How does experience come?

May 18, 2020 at 08:09
4,617 Views
78 Replies
forex_trader_745947
Biedrs kopš   57 ieraksti
May 18, 2020 at 08:09 (labots May 18, 2020 at 06:33)
Can anyone please explain to me how the experience is gained?

Someone says 'experience comes with the times' but I don't believe it when it is on Fx-Market.
I've seen a lot of people spent almost 10 years in Fx-market but believe me when I talk to them about Fx Trading I just feel I'm talking with a 6 years old kid.

There is a saying 'success comes from the experience and experience comes from the bad experience'.

Well, I don't believe it too. Wasting plenty of time and a huge amount of money isn't it a bad experience?
If so, I've known many people they wasted plenty of time and lost a lot of money on the Forex market BUT STILL, THEY HAVE ZERO KNOWLEDGE ABOUT FOREX MARKET. I would say, THE KNOW NOTHING ABOUT FOREX TRADING.

So could you please explain to me 'How or where does experience come from ?'

Thank you all.
Biedrs kopš   119 ieraksti
May 19, 2020 at 07:33
Of course, experience comes with a certain amount of time spent in trading.
May 21, 2020 at 15:56
Experience comes to you with every successful deal or failure. When you do something right, you make conclusions, and when you fail, you learn from your mistakes. With every withdrawal of money that you make. The more you trade, or do the things that are related to it, you become more experienced. I wouldn't say it comes with time. Someone can trade for 10 years, but he only does it on weekends and he doesn't do it well. And someone will spend 2 years trading, but at the same time do it for a few hours every day and on weekends. As you understand, someone who has been trading for 10 years will not necessarily be more experienced than someone who has been doing it for 2 years. You have to draw conclusions for yourself.
forex_trader_745947
Biedrs kopš   57 ieraksti
May 22, 2020 at 08:58
Fearlesswalker kelvin

You've explained better than me, buddy. I agree with you.
Thank you.



kazile

Well, but that's not true for everyone, Some are just wasting time & money but learned nothing.

Great day.

May 22, 2020 at 15:34
Experience comes and counts by the number of years you have been trading successful, You master the act of making profits as against losing, Eg Your risk to reward ration should always be at least 80/20, which simply means there is 80% Chance of you wining any trade you place than losing it, to achieve this you my be a very patient trader, that I my trick.
Market Direction
Biedrs kopš   5 ieraksti
May 23, 2020 at 05:18
Experience comes from loosing trades when you take it as a challenge WHY? If you assess your trades and analyize the reasons behind you will learn and earn a lot. Do not call it just LUCK.
Biedrs kopš   373 ieraksti
May 23, 2020 at 11:36
GlobalScalper posted:
...
So could you please explain to me 'How or where does experience come from ?'
 

From failure. Learn and earn (gain experience).

Some learn it the 'easy way' by reading, listening, watching and testing a lot before they start anything for real. Others (the most of us retail traders) learn it the 'hard way', with real money from the very beginning. But that's still the best way, because demo accounts are never the same like real accounts (different spreads, volatility, leverages, markets/server connections etc.).

You don't only need to know all the basics about Forex and CFD trading (strategies with huge trends/zones/areas, indicators and so on), but you also need to know how brokers are working (some are changing spreads/swaps/rollovers within minutes; broker bonuses originally are not meant for you but only for them (from their banks behind them); some are even market makers who might have different numbers to other brokers; also look on the execution/server loads when it comes to high volatility etc.).

You might read all those suggestions from pro-traders aswell, but most retail traders don't have the right mindset or even don't read it (maybe they don't want to hear it because of their way too big and greedy egos).

So yeah, experience comes from failure. Trial and error, all the time. '70-90% of all traders are losing their money', that's what brokers are telling their clients as soon as they visit their pages (better known as: 'High Risk Warning'). 😉
patience is the key
Biedrs kopš   98 ieraksti
May 23, 2020 at 12:18
There is NO luck in trading

If you have built your strategy, back tested, traded your strategy /edge on a Demo, over a suitable period of time (min 3 Months)
trade only one pair.
And your money management is in place, and you understand when to trade ,more importantly when not to trade. depending on what you are trading.

I believe that is the start,and your experience will grow from there.
Not Specified
May 23, 2020 at 19:27
Experience comes and counts by the number of years you have been trading successful, You master the act of making profits as against losing, Eg Your risk to reward ration should always be at least 80/20, which simply means there is 80% Chance of you wining any trade you place than losing it, to achieve this you my be a very patient trader, that I my trick.
Market Direction
Biedrs kopš   83 ieraksti
Jun 07, 2020 at 05:40
You will never gain experience if you do nothing.
forex_trader_745947
Biedrs kopš   57 ieraksti
Jun 08, 2020 at 19:19
Dorigda posted:
You will never gain experience if you do nothing.

Well, Not to trade is better than losing money ;)
Biedrs kopš   17 ieraksti
Jun 13, 2020 at 02:01
TraderProHungary posted:
Experience comes and counts by the number of years you have been trading successful, You master the act of making profits as against losing, Eg Your risk to reward ration should always be at least 80/20, which simply means there is 80% Chance of you wining any trade you place than losing it, to achieve this you my be a very patient trader, that I my trick.

Great explanation!

We are Risk managers not ( Traders) once you understand this you will see the markets in a different way altogether.

It took me years of losing to grasp this mind-set but once I did it opened a whole new ball-game that I can control.
 
Insta-@Greenbandits #TradeLikeaBandit
PROFITINGSYSTEMS
forex_trader_1579982
Biedrs kopš   48 ieraksti
Jun 14, 2020 at 13:30
What ever you do in this World, You gain Experience from how long you have been doing that Successfully, Same thing applies to Trading, no matter what just make sure you are earning profits steadily, month in, month out and continue this process over 1 year and you are experienced already, do it over 5 years, you are Proffesional, I'm happy for myself with this.
Biedrs kopš   3 ieraksti
Jun 16, 2020 at 14:07
Experience comes from deliberate practice.
The way is to avoid what is strong and to strike at what is weak.
Biedrs kopš   57 ieraksti
Jul 08, 2020 at 05:37
Experience is the kind of thing that comes with time.
Biedrs kopš   49 ieraksti
Jul 26, 2020 at 01:58
I'd say the hardest part about gaining experience is admitting your mistakes and getting over them. Patience is another big one. So is self-confidence. Think of how many people are dependent on forex signals instead of their own craft, or how many rush to charts on Sunday evening.
The results of experience are reflected in your track record. Maybe you haven't blown your account in 2 days, maybe you're losing money at a slower rate, maybe you're breakeven after a month now.
Biedrs kopš   128 ieraksti
Jul 27, 2020 at 02:44
Indeed, experience and it is not only the time spent trading, but also how you deal with your failures.
Biedrs kopš   55 ieraksti
Aug 03, 2020 at 07:09
One can gain Experience only after regular trading and practice.
forex_trader_1712030
Biedrs kopš   8 ieraksti
Aug 04, 2020 at 17:27 (labots Aug 04, 2020 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.
forex_trader_745947
Biedrs kopš   57 ieraksti
Aug 05, 2020 at 18:01
@decapped It's one of the most remarkable comment I've ever seen. You've just said of my mind.
Greetings
Pieslēgties / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Spams netiks pieļauts, un tā rezultātā var slēgt kontu.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.