Learning and earning

as a newcomer, first thing you need to do is to common in Forex trading and that means you need to have lots of extra time not only in trading but in learning also. And the most important thing is that you need to spend lots of time practicing and not going to make profit or don’t expect to get profit in the first two months. But practically mostly newcomers don’t believe the importance of demo account and try to make money very rapidly without learning.

mlawson71 posted:

Chachingggg posted:
Month at a minimum. I don't know why so many people start on a real account.

I am not sure one can learn much for a month beyond the basic functions of their trading platform. I don't think one month on a demo account is nearly enough.

Yes i agree with you, I also spend more than three months initially on demo account before jumping on the live account. As per my opinion one month is not sufficient for the learning.

Learning is the foremost ways to keep survive in this volatile trading place in a proper way. But sorry to say maximum traders who are particularly newcomers try to make money from here without learning. As a result they become loser when trading practically. It would be great if we choose the broker which always ensures best trading environment for learning this trading place by providing exclusive educational facilities.

I don't think you can earn for long if you are not placing any importance on learning first. I always say that learning is a continuous process. The more you learn, the more you earn, provided you know how to apply what you have learnt practically. Forex is an immense field with new developments coming in everyday. Learn from them to improve your trade and you will increase your chances of earning better.

sarahlawrence posted:
I don't think you can earn for long if you are not placing any importance on learning first. I always say that learning is a continuous process. The more you learn, the more you earn, provided you know how to apply what you have learnt practically. Forex is an immense field with new developments coming in everyday. Learn from them to improve your trade and you will increase your chances of earning better.

Of course, learning is an ongoing process. There is no ending point, I have almost 7 years trading experience and till now I’m learning.

Learning should always be the first step If you are a beginner and want to learn more about forex trading then according to my experience go to Babypips School of Pipsology

Adribaasmet posted:

sarahlawrence posted:
I don't think you can earn for long if you are not placing any importance on learning first. I always say that learning is a continuous process. The more you learn, the more you earn, provided you know how to apply what you have learnt practically. Forex is an immense field with new developments coming in everyday. Learn from them to improve your trade and you will increase your chances of earning better.

Of course, learning is an ongoing process. There is no ending point, I have almost 7 years trading experience and till now I’m learning.

7 years is a long time. May I ask what have been the greatest lessons that you have learnt in your 7-year long trading experience?

Learning from experience and taking your lesson after mistakes - the most precious gift !

TiffanyK posted:
Learning from experience and taking your lesson after mistakes - the most precious gift !

and no one can teach us better than our experience

Just use a demo when your learning. Then there are no losses to bear. I only go live when know how on demo

It is obvious that for stable and good earnings you'll have to learn first. Learning teaches you how to optimally utilize your earnings and maximize them. So keep the process of learning live and kicking throughout your lives!

Yes, like I shared, continuous learning along with experience can make trading interesting and can be a profitable if done in good strategy/logic along with good management.

I found practicing risk management on a demo account very useful. Many people ignore this on demo but it made things so much easier when I went live

6 months is quite long. Could try with 3months on micro account. I prefer micro to demo anyway.

Yes, demo is indeed useful and a perfect way to start trading. Earning always comes next to learning. No surprise why school/college comes first than working. 😉

Learning is must if you want to be a successful trader. It is impossible to win in forex if you don't have sound knowledge and consequently you will soon end up blowing your account.

korson posted:
Learning is must if you want to be a successful trader. It is impossible to win in forex if you don't have sound knowledge and consequently you will soon end up blowing your account.

and it is also a fact that you can not learn trading without losing money.

pmichael posted:

korson posted:
Learning is must if you want to be a successful trader. It is impossible to win in forex if you don't have sound knowledge and consequently you will soon end up blowing your account.

and it is also a fact that you can not learn trading without losing money.

so true! A trader who never lost money is never a trader.

You are absolutely correct. Studying should be the first move.