Learning curve - Page 150
Page 150 of 254 FirstFirst ... 50100140146147148149150151152153154160200250 ... LastLast
Results 1,491 to 1,500 of 2538

Thread: Learning curve

  1. #1
    Educator
    Join Date
    Jun 2013
    Posts
    1,105
    Promo (¢)
    15
    Thumbs Up
    Received: 579
    Given: 191

    Learning curve

    Before starting making bunch of money trading Forex, it's very useful to honestly recognize your place on learning curve.

    Let me explain.

    It's very easy to think that "now you are ready to make it" after series of profits.

    But consistency is what makes professional trader (I mean, who made trading his occupation). How to recognize - are you ready or not?

    I would divide development of a trader on several phases (well, don't get offended if you recognized yourself :) )
    The more honest you are with yourself, the faster you can go through all that phases.


    1. Beginner.


    You have come to the market and try making your first trades. Something works, something doesn't, but you enjoy the process, and after getting good profit you blow up your account. You never suspect that risk you have taken was enormous. You think that your "method" what inperfect.

    This traumatic experience leads you to a level of "advanced beginner".


    2. Advanced beginner


    Now you understand that you don't have a method and start "learning".

    Well, many people are stuck in this level, because there are lots of books and websites out there, huh.

    You face tons of conflicting information, you try to structure it reading more. You begin absorbing information, the more you dive into that sea the more you lack understanding - how to trade to make money?

    Most novices search for a "solution" - they believe that solution exists "somewhere", that somebody has "foolproof trading method", this is really time of trial and error.

    When you finally understand that market itself has uncertainty and ambiguity in it's nature, you understand that analysis and trading theory is not as important as risk management and good trading habits.
    You recognize limitations of all theories.

    Once you've recognize it, you go to the next level - I call it "struggling trader"


    3. Struggling trader


    Struggling trader no longer searches for a holy grail, but he (she) drifts between one trading style to another.
    He doesn't know what to stop on, but he already keeps his losses short, he understands importance of capital management and no longer falls into deep drawdown.

    Lack of consistency leads to chaotic drift of equity - he earns money, than gives it back to the market, than again makes up his mind and finds good trades and earns money again.

    I would say, trader CAN already earn money in this phase, but he can't keep it. All that market understanding that he gained through the years, pushes him to overtrade.

    Struggling trader recognises that he lacks discipline.



    4. Average good trader.


    What average good trader really does - he knows how to learn trading and that makes him who he is.

    He accepted 100% responsibility for his trading and there is fundamental difference between struggling trader and average good trader. While struggling trader relies on the market, he follows the market, but he rarely thinks of his actions, attention of average good trader focuses more on his actions.

    He already knows limitation of all theories, he knows importance on money management, he recongnizes importance of consistency.

    He keeps a journal, re-evaluates - what he does well, what not, what to work on, what to keep as it is, real work starts in this point.

    Also, average good trader works on his psychology and self awareness that makes him more disciplined.
    He studies the market, collaborate with traders but already knows that his action and opinion is what matters.

    Right focus of this phase eliminates a lot of mistakes, bad trades and finally allows trader to earn and keep money.

    I would say, this is a transformational phase. A lot of work to do, but it's like planting a tree - in needs time to grow.
    This is sort of personal growth. When we choose our reaction, when we refocus our attention and take responsibility for our actions, we grow personally and professionally, especially in trading.


    5. Master trader


    I would say, there are not so many traders that reach this point.

    At this point, trader knows himself and the market. He executes trades intuitively and as he knows his strengths and weaknesses, he can be more aggressive with what he does well, and defensive in other situations. Of course, it ends up with increased profitabilty and equity curve of a master trader can contain many winning streaks.

    Master trader focuses his attention right, thanks to the work done on the previous phase.

    I would say, "the tree had grown".



    Bottom line:


    It's important to recognize your place on the learning curve. Some people can't take responsibilty for their actions and accept that trading is a hard work, that's why they never come to the "average good trader" point.

    So, decide for yourself - where are you on this curve?

    The more honest you are, the closer you get to the destination. Yes, it takes time to develop and can't be done overnight. Do that work or quit!

    Not allowed!
    Last edited by Value trader; 08-08-2013 at 08:03 PM.

  2. #1491
    Banned
    Join Date
    Mar 2015
    Posts
    8,446
    Promo (¢)
    0
    Thumbs Up
    Received: 56
    Given: 33
    The learning curve is very important when it comes to succeeding, and not as though the learning curve will be completed so easily, it will take some time for one to be able to understand how the market works and the most essential part of learning in forex market is to make sure that you have practised and made good use of the demo trading account the right way.

    Not allowed!

  3. #1492
    Registered user
    Join Date
    Apr 2016
    Posts
    3,383
    Promo (¢)
    1,875
    Thumbs Up
    Received: 14
    Given: 3
    Quote Originally Posted by davido View Post
    Without learning how to trade no one can get to understand how this business work exactly, in order to get to understand this business and have good experience and knowledge we must learn how to trade in the demo account or other good sources, learning is the most important thing we all need time for, cause without obtaining a proper training we can't trade and succeed.
    There is no fixed way of earning in Forex but when on learns this well he knows how to achieve success here. One might use different method compare to the others. the more important thing is how knowledgeable they are and their mindset while doing it. they must be persistence, positive thinking, never give up and many more.

