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Thread: Knowledge comes from experience

  1. #1
    Trader rinaji's Avatar
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    Knowledge comes from experience

    Hi dear all members, this time I will discuss about information and experiences, but I will not talk much, because honestly I do not mean to be a teacher for you, but I just want to hear what you think about this. And I want to discuss with you. I hope this will be a lesson for newcomers.

    I'm sure many peoples (including myself) who think that information is knowledge, Really? I want you to ask yourself about this before you read my next article. And please share your opinion. Okay, if you've done that, please read my next article.

    What if you heard that "Information is not knowledge. The only source of knowledge is experience."
    Who said this? I am sure you will deny if it is out from my mouth, but how you can deny if it is a quote from Albert Einstein?

    What does it mean?
    That knowledge comes from experience. You can discuss a project, but that discussion will only give you the information.
    You have to do the project to 'know' whether the project is running correctly or not.
    You must do so to address the emerging issues amid ongoing projects. It makes you have a new and rewarding experience.

    Information is not knowledge, because I think information is different from knowledge. Then what is meant by information and knowledge? Information is everything received by our five sensory, what we see, we hear, we touch, we taste, we smell is an information for all of us. While knowledge is the storage, integration, and organization of information that we can. So it can be concluded that the information was not always into knowledge, but knowledge must be derived from the information.

    So what should we do? We need to change or manage the information into a useful knowledge for us.
    Thus, experience in managing information is the determining factor in getting knowledge.

    I can share some steps in terms of managing information:
    Search information- Take information - Evaluate - Compile and understand - Analysis and conclude - You can discuss - Act based information - Maintain and update information.

    Is that all require a process? Yes, of course, and the process is "experience".

    Maybe a lot of information that we get from this forum or other internet media or any other place, but it will not help if we do not manage information properly. Our experience are the determinant of our success.

    All the best

    Rinaji

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    If you lose, be patient. If you win, stay humble

  2. #2471
    Trader cutiekc's Avatar
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    Knowledge is the basic thing we ought to get if we want to move further with the learning then. Furthermore, that would help us on being good at the demo account whereas making it easier for us to make good analysis. Without the use of knowledge it will be hard to have the best of experience, furthermore they all are all conjoined.

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  3. #2472
    Trader ola4real's Avatar
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    Quote Originally Posted by Brain View Post
    Irrespective of where it comes from, I think it is still valid to know on how important it is to have good trading skills and then knowledge at the same time. However it is good to know that you should be able to have good trading knowledge and then that should help you build a strong trading skills which will enable you succeed in the business.
    Knowledge and experience of trading are both good for us, this makes us to trade forex with the extreme power which will never make us fail when we know what we are doing. It takes our learning to build the block of forex experience that will make us to know what to do at every point in our trading work. It is good to have the likes of good trading strategy also, this makes our trading to be more interesting.

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  4. #2473
    Trader Obaforex's Avatar
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    Knowledge in the forex market comes from experience because the more we practice in the forex market the more knowledgeable we become at trading in this market. So putting a lot of time and concentration into practicing usually helps us a lot to improve our knowledge of the forex market and knowledge along side experience itself is highly needed to become profitable in this market especially when trading on the long run.

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  5. #2474
    Trader ara's Avatar
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    Quote Originally Posted by Obaforex View Post
    Knowledge in the forex market comes from experience because the more we practice in the forex market the more knowledgeable we become at trading in this market. So putting a lot of time and concentration into practicing usually helps us a lot to improve our knowledge of the forex market and knowledge along side experience itself is highly needed to become profitable in this market especially when trading on the long run.
    In accordance with the wise words "experience is the best teacher", of course, everyone will not refuse this, the wise will always learn from their experience, and the worst people are those who don't learn from their experience.

    But I have other facts in forex trading, this is my personal experience, I don't know if others feel this or not. It happens when we are beginners, we already know that this or that is wrong, but we do it again and again. That's the stupidest action I've done in forex trading.

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  6. #2475
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by ola4real View Post
    Knowledge and experience of trading are both good for us, this makes us to trade forex with the extreme power which will never make us fail when we know what we are doing. It takes our learning to build the block of forex experience that will make us to know what to do at every point in our trading work. It is good to have the likes of good trading strategy also, this makes our trading to be more interesting.
    As time passing by, these 2 things we will get for sure if we do this business with good responsibility by making a lot of learning and practice only with demo account. Both knowledge will give us another advantages which also lead us to get experience. I want to remind people and also to myself to stay patience to understand this business correctly because there is no point we can get if we are in hurry.

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  7. #2476
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    First is that we need to have the knowledge, it is he basic important thing to any trader, if you have got the knowledge, that would make you a more successful trader. Knowledge and good trading skills makes us have the obviously needed skills. Experience is something way more important that can be gotten from the demo account and then live trading account.

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  8. #2477
    Trader Lyon's Avatar
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    Knowledge is the best thing that we can have. If we want to make money from the market, building a strong trading knowledge and then mastering it on the demo account in form of having the basic trading knowledge and experience. There is no fast approach in making money. The experience takes quite some time to come through.

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  9. #2478
    Trader Senorita's Avatar
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    Experience helps us do things when it matters because we have to pass through the rough times to discover a better way to handle our trade. Knowledge is something we need to achieve because this improved us on the level to handle our trading which is good. Good experience would give us all the chance to manage loss and we can build more knowledge from this experience while hoping to make nice wins.

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  10. #2479
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    Quote Originally Posted by ara View Post
    In accordance with the wise words "experience is the best teacher", of course, everyone will not refuse this, the wise will always learn from their experience, and the worst people are those who don't learn from their experience.
    I think the wise actually learn from the experience of other traders, more like gaining knowledge from other traders and then making sure that we don't make the same mistakes that other traders has done. If we can't make good correction and avoid repeating the same mistakes then we will always loss money. I cherish my experience but I like learning from other traders.

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  11. #2480
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    Our knowledge is very important for us to understand well this business first we are learn without practice or experience but when you are learn basic things of this business then you are need to learn from your trading experience. This experience is help you to make success on forex market and help you to earn every day big profit on your trades.

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