I know some people who practised for years before starting the actual trading. After all this practice and looking at charts daily they gained enough experience to earn big profits. So, saying that practice makes trading perfect won’t be wrong at all.
Jan 28 2022 at 07:48
Actinism posted:
I know some people who practised for years before starting the actual trading. After all this practice and looking at charts daily they gained enough experience to earn big profits. So, saying that practice makes trading perfect won’t be wrong at all.
Practice is key as well for sure like honing any skill just have to work on the fundamentals like psychology and discipline too which only come in with live trading imo
Practice is key in any discipline but maybe even more so in this game of ours and the psychological aspect of trading is pivotal
The proverb is true to each word. Not only in forex but in every other field too, the proverb is applicable. New traders in forex often make mistakes but as they keep on learning, mistakes reduce and so does their loss. Practice is infact one of the most important things that can be done to succeed in forex.
I still think the pursuit of perfection is a flawed one as I said but exposing yourself to the markets helps in so many ways.
If you can't spot the liquidity then you are the liquidity.
Forex doesn’t only require human effort; it also requires some human qualities, including patience. As long as you don’t have patience, you can’t be a good trader. So, develop your patience even before igniting your trading skill. The reason is that your skill will be of no use until you have patience.
Whether it is Forex trading or any other profession, patience is necessary everywhere. It is a human quality that helps a person to be determined and focused on his work. But we see the absence of such highly required human qualities among traders. Owing to this reason, a trader can hardly advance in trading.
That’s very much true in any part of life. Without getting out of your comfort zone, you will not get anything in life. Thus, traders should develop a practice of learning from their trades. To achieve that, backtesting is the best solution. So follow a simple pattern—backtest your trades regularly, find loopholes, revise your strategies for future trades.
SteveFx11 posted:Very much lacking in new traders though as the focus is on making money quickly too often. Then they go down the route of looking for shortcuts which ironically turn into the total opposite.
Whether it is Forex trading or any other profession, patience is necessary everywhere. It is a human quality that helps a person to be determined and focused on his work. But we see the absence of such highly required human qualities among traders. Owing to this reason, a trader can hardly advance in trading.
If you can't spot the liquidity then you are the liquidity.
Mar 17 2022 at 08:14
Practice plays a very important role in making traders well versed with the trading strategies and the trading platform. More a trader practice, more hold he gets on his trading strategy and operating the trading platform.
Mar 17 2022 at 15:42
Practicing and trading on a demo account are crucial for success and I believe the more practice you have, the more prepared you will be when you open a real account. Still though, this doesn't guarantee that you will do as well trading live or that you'll make money.
In Forex, there is no alternative to practicing for learning about trading. No video tutorial and e-book is capable to giving you so much knowledge that practice can give you. So, make practicing your trading partner and I assure you of success from trading. Lacking of practicing tendency can lead to losses.
Mar 22 2022 at 08:04
SteveFx11 posted:
In Forex, there is no alternative to practicing for learning about trading. No video tutorial and e-book is capable to giving you so much knowledge that practice can give you. So, make practicing your trading partner and I assure you of success from trading. Lacking of practicing tendency can lead to losses.
I agree, the market is the best educator. You cant progress as a trader unless you're live trading(after learning a strategy and doing due diligence of course)
Practice make human perfect, is one of my favorite proverbs ever!
There is no alternative to practicing because this is the only way a trader can develop through. But, unfortunately we see traders out of the tendency to practicing. This is the reason that lags them behind. They should not depend on indicators’ signals because these signals go wrong maximum of the time.
Mar 23 2022 at 09:35
Michihito posted:To an extent yes, but sometimes no. Forex isn't for everybody. You can put in days, hours, weeks, months or years and still be unsuccessful.
There is a proverb that practice makes a man perfect. Do you think that this proverb is suitable for Forex market. I think it is true. If you practice demo trading, follow the basic rules of Forex trading and thus in this way you can get proper training through this practice then you surely do better in Forex business.
Practice makes perfect as they say but sometimes its not enough you need passion for this business
When you practice, you gain confidence and enhance your skills in a particular domain, same way when you talk about forex trading, it is important to understand the market and it’s shifting tendencies before you use real money, this way, you avoid the risk of losing your capital and are able to productively use the opportunities to your advantage.
Yes, I believe with patience comes great success. Especially, when it comes to trading, the uncertainty that the market brings to the equation can be quite challenging and stressful for traders, new or experienced. With only practice you will be able to understand how a particular system works. Likewise, to be able to ace trading, practice on a demo account is quite valuable and it also gives you a wide view of the dynamics of the market environment.
Apr 28 2022 at 06:46
Yes, there is no substitute to practicing more and more. And you already know that traders make a frequent mistake like whenever they see the market following uptrend, they make a buy entry without thinking and they did the opposite when they see the market following downtrend. Practicing helps traders recover from these mistakes.
