knowledge and skills

[Ara]

What are some practical steps or habits that successful traders employ to ensure they are continually improving their knowledge and skills?

 

[CallahanSinclair]

Hello Ara,
It is important to stay updated with market dynamics, and I suggest that you continue to learn, and review your trades to understand what went right or wrong and how they can be improved, maintain a trading journal, and continuously review and improve your risk management strategies.

 

[TroyP]

What are some practical steps or habits that successful traders employ to ensure they are continually improving their knowledge and skills?

Risk management is a big one. You can learn from books, online, educational platforms
I started trading when i joined ellev8, it helped me with everything i need to know
I am happy to send more information if you're interested anyway lol

Goodluck on your journey and keep emotions out of trading is key also, minset. I don't trade at all if i wake up in a off mood etc, you never want to take that into your trading. Some of the best advice i got lol

 

[Ara]

Hello Ara,
It is important to stay updated with market dynamics, and I suggest that you continue to learn, and review your trades to understand what went right or wrong and how they can be improved, maintain a trading journal, and continuously review and improve your risk management strategies.

I wholeheartedly agree that staying updated on market dynamics and conducting post-trade analyses are pivotal for refining our trading strategies.

 

[ella1H]

All successful traders share the same quality: a strong thirst for knowledge. Because of this, learning should be viewed as a lifelong endeavour if you want to make a living through trading. You can do it by using tools like trade books, blogs, and webinars.

Since it is one of the biggest markets in the world, the foreign exchange market is extremely volatile. As a result, maintaining an advantage in the currency market necessitates ongoing modification.

 

[CallahanSinclair]

I wholeheartedly agree that staying updated on market dynamics and conducting post-trade analyses are pivotal for refining our trading strategies.

And dear friend try to engage yourself with other traders by joining trading communities or forums to gain insights from peers and experienced traders.

 

[Nwalkid44]

Hello Ara,
It is important to stay updated with market dynamics, and I suggest that you continue to learn, and review your trades to understand what went right or wrong and how they can be improved, maintain a trading journal, and continuously review and improve your risk management strategies.

How long does it take? I just started recently too.

 

[CallahanSinclair]

How long does it take? I just started recently too.

Becoming skilled in trading and understanding market dynamics varies for each person, often taking several months to a few years. I think you need at least two years. How fast you learn depends on how much you practice, your experience, and how quickly you can adjust to new market situations. keeping a trading journal and regularly checking that can help you learn faster.