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How does experience come?
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Member Since Aug 04, 2020  8 posts Aug 04 at 17:27 (edited Aug 04 at 17:35 )
You're right. It is not only time and it is not only bad experience. I have been trading since 1997 but I start to be consistently make profit last one year and I have friends who started to trading in high school, he is mid 40's now and he is still terrible trader. My brother is trading last 15 years and still he is losing money and every time he lost badly. His motto is 'all or nothing' so many bad experience.

You would ask; if you are good at trading and they are bad why you didn't help them? Answer of this question is also answer of your question. I did; I recommend to them books after they ignore me and still they were losing I bought the book (remittances of a stock operator) and send them as gift. My bother has never read it. My friend read it and ignore it. Recently my friend start to write to me on whatsapp. I put him such a situation that he can not ignore his mistakes but result wasn't became better on trading, result was escape from me. We were close to break 30 years friendship. I understand that, for him it is not about trading it was another something. As Ed Seykota said 'everybody find what they are looking in market'

So what it makes you experienced trader in my opinion is being open mind, critical mind and self aware person. You have to be honest to yourself. You have to search for true not what is in your mind as true but real true. You have to have passion not addiction of gambling. If your character is not improve itselves that way you would always be like a child in front of markets. This is nothing to do with time. What about bad experience, it is not about experience but how you deal with that experience. If you blame broker, your wife your children, your computer or birds on air than you will never get something from that bad experience next time when it is repeat.

GlobalScalper

Member Since Jul 08, 2019  39 posts Jack Smith (GlobalScalper) Aug 05 at 18:01
@decapped It's one of the most remarkable comment I've ever seen. You've just said of my mind.
Greetings

Beagelv

Member Since Jul 27, 2020  17 posts Beagelv Aug 23 at 17:01
I would say that the analysis of losses is the key to profitability in trading in the future.

AliaDare

Member Since Jul 19, 2020  59 posts AliaDare Aug 25 at 01:01
It takes a lot of hard work to gain experience in trading. Forex trading is not an easy thing to do as you come into the market and make a profit easily. First, you need to get an idea about the price movement through demo trading. You need to gain a lot of knowledge from YouTube, Google, and various brokers while doing demo trading. You can learn any experience from a complete mentor. And you also have to learn from your mistakes.

pegima

Member Since Sep 13, 2020  17 posts Pegima (pegima) Sep 13 at 09:24
Experience is something that you gain by doing a thing for a considerable time.

A software developer can become an experienced software developer only by developing software/bug fixing for many years.

An accountant can become an experienced accountant only by preparing balance sheets, p&l accounts and other related things for many years.

In forex also you gain experience by trading

Never Ever Give Up
Sammiebwoy

Member Since May 01, 2020  7 posts Sammiebwoy Sep 15 at 03:15
EXPERIENCE CAN BE GOOD OR BAD AND IT ALWAYS COMES WITH TIME AND PRACTICE,BUT IT CAN ALSO BE GOOD OR BAD OR NONE BECAUSE I BELIEVE THE EXPERIENCE WE ARE TALKING ABOUT IN FOREX WHICH IS THE ONE WE WANT IT COMES WITH A FACTOR OF TIME ,PROGRESS AND A CONSISTENT APPROACH OF DOING THE SAME THING AGAIN AND AGAIN LEARNING FROM MISTAKES AND CORRECTING THEM AND GETTING BETTER HENCE MORE EXPERIENCED. IT CAN BE BAD IF YOU ARE STUBBORN AND FAIL TO LEARN FROM MISTAKES AND DOING THE WRONG THINGS OVER AND OVER AGAIN ,OR IT CAN BE NONE.

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.