Learn from experience more - page 4.

AprilioMP

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Quote from: betswift on October 25, 2024, 02:31:40 AM

Quote from: AprilioMP on October 25, 2024, 02:15:00 AM

Not all writers of books, articles about trading tips are successful traders based on the experiences they have had. They could have written because of other sources to be used as an article and not because of trading experience.
You are right that the trading experience itself that is done consistently is a very valuable lesson.

Reading articles or writings that someone can get a lot of money because of the trading they do can hypnotize our minds and give rise to a high sense of confidence that we can get money in the same amount as them. This is the beginning of a trap that will determine two outcomes, safe or lost.

It can help to learn something from others, however, the main teacher of a trader is the market itself and his own experiences of it.
Sure, sources can provide different theories and info, but in the end, you utilize it in your own way.

Not wrong in my opinion. Other parties can help traders to find out how to trade, but do not always depend on other parties. Just know the basics after that, make the market as the main object to control themselves of what will be done next while remembering that it will not always be in a profitable position. Even professional traders also experience loss.

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

By book I guess you mean from articles, reading tutorials and watching videos? Yep, you can never actually learn trading from those contents. If you do really want to learn trading, you need to start trading with whatever knowledge you have. You will make lots of mistakes, but if you learn from those mistakes, you will get better and eventually learn how to trade properly. Think of those losses made due to the mistakes as a form of payment to get better. The more experience you gain, the better you get. Use the tutorials and articles only to get familiar with the trading concept.

Miles2006

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

If you’re simply against learning about trade from articles why not focus on different learning platform or streamers. There’s no best way learning without encountering lose and what’s more important is winning at last, it’s fine if a newbie try to view trading as something simple but, it’s better they know about trading first including the lose involved before gaining much confidence. Surprising after a lose some might decide to quit, all this are part of experience mostly a newbie reaction concerning the market movement, just gain the knowledge first before feeling over confidence.

EL MOHA

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it's entirely possible to become a good trader without taking heavy losses at the start. Preparing thoroughly, using demo accounts, and studying well allow for learning without risking money. Confidence also comes from preparation, and a beginner doesn’t necessarily need costly mistakes to improve

While losses in trading is inevitable, heavy losses can be avoided with a proper risk management even if you’re a newbie as long as you have prior knowledge of it before going to trade and you strictly stick to the risk management without going against it, be cause it’s the reason why you see many newbies later ended up with heavy losses not that they don’t have proper risk management but sometimes the euphoria of winning trades back to back leads them to go beyond their risk management strategy. Also newbies can improve if they choose to get better but the reason why loses are what drives the tool is one is always because it is a lesson learned the hard way and without it as human we fail to leave our comfort zone and if a trader doesn’t actually looses then they believe their strategy is the best and they never try to improve move and that’s why many people regard loses as the best tool to driving the force for improvement

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.

How will you be confident about trading when you haven’t given it a trial before? Reading books is just the theoretical aspect of trading, and that doesn’t make you a trader if you haven’t given it a trial and seen how it is. If you are a beginner and you decided to trade for the first time after reading lots of books and you made money from your first trade, that doesn’t mean you already know everything about trading yet, getting it right in the first trade doesn’t mean you are a professional yet and you will always get it right. That’s why newbies are supposed to be careful always, and they shouldn’t be too confident in themselves.

Quote from: Sobz on October 24, 2024, 06:28:36 AM

which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

As a beginner in trading, if you decide to start trading with a large amount of money, then don’t be surprised that you will end up losing most of the money that you deposit to trade with. Most beginners, which I know do lose their first deposit, because they are in the learning process, and since they are still new, they are always scared, which is the reason most of them do lose. So when newbies start trading, then they should do it with a small amount of money.

alastantiger

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

How many traders still learn from books, people are now learning from YouTube, Tiktok and social media because that's where many people spend most of their time and they get to see alot of video on the subject of trading. Inspite of where we learn trading from, we should practice many times through demo accounts and also live accounts that have small capital to get live actions from the market as this will help us to become more aware of how the market moves and it'll also give us experience that we'll need to help us when we begin to be trading more frequently.

