Experience comes with either failures, losses, and also from your wins. When you acknowledge failures, you learn from them and when you win, you make conclusions. The more you trade, the more you become experienced. Some learn by listening, reading, testing, and watching but some learn from personal experiences and learn it from real money since the beginning.
I think you gain experience only when you learn to accept your mistakes and work to make better decisions. You need to set a risk reward ratio and follow a strong trading plan in order to maintain a certain amount of profit, either weekly, monthly or yearly.
As long as you put in effort and hard work, the path to achieving success doesn’t seem that far fetched, don’t you think? Time does play a huge role when it comes to gaining experience, but I believe that while time can be a teacher, it is upon you, if you really want to learn from past mistakes or continue to be stagnant.
It takes a lot of learning, practising, trading, profits, and losses to make you experienced. You will make mistakes while moving ahead but when you learn to take lessons from your mistakes, you take your first step towards becoming profitable.
experience comes due to the practicing. The more you will practice the more experience you can get. Without a doubt, experience comes with the mistakes, losses, fails in calculations and so on.
guess that it must be a primary goal for all the traders who are eager about receiving experience and money. they have to understand that only due to thorough analysis of the graphic, correct choice of trading instruments, wise approach to strategy building might help them get closer to their dream. I personally always practice on demo even despite the fact that I have been trading on real account for many years.
Well, to be successful in Forex you do need experience, which comes with practice and time, but you also need something even more important which is discipline. Without discipline you will never make it in any financial market, not only in Forex. I can have a trader with no or little experience follow a trading system with discipline and he or she can be successful. But you can have an experience trader do all kinds of things without following a plan and be a failure.
Experience is gained over time, as we learn and make mistakes. I've been at it for almost 3 years and still have a ton to learn. Traders should never stop acquiring knowledge and there are always going to be events and learning opportunities throughout our careers.
Experience comes from the time you spend in the forex market. You may be making anything out of profits and losses. If you are updating your knowledge and strategy, you have every chance of becoming a profitable trader.
Experience comes with time and practice. Experience is not something that comes overnight. For that, you need to understand the functionality and technicality of the market thoroughly. Also, demo trading plays an important role for new traders to improve their trading skills.
Experience is always measured with the time we spent on doing something. So, when a trader has survived in the forex market for many years they will be considered as experienced. But I think it is also about how much we learned and progressed over these years. You are expected to become more knowledgeable and skilled as you gain experience in the market. So, we must keep working towards it all the time.
I think we can call someone experienced only when they learn something valuable by being in the forex market as a trader. This can be an added piece of knowledge or an advanced skill that is not found in beginners. Like OP said, it is not really about how much time one has spent in the market but more about how much they were able to grow as a trader in this time
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.
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