Forex Experience won't really makes you a successful trader

[Sotherefore]

There is a saying that '' experience is the best teacher " but this is not likely to be in all areas of life and one of the areas of life in which experience is not the best teacher is forex trading , I have my reasons which I am going to break it down as below.

1) THERE ARE ENDLESS WAYS TO LOSE IN FOREX:
Yes , when you do not really understand how to predict the market based on certain indications and strategy you are likely to make an endless mistakes and all these mistakes will takes away your capital , spending time to learn and really understand everything about trading or volatile market will save you of all the stress of you gaining experience and losing all your money during the process.

2) WITHOUT A PROFESSIONAL KNOWLEDGE YOU ARE STILL LIKELY TO REPEAT THE SAME MISTAKES BECAUSE YOU WANT TO KNOW HOW TO STOP IT.

A novice forex trader will still be able to make the same mistake over time because they do not have the required knowledge and strategy on how to handle all these mistakes, everything about forex trading and trading of volatile market generally is something that you have to be professional before you can even think of making money with them,

In every challenge is you are experiencing in the volatile market you will need the help of an expert on how to handle them wisely and without this knowledge the possibility of repeating the same mistake is still very high.

 

[sincerem]

Forex, cryptocurrency, stock exchange trading aren't for novices to enter just like that. It isn't like a Ponzi scheme where you expect your money to come by chance without being knowledgeable where your funds is going, and what it is utilized for. In forex trading, you simply have yo put more focus first before thinking about to learn it. Those who rushed into it simply thinking that, it is easy to make money from it all fees out and regretting their actions. And saying, had I know, I wouldn't have rushed in and invested blindly. When you invest blindly via forex, the system will simply liquidated you blindly as well too.

 

[eldavis]

When it comes to froex trading, experience still plays it's role. Yes the learning process in forex trading is endless, as there is always something to learn from the market. But you cannot compare a beginner in forex trading with someone who has been trading for two years or even a single year. what's the difference between both persons? Their experience.
Experience does not stop you from making losses, that's a given fact but it would reduce the level of losses.

 

[Chlamys]

That’s not the case! When it comes to becoming successful at trading, a lot of things play essential roles. With knowledge, you would know what to do in the market, and with experience; you know what not to do in the market.

 

[Zonked]

Your knowledge along with your experience makes you a successful trader. Experience of several lost trades makes you learn the downsides of forex and helps you avoid the same mistakes in the future. Without knowledge, you can’t do anything.

 

[Kingsley]

There is hardly anything in life that experience will not always give an added advantage, experience does not come by just attending a school or a training program but rather it comes practically as you are working on any particular subject area. If you work without having some sought of experience on what ever you are doing you will be bound to commit some level of mistakes. Experience helps us to acquiremore insight on the choosen course of study. Just like in driving for instance when you want it know how to drive and you decide to attend a driving school for the training. It is most likely you will be educated with the right tools on how to drive, but that will not automatically make you a sound and professional driver. But rather it will only furnish you with the right level of understanding of what driving entails, you will only become a good driver when you hit the roads and make you few mistakes and learn from it and then you begin to gather the experiences you need to become a professional driver.

So also is trading crypto currencies, you can do it with basic knowledge and become a professional unless you become experienced over the years. So experience is still key to be successful.

 

[Ivo Zetticci]

Trading style, good strategy, good broker and patience make a trader successful. Different traders have different choices and preferences over strategies. For example, I always rely on moving average and RSI for predicting the price. FXOpulence broker allows traders with more than 400 technical tools and allows EA traders.