Learning from experience requires us to always practice our strategy and this will give us more knowledge as we get to see how the market is repeating patterns that it has had before. There's nothing new in the market, everything that's happening now has happened before and it will happen again in the future.

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

You are right when someone follows their inquisitive thoughts and try to go with their plan instead of following the knowledge he already gained by reading articles or videos and making mistakes, then it really build their confidence in them for future so they won't make the same mistake again but what if they would have trusted the source in the first place.

Then they would have saved themselves but I had this conversation few times with other members that going with the inquisitive thoughts is a good choice and following your plan not the articles and learning from experience is good but if we are reading the case study and learning from someone else's experience then we must follow it.

yudi09

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

In a learning position, trading after reading books or articles certainly cannot be considered bad either because in that way you can get experience. Basically, there is a difference between theory and practice, although not that far. If the theory is understood, a person's mind will think that when entering the practice stage it will feel easy. It turns out that when you have practiced, what is obtained in the book is different because it feels difficult. Of course I admit this because not all the knowledge gained from books is not all written by traders.

From practice will give us experience. Experience can lead us in a better direction.

Dewi Aries

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Yes and the real lesson is when someone is involved in the activity, but of course I also cannot assume that the articles or information from social media that you find are not important, and perhaps more precisely the books or articles that you read are useful to give you basic knowledge related to what trading really is and how the risks that can be caused by the activity when done in the wrong way, meaning that even though the real lesson is when someone goes directly into the market, of course I will also still advise beginners to first read the article so that they know and understand first about what trading is, because when someone knows and understands what they are facing, then various precautions and decisions made based on that consideration will be taken.

By reading, you will gain basic knowledge and by trying it directly, it will give you lessons on how to trade correctly and how to trade incorrectly, you will get that in the adaptation stage, but that will also only be possible when you are able to evaluate and learn from mistakes.

Finestream

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

Books are a good source of learning acquisition. However, in a field where skills and practical strategies are what makes a reliable trader, learning experience is still the best key to its success. You need positive experiences that will make you a trader who can easily think of any possible solution everytime the market becomes uncertain, and even negative experiences that will leave you lessons that are vital in trading to make you trade more successfully and profitably.

Hamza2424

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Quote from: betswift on October 25, 2024, 02:31:40 AM

It can help to learn something from others, however, the main teacher of a trader is the market itself and his own experiences of it.
Sure, sources can provide different theories and info, but in the end, you utilize it in your own way.

No doubt that the market is your best teacher, but you can say that this is a teacher with no emotions who doesn't care about their students haha theoretically, so make sure to find multiple mentors and sources of information that you can use this teacher to test your strategies.

In trading, you can copy someone's style but you cant copy his/her mindset and perspective and this is what matters in order to survive and be a shining star in this market. All you need is to train your subconscious mind with strict discipline.

Awaklara

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

experience cannot be gained before trying. although it is very possible that we can learn from other people's experiences, but I think it's the same as learning from books or videos that we can watch.
trying to trade more might be better for beginners,. because it certainly provides new knowledge and experience for beginners in direct trading that certainly cannot be felt through other learning processes.
but what is perhaps unfortunate is that not many beginners seriously understand how to take learning from their experiences. and at the beginning beginners usually experience the same problems in several trades.

betswift

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Quote from: AprilioMP on October 25, 2024, 02:15:00 AM

Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

Not all writers of books, articles about trading tips are successful traders based on the experiences they have had. They could have written because of other sources to be used as an article and not because of trading experience.
You are right that the trading experience itself that is done consistently is a very valuable lesson.

Reading articles or writings that someone can get a lot of money because of the trading they do can hypnotize our minds and give rise to a high sense of confidence that we can get money in the same amount as them. This is the beginning of a trap that will determine two outcomes, safe or lost.

It can help to learn something from others, however, the main teacher of a trader is the market itself and his own experiences of it.
Sure, sources can provide different theories and info, but in the end, you utilize it in your own way.

AprilioMP

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

Not all writers of books, articles about trading tips are successful traders based on the experiences they have had. They could have written because of other sources to be used as an article and not because of trading experience.
You are right that the trading experience itself that is done consistently is a very valuable lesson.

