Does trading require experience?

Discussion in 'Newbie Questions' started by Ese11, Aug 12, 2015.

  1. Ese11

    Ese11 Trader

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    Hello everyone, Just started trading and curious to know if trading requires experience? If so how can newbies like me gain that experience;)
     
  2. Enivid

    Enivid Administrator Staff Member

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    Profitable trading requires experience. You gain it by trading - either on demo account or on a small live account.
     
  3. Bosschick

    Bosschick Newbie

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    You can gain experience by learning more about forex trading and open a demo account which is meant for practice. So whenever you learn something new, you can use the demo to practice and gradually you can gain the experience before you start trading with a real account. All the best!
     
  4. Richard Johnson

    Richard Johnson Trader

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    With a forex demo account, you can see how the market reacts to economic forces including news events without actually risking your investment capital. However, you must treat this account seriously if you expect to learn from the experience. If you simply shrug off a loss without understanding why the loss occurred, then you are wasting your time and setting yourself up for disappointment.
     
  5. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    Of course, success of forex is directly proportional to the experience. How to achieve it? Trade, trade, trade,
     
  6. Like every other thing, if you want to do it professionally you should learn and gain experience. Read, ask questions, and practice on a demo account. Good luck!
     
  7. olivine

    olivine Trader

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    I am a big fan of demo accounts they are good source of getting experience . Demo accounts are free training for traders. They know market movement , use of indicators and make them skilled in making analysis. They get practice of trading which is the first step of experience.
     
  8. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    Experience is very easy to obtain. It is necessary to trade, trade and trade. And then over time you will become an experienced and rich trader
     
  9. davidblack

    davidblack Trader

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    Yes experience is very necessary if want to be a good trader. How can you get it. Trade more and more.
     
  10. ApipFx

    ApipFx Trader

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    Of course it requires experience. To train your trading skill, you should try to trade in demo account. Learn every single detail about the platform itself, learn every definitions of Forex itself and try several methods of analysis then pick the one that suits you.
     
  11. radex78

    radex78 Active Trader

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    Yes of course forex trading required experience, and also knowledge, if stil newbie very advisable to learn basic education, many source we get knowledge about basic forex, babypips dot com is one popular for learn basic to advanced with easy to understand, and practice in demo account wil giving valuable lesson also, learn certain system trading then implemented in demo account and test skill in real market condition use virtual money.
     
  12. As with anything in life.. Experience makes us better at it and practice makes perfect.
     
  13. radex78

    radex78 Active Trader

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    Yes right with experience should make more better, but also will depending how we are can learn from our experience, because not all trader although they are already have long years experience but skill still not differ much and forex still remain risky
     
  14. RaviSarao

    RaviSarao Trader

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    No, experience is absolutely not necessary if you want to start trading in forex market. What you require is patience and a lot of practice on the demo account.
    Once you practice and check for the calculations of the forex markets, you get to know the secret of real time profits. Also, it is very important to check and test the services of your broker for better execution and good profits.

    Time is value in the forex markets. Fractions of second can mean profits for a novice as well!!
     
  15. radex78

    radex78 Active Trader

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    Forex trading real is not only about theory, but practice in real condition, although any people they have good mental and patience, but if they never take action and will never get experience, like as the tree without fruity and experience in my opnion still very important, because we will never know if never try.
     
  16. MarkTrader

    MarkTrader Trader

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    Hello, I'm not experienced in the trading world as well, but I would never try to invest money to something that I know only a little bit of. I learned the basics through several tutorials online and I practice!! You should really spend a lot of time training until you are confident enough to start trading with real money.
     
  17. Al-Benino

    Al-Benino Trader

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    Hi everyone.
    I see a lot people suggesting that the best way to gain experience is to "trade, trade, trade". However, in my opinion, even though they are completely right, you will not make the best of your time by just trading. I have just gotten into the Forex Market for two years now, and I can tell you the way I started was to read books such as: ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street - By Raghee Horner.
    As you read, learn, and build your knowledge on the Forex Market, you can start making small time investments and try out what you read. This way you are not only reading, but also APPLYING, which is the BEST way to learn about ANYTHING. I can give more suggestions of good sources of information to learn from that are unknown to the majority of the public just give me a shout!
    Hope this helps.
     
    Ally, myfxpt and Enivid like this.
  18. myfxpt

    myfxpt Master Trader

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    I agree with this. It's a no-brainer, really. Practice what you learn to learn more!
     
  19. RichardTrade

    RichardTrade Trader

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    With practice we develop our skills and experience so will be able to achieve our goals.Practical knowledge is the effective knowledge for any success.
     
  20. Twin butterfly

    Twin butterfly Active Trader

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    Yes, Trading requires experience on Demo account. Without it, you can not start it on live account.
     

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