You can pay and get knowledge but not for experience - Page 11
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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. #101
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    Quote Originally Posted by Queen-of-the-coastFX View Post
    Knowledge is actually common in forex trading, any one can get the knowledge from the internet, but the quite hard thing to be done is having the good trading skills and experience of trading. If you don't have good trading experience and knowledge of the demo account all you have read will be a waste, so at the end of it all practice is the best thing to go get.
    The truth of it all is that we have take it upon our selves to get the experience and most of all the demo account is offering a good platform for that which will really enable traders to have the great understanding. Evidently getting that good precise trading knowledge and understand requires patient as well, as experience comes with the more time spent on learning.

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  3. #102
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    Quote Originally Posted by Queen-of-the-coastFX View Post
    Knowledge is actually common in forex trading, any one can get the knowledge from the internet, but the quite hard thing to be done is having the good trading skills and experience of trading. If you don't have good trading experience and knowledge of the demo account all you have read will be a waste, so at the end of it all practice is the best thing to go get.
    The truth of it all is that we have take it upon our selves to get the experience and most of all the demo account is offering a good platform for that which will really enable traders to have the great understanding. Evidently getting that good precise trading knowledge and understand requires patient as well, as experience comes with the more time spent on learning.

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  4. #103
    Trader famousfx's Avatar
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    This is a reality that we must all know, truly we pay a lot of money and with hard work to get the knowledge we are using in trading forex market , but for us to get good experience is the combination of our struggling to go on more practice and making records of the errors and right made in the course of trading. then referring to them later to bulid our experience.

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  5. #104
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    Quote Originally Posted by famousfx View Post
    This is a reality that we must all know, truly we pay a lot of money and with hard work to get the knowledge we are using in trading forex market , but for us to get good experience is the combination of our struggling to go on more practice and making records of the errors and right made in the course of trading. then referring to them later to bulid our experience.
    We need not pay any money for learning. Instead we can learn from internet, forums and with the help of a demo account. Opening a demo account is easy and one can start practicing.With this learning and practice, trading can be simple and can give anyone the skills to trade well and earn profits

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  6. #105
    Trader Batavia's Avatar
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    Which i know about this business is the experience is more impotance things to be have it by traders, without experience the trader can not get a good trade in this market although you have much knowledge, the truth of knowledge is who gotten from experience and not only reading of the books.

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  7. #106
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    Quote Originally Posted by Batavia View Post
    Which i know about this business is the experience is more impotance things to be have it by traders, without experience the trader can not get a good trade in this market although you have much knowledge, the truth of knowledge is who gotten from experience and not only reading of the books.
    In other business we can survive with out everyday learning in this market we engage fully because market move every time so we must have an active mind for making trade if we are learning well from our techniques then we use for trade , we always have to update our technical level and fundamental news .

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  8. #107
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    Quote Originally Posted by RaptFX View Post

    This is my personal experience.

    1. Learn.

    2. Make mistakes.

    3. Then learn from the mistakes.
    here is what iv gone through so far.
    -I studied very hard developing a trading strategy that was profitable and suits
    my personality.
    -after some time of demo trading I switched to a live account where I started to be profitable
    -then I got carried away and started risking more than I could afford to lose. I blew 2 trading accounts simultaneously.
    - and now iv learned a lesson from my mistake to which I will never repeat again. every time I feel myself starting to get carried away I will simply remember this moment when I blew 2 accounts simultaneously.

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  9. #108
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    I think we are not learn or get knowledge to give money to others. All things are need to be learn by our self. We must need learn by our self and get basic knowledge about this business. Then we must need work on forex trading for get experience because without work on demo or live trading we cannot get experience and without experience we cannot get success in this business.

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  10. #109
    Trader layigold's Avatar
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    I still do not understand you clearly sir , do you mean that experience will be acquired free of charge and that will not cost you anything ? To the best of my own knowledge , experience will never come without doing anything . As you begin to learn and practice you are acquiring knowledge and good trading skills and when your begin to make mistakes , you are learning from your mistakes and this helps you to see better way of doing things and this process brings you to acquiring wealth of experience

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  11. #110
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    Quote Originally Posted by layigold View Post
    I still do not understand you clearly sir , do you mean that experience will be acquired free of charge and that will not cost you anything ? To the best of my own knowledge , experience will never come without doing anything . As you begin to learn and practice you are acquiring knowledge and good trading skills and when your begin to make mistakes , you are learning from your mistakes and this helps you to see better way of doing things and this process brings you to acquiring wealth of experience
    With that I understand about the trading strategy, I have got to know that it means that you can pay to get the knowledge, that is ebooks and some other sort of learning materials. But the real deal which is in the experience aspect of trading, that means the demo trading and learning process, you have got to do it by your self.

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