Reading articles or writings that someone can get a lot of money because of the trading they do can hypnotize our minds and give rise to a high sense of confidence that we can get money in the same amount as them. This is the beginning of a trap that will determine two outcomes, safe or lost.

passwordnow

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

I agree, experience is the best teacher. Learning from the books are just the beginning but technically, not all that we learn from trading books are going to be in the same pattern and situation that we are going to be in. That's why many of the beginners are also losing hope too early in trading because they're expecting differently that instead of incurring losses, they think that they're going to make a lot of money with their first glance. Trading doesn't work like that and it all comes with knowledge and experience so a combination of learning from the books, experience and even mentors will give a better chance but still, the path of your success in trading is going to depend on how adaptable you are and how you as a decision maker.

OcTradism

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

You need both for trading: knowledge and experience.

Without knowledge, you will more struggle with trading and rather than applying knowledge you got from learning, you will have to do trading, experience it and try to learn from your actual trading and possible loss or profit. Mostly you will have more loss than profit if you start trading without knowledge.

Without experience, knowledge is nearly useless because experience in a market, a long time will help you understand a more important thing than any technical indicator and analysis, the market psychology cycle.

Psychology cycle of a market affects all market participants and human basically are the same at crowd size, so if you can master psychology cycle of market, you will have better chance to be minority of winners in the market.

The Psychology of Market Cycles

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Experience is the best teacher as we often say. Although acquiring knowledge and insights should always be the foundation, but application in the end will determine the final outcome. Most especially in trading where everything is unpredictable and uncertain, but if you have gained significant experiences already, you will always have a real glimpse what will be the outcome from your trading performance.

Also, luck and timing should also have places in trading. If you think you don’t feel luck or positive vibes, and the timing isn’t right, don’t bother to start trading anyway and waste your funds.

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Quote from: BABY SHOES on October 24, 2024, 02:51:41 PM

It's definitely different to experience trading firsthand than reading about it in books or other articles... The theory may be the same but when practiced it will be different then the direct experience will be felt by traders and how they can distinguish with their own patterns.

Reading articles and books is good, there is nothing wrong with this, but it would be better if you experience the experience yourself, I am sure of the many traders who are professionals they learn from their own experiences to improve their abilities over time.

In essence, both are equally important in facing challenges in trading. However, knowing the theory first, aka mastering the knowledge by reading many books or articles first, is good for minimizing the risks that may occur. If you have to face a risk once, it can be overcome appropriately according to the known theory.

Direct practice is also needed because we can get direct experience but if we practice without knowing the knowledge it will also have fatal consequences in trading, it is better to know the theory or knowledge first before practicing so that we don't just practice which causes a number of risks. However, don't study the theory for too long until you don't practice it.

In conclusion, we must know the knowledge first before doing something, so that the trading we do is based on knowledge. Practice in trading is needed so that we are taught how to overcome failure, how it feels to fail, and how to deal with failure.

EL MOHA

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

Experience is the best teacher they say and that’s not a lie, one thing about theoretical learning is that you will be only learned on what’s on the article you read and should a certain situation changes then there is nothing more you can do but for someone who had a experienced such turn of event will definitely be aware of what next that particular situation will turn to.

In terms of trading the most important thing a trader needs to get aside the basic knowledge is the trading psychology. A trader without psychology easily falls to mistakes like when to opt out of trade, when to break even and sorts like that, personally I think this is definitely gained through experience and not basically learnt, so this essentially why experience actually adds to trading

Asiska02

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Quote from: Sobz on October 24, 2024, 06:28:36 AM

The lesson we learn from trading experience and articles we read are quite different, though the lesson from both are very important in trading but the mistakes of some beginners, they get much confidence in trading after learning only from books.
Experience gives the best lessons to traders, which beginners should never be in haste or be so confidence to trade with big amount of money by only gaining knowledge from reading books about trading.

Theory is different from practicals and only when you want to have the real experience through practicals you can see the clear difference in them. Theory will teach you a lot of things and make you feel like you’re perfect in something and otherwise have that very much confidence that the market will be in your favour because of the knowledge you’ve acquired about it. The real practical of the market is the best experience you can get, because those are the time you can get the best lessons that will give you the best result and experience you can ever want to trade the market. Knowledge is important but applying that knowledge in real time is more important.

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