There is a proverb that practice

RobSchiz posted:

AliaDare posted:
Yes, if I trade without practice, I can't trade. Practice can make me the perfect trader. So when I lose consistently I try to take out some time and do demo trading it helps to perfect my skills.

Practice on a demo account helps a trader to gain confidence and make proper decisions.

Yes, it is possible to develop skills by practicing the demo. Knowledge about many strategies is created.

There is no alternative to practice. But to do practice, one needs some systematic approach. Just random demo trading does not help. Treat demo like live trading.

According to me, practice is the only key to profitable trading. Consistent practice and determination never lets a trader bear losses.

Yes, this is very much true and following this proverb you can make a good amount of money. Proper knowledge comes with proper practice. Forex trading is all about using your skills and trading at the right places.

Practicing in demo trading accounts will surely help the beginner traders understand the real market. And this proverb too fits for all the forex traders. More the practice, more the developments in skills.

Those that focus on practice and improving their skills will do much better than those just focused on making profit

@spacexdragon Exactly. You are right. But unfortunately most people focus on making money without developing enough skills. That's why most traders are losing money.

spacexdragon posted:
Those that focus on practice and improving their skills will do much better than those just focused on making profit

Yes. Practice makes a man perfect.

Of course yes. This proverb ‘practice makes a man perfect’ will fit perfectly for all the forex traders. How much they practice and learn will eventually reflect in their trade successes.

lilliemorris posted:
Of course yes. This proverb ‘practice makes a man perfect’ will fit perfectly for all the forex traders. How much they practice and learn will eventually reflect in their trade successes.

Practicing helps a trader to reduce the risk probability.

Guess that practicing is one of the inevitable parts of trading activity, otherwise you just waste your time. Of course, there are some traders who prefer only theoretical approach to any kinds of activity and they believe that if they know all the theories, then it will be easy to handle practice, however it's not about trading at all. As far as I concerned, practicing brings traders much more experience than theory, but we shouldn't underestimate the role of theory in this case. I just want to tell that we shouldn't neglect both practicing and theory. Everything must be combined and stay in harmony. Something like that.

We all know that practice makes a man perfect.

Yes practice is important but most people price just for few months then jump into live trading without developing any trading and mindset strategy. That's why at the end they never learn.

To be successful at Forex you need to practice for years and years and even then there can be months of drawdowns

The role of practice can hardly be underestimated. This is really a very important aspect.

@skihav There's no option to underestimate the role of practice in forex trading. No one can develop his own strategy without practice. Even to get familiar with an existing strategy one needs to practice.

There are plenty of options to practice forex trading. You can practice it in a demo account.

Yes there is no alternative to practice when it comes learning. For learning practice is the key. But the practice should be done with required knowledge of trading.

Practice is one of the most important things that can help you become better at forex trading.