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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. #2971
    Trader Toyen's Avatar
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    Quote Originally Posted by naeem555 View Post
    our knowledge and experience can give us good results but with this we need of some proper personal behavior as well, if we have good skills and experience but we do not have control on self still we cannot survive and in end we will lose all, so do trade and never think about loss, you should think positively but do accept loss also, its way to secure trade and way to earn some good profit also
    What i know is that we need to first seek the knowledge, that is what i know that forex traders could use to know how to trade the market. With that known, the trader will have to trade with the best possible training, that is what will bring out the experience in that trader. We can trade the market with certainty when we are fully experienced about what we want to do in the market, that makes traders to survive for long time.

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  3. #2972
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    Quote Originally Posted by Toyen View Post
    What i know is that we need to first seek the knowledge, that is what i know that forex traders could use to know how to trade the market. With that known, the trader will have to trade with the best possible training, that is what will bring out the experience in that trader. We can trade the market with certainty when we are fully experienced about what we want to do in the market, that makes traders to survive for long time.
    trader should do best possible practice but what about time? some time we spend more time and not learn properly actually we choose a wrong path, we can survive we can place right orders if we trade properly on real and demo both, so learn as much as you can because our learning make us better or make us loser, if we learn it well we can do well, so experience comes first and for this we need to give it time and attention both

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  4. #2973
    Trader Sascha's Avatar
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    Quote Originally Posted by Toyen View Post
    What i know is that we need to first seek the knowledge, that is what i know that forex traders could use to know how to trade the market. With that known, the trader will have to trade with the best possible training, that is what will bring out the experience in that trader. We can trade the market with certainty when we are fully experienced about what we want to do in the market, that makes traders to survive for long time.
    the first thing we get and must learn in this business is the knowledge. experience will come to us later once we learn everything through theories and able to practice them all slowly through demo account. with mistakes we make with our trade, we'll earn another new experience to add inside our head. but since our memory could be limited, we can write things down inside our trading book.

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  5. #2974
    Trader Batavia's Avatar
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    It's true. When we get an experience on the same time we have got new knowledge. Experience is needed by traders. But sometimes bad experience can make traders mental down. We know loss is bad and it is a part of risk of this business we must to accepet it. Taking lesson from it all can make us be better in the next.

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  6. #2975
    Trader Sixteen's Avatar
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    It's so important we discover how to build the best knowledge that can give us the chance to maintain a strong trade here. Knowledge comes from our experience and this gives us the very possible chance to know how to handle this trade properly and see that we can earn from this business. Experience is vital here and what is important is to know how to manage our trade and see we build something promising in forex. With the right knowledge we will know what works and know what we can do to make successful profits.

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  7. #2976
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    Knowledge is one of the most important things, we should take it seriously. Knowledge actually determines how we will get to be able to handle the business, so when we have the knowledge and then we take it to the demo account, that is how we can develop a good experience on how we can become profitable. Having the knowledge takes less time than having experience.

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  8. #2977
    Trader Sascha's Avatar
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    Quote Originally Posted by Sixteen View Post
    It's so important we discover how to build the best knowledge that can give us the chance to maintain a strong trade here. Knowledge comes from our experience and this gives us the very possible chance to know how to handle this trade properly and see that we can earn from this business. Experience is vital here and what is important is to know how to manage our trade and see we build something promising in forex. With the right knowledge we will know what works and know what we can do to make successful profits.
    then the only thing we can do to discover our best knowledge from market is through practicing with our strategies until we can understand when to trade and when not to trade. at first we need to get the knowledge about market by reading its patterns, monitoring the price movements for hours, and be there when market is moving fast during specific sessions to witness its movement directly to help us learn about market characteristics.

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  9. #2978
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    Quote Originally Posted by Sascha View Post
    then the only thing we can do to discover our best knowledge from market is through practicing with our strategies until we can understand when to trade and when not to trade. at first we need to get the knowledge about market by reading its patterns, monitoring the price movements for hours, and be there when market is moving fast during specific sessions to witness its movement directly to help us learn about market characteristics.
    no doubt we need to get knowledge, we need to take that knowledge for some practice, when we do practice we can earn something good later, so learn trade and make sure you trade properly to learn, our knowledge is our base if our base is good then we can do something better later, but if we do not have good base we cannot survive for long and in end we will lose, so any trader can get success if we have pure learning way

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  10. #2979
    Trader Toyen's Avatar
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    Quote Originally Posted by naeem555 View Post
    no doubt we need to get knowledge, we need to take that knowledge for some practice, when we do practice we can earn something good later, so learn trade and make sure you trade properly to learn, our knowledge is our base if our base is good then we can do something better later, but if we do not have good base we cannot survive for long and in end we will lose, so any trader can get success if we have pure learning way
    We all need knowledge, but preferably, we need the experience the more, because the experience is senior to the knowledge. Trading the market is not so simple, that is the reason for traders to be training at all time, it is that training that will bring about the pattern at which the trader will be trading, this is what i know that will bring about the success of the trader when it is done rightly.

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  11. #2980
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    the experience is required for making of successful trading and the trader should gain the knowledge and the experience together to be able to trade well and makes money easily and without making of big mistakes and so he will not leave the market easily and will be able to make money for long time without exposing of his account to big risk.

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