Whitesnake
Corporal
- Messages
- 428
Its just like asking which eye is more important right or left Both experience and education is very much important for the traders to excel in the forex trading business.
Its just like asking which eye is more important right or left Both experience and education is very much important for the traders to excel in the forex trading business.
But shouldn't we combine it? Learn and apply, learn and apply and shrug off unprofitable/harmful knowledge?
I dont think you can shrug off "unprofitable knowledge" , cause if you have no experience, you will "shrug off" the wrong things.
For example , in the beginning i got constantly burned in Dollar Yen , so my resolve was to stay away from dollar yen.
the result was that i got burned elsewhere too.So slowly i picked up on CPI , Rates , Inflation targeting ,press releases etc...
Though , throughout my forex "life" , one thing has not changed:
The most dangerous trades might be placed after closing a profitable position.Also known as the..."god mode".
Education + Practice = Success
My winning formula in forex is
Education+experience+good trading system+ better mindset+risk management+discipline+patience = Success in Forex trading
Some factors are major factors.