Does trading require experience?

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

  1. Jessica Brown

    Jessica Brown Trader

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    Hello everyone! I believe, that trading requires some experience for sure...But when you are training with demo acc - the emotions are not real... =)
     
  2. Twin butterfly

    Twin butterfly Active Trader

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    Right Jessica, But i think Trading requires experience and knowledge only. If one has nothing idea about trading and jump to live account then he is surely gonna have loss and blow his account. So it is better one start learning first and then get experience on Demo account.
     
    Jessica Brown likes this.
  3. myfxpt

    myfxpt Master Trader

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    As with everything in life, we ALL begin somewhere, as trainee's, and develop our skills over time. In my opinion a demo account serves the purpose of getting familiar with the trading platform, order types and placement, market dynamics, and testing what we learn. It can help with our emotions to some extent in terms of knowing the likely outcome of the strategy we have chosen to trade, and this goes a long way towards limiting trade entry fears when we begin live trading. If our strategy has produced a 75% win rate to date, then it is likely to produce a 75% win rate into the future, so we expect some losses along the way but overall we can expect to profit. But of course, we just don't know how we are going to react until there is real money on the line, and we are facing a real loss. Will we be tempted to move our stop-loss? Will we be tempted to close out early? Practice first, then learn to trade!
     
    Jessica Brown likes this.
  4. Twin butterfly

    Twin butterfly Active Trader

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    Trading is all about money management. Even if u get one pip a week u should make wealth. You need a system that wins most of the time and stick with it.
     
  5. kora_trader

    kora_trader Trader

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    well. it doesnt require experience, it's only about placing buy and sell orders
    but as you want not to lose money at first and then to earn profit and keep your profit stay safe.
    practice make you gain experience as time passing.
     
  6. f4forex

    f4forex Active Trader

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    Forex trading is a very professional market where we cannot simply place sell or buy order without knowing the market, it better to learn the trading tactics before jumping into it otherwise those who will simply start placing buy or sell will find out that they will be among the 90% who usually make losses in forex trading.
     
  7. Ally

    Ally Newbie

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    Trading does require a lot of learning, practice and hard work. You would need to have complete knowledge about the markets because you cannot make good amount of profits without it. Yes! Luck might work a few times for you but it will only make it worse because in beginning, you will think that it’s quite easy and you would take loans/limits to trade on.
    It’s just like you have no clue how to drive and you want to drive the world’s best car. So, take time and start building your skill with baby steps. Constant efforts and time can make you a successful trader!
     
  8. f4forex

    f4forex Active Trader

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    Luck may count a bit but the most of traders success depends on his experience, calculations and analysis. I believe that these are the necessary to learn if anyone wishes to take success in future.
     
  9. Alexfx79

    Alexfx79 Active Trader

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    I don't agree that it's just buying and selling with no strategy. If everyone on Forex traded with no system, it would become a total chaos.
    Like any other system Forex has it's laws and rules. Yes, the price can act irrationaly sometimes. Nevertheless, you can make forecasts, you can notice a trend, but it will be possible only with understanding of Forex basics. It's like playing a piano. First you learn notes, then you play music of different authors, then you are able to make your own beautiful music.
     
    Hafizmd likes this.
  10. Hafizmd

    Hafizmd Active Trader

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    Everyone needs experience.
    I advise you to find a mentor, cause it's always easier to make your way with the help of an experienced teacher, than to do everything by yourself. In this case your experience will be true to life and you will become a professional trader earlier.
     
  11. Robian

    Robian Active Trader

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    That's why I ask questions here. :) I think that experience can come only when you analyze the info by yourself and combine it with tips that professionals give you. After I have enough info, I can implement knowledge into practice.
     
  12. lenon

    lenon Master Trader

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    Ofcourse for quality trading on forex you need experience, and you can get it in various ways, go through training, read all kinds of literature and things like that, but the optimal choice in my opinion is when you combine trading (best if it's not on a demo, but atleast on a cent account, to minimise possible expenses), and at the same time attend webinars and secure your theoretical side of your skills.
     
  13. Gerrard Hank

    Gerrard Hank Trader

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    You cannot trade Forex successfully without having the required experience. The only true source of Forex knowledge will come from experience. That is why it is advised to start a trade using a Practice or a Demo account.
     

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  14. Ally

    Ally Newbie

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    Well, to become professional in trading, you would definitely require experience. This experience can be on Live or on Demo Account. The experience means practicing the trades in different market conditions which impacts the net profit & loss of your trading.
     
  15. Lukas Schmidt

    Lukas Schmidt Trader

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    Trading itself doesn't require experience, profitable trading however does. Make sure to as everyone has said practice on demo first.
     
  16. Hafizmd

    Hafizmd Active Trader

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    I'm not sure... Even simple trading requires experience, even minimum one. A person has to know at least how to open orders :D
     
  17. eyeball

    eyeball Master Trader

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    Trading forex only requires experience if you wish to make money at it, otherwise no experience is required.
     
  18. artfor

    artfor Trader

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    Everyone know that if anyone don't get proper learn about Forex then he/she can not get success in Forex. Knowledge is the key of success. If we learn forex we can earn a lot of money from this market. So we need to work very hard for this business.
     
  19. Andrew101

    Andrew101 Active Trader

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    Experience is definetely needed to trade forex. First of all, it's important that you understand that trading the Foreign Exchange market involves a high degree of risk, including the risk of losing money. Any investment in foreign exchange should involve only risk capital and you should never trade with money that you cannot afford to lose.
     
  20. archie

    archie Newbie

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    Yes, trading do requires experience and to gain experience you need to trade only. So, there is no other way out of trading to gain experience in trading. You can start by learning forex, understanding basics about trading and getting familiar with the forex terminology. After that you can go for demo trading, see how economic forces moves the actual market but make sure you learn from the losses in practice account. Even if in real account you suffer losses, don’t get disheartened do the analysis and learn from your mistakes. More and more trading can help you become an experienced trader.
     

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