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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. #11
    Trader lawners1791's Avatar
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    yes as the good chance on managing the customs on work with the system analytics and the evaluation shows of the number on records with the notice on consideration; those still to requires of more as trader to work with the spare teams on gaining of motivation as by the comparison of each with the achievement by the segregation.

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  3. #12
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    Having the cause of other peoples failure to me will help us trade successfully if we should learn and know how to avoid all those things that has caused them to loss their money.

    On the other hand, making money in forex trading is more of experience and more of the experience happens to be with you learning from the experienced one and the mistakes that you have made.

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  4. #13
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    I somehow agree that we can learn from other trader's experiences whether its bad or good, but I think It will have bigger impact if we learn from our own experiences, it is a bit harder to implement a particular approach if we dont have hands on experience on what we want to do, it is important that we know how to chose what is useful and not useful information from other traders.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  5. #14
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    Quote Originally Posted by techboy View Post
    I somehow agree that we can learn from other trader's experiences whether its bad or good, but I think It will have bigger impact if we learn from our own experiences, it is a bit harder to implement a particular approach if we dont have hands on experience on what we want to do, it is important that we know how to chose what is useful and not useful information from other traders.
    This is right sir, there is nothing bad in learning from other traders. I became what I am today because I learned from different traders, although my own was not directly learning. But with them I would not have became what I am today. Getgting experience is not a day thing, it compiles daily and with good training all the time.

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  6. #15
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    so good for traders to spend the time to read and learn the other's experiences, it will give us more and more knowledge that is useful for our trading to handle some condition that we have not yet faced before, but we have already understood to manage it,
    and so why the traders will read some books as references or other experiences that became the sources of knowledge

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  7. #16
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    Quote Originally Posted by newentry View Post
    so good for traders to spend the time to read and learn the other's experiences, it will give us more and more knowledge that is useful for our trading to handle some condition that we have not yet faced before, but we have already understood to manage it,
    and so why the traders will read some books as references or other experiences that became the sources of knowledge
    Both others mistakes and our faults can help us learn important lessons . We should use a notebook to mark fault. We have to write those fault which we do in business. After that we have to analysis how to overcome those fault. And later we have to start business so that we can not do the same mistake.

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  8. #17
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    Quote Originally Posted by AmitChallenger View Post
    Both others mistakes and our faults can help us learn important lessons . We should use a notebook to mark fault. We have to write those fault which we do in business. After that we have to analysis how to overcome those fault. And later we have to start business so that we can not do the same mistake.
    yes, there is no useless thing here, all the thing about the experiences from the worst to the best one will give us good lesson and if the traders want to learn and evaluate them, we can learn our experiences or also other experiences, an both of them will give us knowledge to face some condition and recover it, so it means, we have already increased the ability and trading quality

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  9. #18
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    Quote Originally Posted by newentry View Post
    yes, there is no useless thing here, all the thing about the experiences from the worst to the best one will give us good lesson and if the traders want to learn and evaluate them, we can learn our experiences or also other experiences, an both of them will give us knowledge to face some condition and recover it, so it means, we have already increased the ability and trading quality
    Yes both our mistakes and also mistakes made by other traders can help us learn vital lessons. This was the idea of creating the forum. Where traders can communicate with each other. They can share their experiences, mistakes and also good trading performances. This will help all the members to improve their individual trading. About writing our mistakes it can help to ingrain in our mind its effects and that can helps us avoid it in future.

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  10. #19
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    Quote Originally Posted by cozard007 View Post
    This is right sir, there is nothing bad in learning from other traders. I became what I am today because I learned from different traders, although my own was not directly learning. But with them I would not have became what I am today. Getgting experience is not a day thing, it compiles daily and with good training all the time.
    Our knowledge is endless so that's right we have to learn regularly from other trader's or we can learn from other sources too. We don't have to stop our learning and have to grow our trading knowledge day by day. By getting a good knowledge we can gain a good name and fame in this industry. So for sure we should learn from everywhere.

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  11. #20
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    Quote Originally Posted by PROPENSITY100 View Post
    Yes both our mistakes and also mistakes made by other traders can help us learn vital lessons. This was the idea of creating the forum. Where traders can communicate with each other. They can share their experiences, mistakes and also good trading performances. This will help all the members to improve their individual trading. About writing our mistakes it can help to ingrain in our mind its effects and that can helps us avoid it in future.
    and the important thing for us here that we write down all the thing have been done honestly, so many benefits that we can take from this thing with share our best trading system and also our problems with some mistakes in there that will lead us to share each others and complete it, this is the best thing we can do to save the time

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