    Not allowed!

  4. #1493
    Rookie
    Join Date
    Apr 2014
    Posts
    3,186
    Promo (¢)
    0
    Thumbs Up
    Received: 48
    Given: 39
    Quote Originally Posted by geddam View Post
    There is no fixed way of earning in Forex but when on learns this well he knows how to achieve success here. One might use different method compare to the others. the more important thing is how knowledgeable they are and their mindset while doing it. they must be persistence, positive thinking, never give up and many more.
    Learning helps us to understand the market and build our profitable trading system. Learning is a bit tough because a trader just not need theoretical knowledge but also needs to learn psychology. It is at the time of loss our major test of self control is there. Loss and profits are two inseparable part of forex trading because it is not possible always to predict the price movement.

    Not allowed!

  5. #1494
    Banned
    Join Date
    Jun 2016
    Posts
    6,262
    Promo (¢)
    0
    Thumbs Up
    Received: 12
    Given: 8
    It is a must to learn how to trade forex, cause learning is the only solution to success in this trade if we don't learn we'll always lose this is why it is very important that we learn this trade right in the beginning and get to understand how it work before we should start trade in the love account.

    Not allowed!

  6. #1495
    Registered user
    Join Date
    Jun 2016
    Posts
    2,285
    Promo (¢)
    -25
    Thumbs Up
    Received: 14
    Given: 10
    Learning this business is very good for you to know that you will be able to trade this business for you to be able to trade this business very well. so to that effect you will be able to trade this business in a very good mode. learning this business really have a very good trading curves that will make you to trade this business very well.

    Not allowed!

  7. #1496
    Registered user cutiekc's Avatar
    Join Date
    Dec 2013
    Posts
    23,508
    Promo (¢)
    2,685
    Thumbs Up
    Received: 158
    Given: 236
    In forex trading the learning curve is a huge factor, in the sense that if we want to become a successful trader the we will be needing to learn. Furthermore, there is the demo account where learning has been made more easier for trader, therefore we ought to take learning seriously because that is the only way in which we will be able to become successful as a forex trader in the business.

    Not allowed!

  8. #1497
    Registered user
    Join Date
    Aug 2013
    Posts
    12,830
    Promo (¢)
    0
    Thumbs Up
    Received: 94
    Given: 1
    Quote Originally Posted by cutiekc View Post
    In forex trading the learning curve is a huge factor, in the sense that if we want to become a successful trader the we will be needing to learn. Furthermore, there is the demo account where learning has been made more easier for trader, therefore we ought to take learning seriously because that is the only way in which we will be able to become successful as a forex trader in the business.
    Learning about the curve in here certainly is very important indeed. If we want to become successful, we will always need to see a lot of things to learn. Learning from the demo account will be one way to make everything easier too. But there are no guarantee everything will work as what we suspected and we need to always be cautious in here in making decisions.

    Not allowed!

  9. #1498
    Registered user Killer_Queen's Avatar
    Join Date
    Jul 2016
    Location
    in a place i call home
    Posts
    2,728
    Promo (¢)
    570
    Thumbs Up
    Received: 57
    Given: 52
    to be honest, do you recognize your place on learning curve? try to answer this question or think it deeply before you try to answer this. for me, i will answer that i am still struggling trader. like the information above from thread starter, i am no longer searches for a holy grail and i do not drifts between one trading style to another. i know what to stop on and understand the importance of capital management and no longer falls into deep drawdown. the only issue i face now is my emotion control and still lack of confidence.

    Not allowed!

  10. #1499
    Banned
    Join Date
    Mar 2015
    Posts
    8,446
    Promo (¢)
    0
    Thumbs Up
    Received: 56
    Given: 33
    Quote Originally Posted by Killer_Queen View Post
    to be honest, do you recognize your place on learning curve? try to answer this question or think it deeply before you try to answer this. for me, i will answer that i am still struggling trader. like the information above from thread starter, i am no longer searches for a holy grail and i do not drifts between one trading style to another. i know what to stop on and understand the importance of capital management and no longer falls into deep drawdown. the only issue i face now is my emotion control and still lack of confidence.
    You have got a very important question, if only traders do recognize their places in the learning curve and actually do what is needed they have to get done before they can become successful, I am sure there will be more success rate in the business, but most people don't have the important of money management, that way all they want to do is to keep on taking much risk when trading.

    Not allowed!

  11. #1500
    Banned
    Join Date
    Jun 2016
    Posts
    4,938
    Promo (¢)
    0
    Thumbs Up
    Received: 4
    Given: 3
    If you want to succeed in forex you should learn to understand everything about it, there should be no curve in your learning a good learning is required to understand everything about forex, trading without a good understanding about the market, you cannot think of success, so you should learn and understand forex well before trading.

    Not allowed!

Page 150 of 254 FirstFirst ... 50100140146147148149150151152153154160200250 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •