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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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  2. #11
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    Quote Originally Posted by rinaji View Post
    As I feel, Actually knowledge can be obtained without the actual experience, but maybe it is subjective knowledge,is it right? While we need knowledge objectively as a counterweight. In fact the theory could change if we discover new facts, and it takes knowledge objectively. But I do not have any idea about the logic, is the logic can be changed? Maybe anyone have an idea about it and can give an example.
    Theories about forex is not fixed, not like in the math. That is the fact that traders do not only requires subjective knowledge, but also need some new studies were based on experience. And we must develop and continue to look for new evidence in accordance with experience. Because we are the market experts, not a mathematician.
    A simple example, we know that medical science continues to evolve in accordance with the progress of diseases. It is an example of a balance. And almost every time there is always a new theory about the medication. Because I am sure they continue to learn from their experiences, in addition to subjective knowledge they already had before.

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  3. #12
    Trader rinaji's Avatar
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    Quote Originally Posted by RoboLover View Post
    Theories about forex is not fixed, not like in the math. That is the fact that traders do not only requires subjective knowledge, but also need some new studies were based on experience. And we must develop and continue to look for new evidence in accordance with experience. Because we are the market experts, not a mathematician.
    A simple example, we know that medical science continues to evolve in accordance with the progress of diseases. It is an example of a balance. And almost every time there is always a new theory about the medication. Because I am sure they continue to learn from their experiences, in addition to subjective knowledge they already had before.
    Wow, your explanation is easy enough to understand, we are working in floating market, every time there is a change in line with changes in global economic conditions, if we talk about the world of medicine, of course, there is the development of methods and types of treatment in line with the changing times, and the researchers treatment always do research about it, I have no idea about research in the forex market, maybe we just do our own research. In fact this is the market, can not be predicted.

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  4. #13
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    here in the forex we can gather knowledge by the two ways one is by reading and other is through practicing. but i think that practice is the best for all the traders. and also so effective for trading time, so i request to all the traders for doing a lot of practicing on the forex.

    that is why we can say that practice makes a man perfect and in the forex make help to the trader to earn the money a lot.

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  5. #14
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    There is a lot of knowledge that we can and we should gain from our experience. From experience on the forex market i know for a fact that when a currency pair attains a certain level its only option is to go the opposite direction.that is if the price has declined to a certain level it will rise and vice verse.

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  6. #15
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    Yes that is a good thing to have the knowledge of Forex so that you can use it fully.As learning is one of the best tool to get knowledge in trading business .As this business needs some of the expertise to get more and more profit in trading business.Knowledge is best tool for you to improve yourself. That you cannot say they you have enough knowledge of Forex because at every stage of trading you are learning form other that what are the best ways to trade.You can pick the best things that the others have.So i also cannot say as i am a newbie so i get the things from others.

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  7. #16
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    I can give more importance on practical experience which we can get from continuous demo/real trading. The knowledge and experience we can able to gather through practical trading can make us more skilled and experience.

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  8. #17
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    It is experience that get the trader success in this market, and you will get the experience by the actual working you are doing all the time. The experiences is the senior of the knowledge as long as I am concerned, forex traders only need to be very active and be sure on what they do at all times to have all thing settled.

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  9. #18
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    Yeah you are proper The idea knowledge comes from experience that's why i be asked to gather huge experience on this institution to be successful. Forex can be very tricky AS WELL AS challenging business ALONG WITH we will do This simply to have earn cash from here but to be able to make huge earnings consistently my partner and i be asked to sacrifice huge difficult function ALONG WITH patience. since the we are generally many learn It learning would be the main key to be able to become success here.

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  10. #19
    Trader rinaji's Avatar
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    Quote Originally Posted by silverlady View Post
    It is experience that get the trader success in this market, and you will get the experience by the actual working you are doing all the time. The experiences is the senior of the knowledge as long as I am concerned, forex traders only need to be very active and be sure on what they do at all times to have all thing settled.
    It is about the process that we get a variety of information in any form, as we learn in a school, we get a lot of theory, but of course the theory without practice is not useful at all, is a case about football commentator, perhaps they have a lot of knowledge about football, but they may not necessarily be a good ball player. Because they only know about the theory.

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  11. #20
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    Knowledge come from reading books, ebooks and any thing that we read and can study. Experience happen when we are doing it over and over again. I think its best to say that skills come from experience. Than knowledge come from experience. Because you can have knowledge by just reading but you can't have skills by just reading you need to practice it.

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