Experience or Education?

[jim.max]

I guess both without education you can't enter the trade and gain experience.There are several terms in forex and you need to know them first before you start trading.

 

[willforex]

I guess both without education you can't enter the trade and gain experience.There are several terms in forex and you need to know them first before you start trading.

Those terms are ??

 

[Whitesnake]

Experience and education both are very much important for the traders so that they can plan for good trades and win in the forex market.

 

[Pharaoh]

Those terms are ??

Knowing that long means buy and short means sell would help.

Also, not exactly a word, but a concept that's unique to currency trading - Long XXXUSD = Short USDXXX. Imagine a new person hearing that he should go long on the USD buying XXXUSD pairs.

So, I'll agree - some basic understanding of terminology is needed to avert disastrous newbie mistakes.

 

[Michel123]

well it’s often goes like experience - fail - learning - experience -fail - more learning - experience - succs...fail - lots of learning...experience...a small success...etc

 

[willforex]

Knowing that long means buy and short means sell would help.

Also, not exactly a word, but a concept that's unique to currency trading - Long XXXUSD = Short USDXXX. Imagine a new person hearing that he should go long on the USD buying XXXUSD pairs.

So, I'll agree - some basic understanding of terminology is needed to avert disastrous newbie mistakes.

Agree on this one mate.

 

[hiprobabilitly]

Education is important but won't make you successful. It's all about the experience in my eyes, which in a way is education. And its the only way you can learn to control your emotions.

 

[itkraze]

Through proper education we can survive in Forex because Forex market is so risky and we have to trade with proper plans and strategies to be successful in Forex trading.

 

[Everwhise]

I'll take this discussion a step further. How much experience will it take to become proficient, assuming I educate myself as best I can?

 

[itkraze]

I'll take this discussion a step further. How much experience will it take to become proficient, assuming I educate myself as best I can?

It depends on you if you learn properly and improves your trading skills unless you see the positive results. Experience of over 1 year of proper trading will help the trader to maximize the profit.