes when trading. It is good to have the tips at least that will help you, helping you reduce the mistakes, forex trading is a risky market and only those who has learned and got to understand the market would succeed.
    No one is ever above the mistakes, we are all liable to make mistakes at any point in time. And we have to be sure of our trading system above all things, if that system is good, what we will be making in the market will be such that we are proud of, and we can actually prove it to be right always. While we have to learn further in case of losses.

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  9. #228
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    Quote Originally Posted by cozard007 View Post
    No one is ever above the mistakes, we are all liable to make mistakes at any point in time. And we have to be sure of our trading system above all things, if that system is good, what we will be making in the market will be such that we are proud of, and we can actually prove it to be right always. While we have to learn further in case of losses.
    But we should always try to get as above as mistakes as possible for us. Success in trades and in Forex trading in general is not just about possessing knowledge and skills in doing trades but also a good and appropriate attitude towards trading and during trades and in setting limitations in risk and aim.

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  10. #229
    Trader layigold's Avatar
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    It is good to learn from other traders' shortcoming but most often people tend to learn better from their own personal experience and to say the truth such learning tends to last longer. I have learned a lot for others but I have learned better from my own personal experience and there is no way you will be a good trader in forex business that you will not learn from your own mistakes. There is nothing wrong making mistakes but when a trader refuses to learn from that , there are so many things wrong then

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  11. #230
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    Yeah, the wise people will learn from other's traders experiences and losses. Then we do not need to get the same losses first to learn much things from it. We need to learn as much as possible from other's experiences and losses, so we will not get the same bad experiences and losses like them, and keep our trading safe

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