Topic: Learn from experience more - page 4. (Read 1110 times)

Trade responsibly, that is, as the experienced trader should.
It may be hard not to fall to greed and fear, but it should be tried to be done with the money you are willing to spend on the sessions to come.

In every job, you learn better on the job. No matter how much you were taught in school, it's by practising that particular job or skill that you'll get better. Trading is s skill and just learning it won't be enough, you have to practice it. It's common knowledge.
That is why it's always advisable for newbie traders to start trading once they've learnt what is needed to learn about trading. Just don't trade as a pro, always know that you're still new to this and still learning.
Most people come out of the University with good results and think they're better than everyone else till they get to a play of work and see that they don't know half of what they need to excel at the job.

and do all of it self-taught without anyone's mentor, so that to achieve a goal of good trading knowledge it is necessary to do extra learning and real practice.
It is equally possible that one of the many people who do self-taught trading lessons, because I would not ask anyone else about how they apply trading.

I listened and learned everything until I knew more and more about how trading worked.
Until now, I have continued to learn to deepen my knowledge in crypto trading.
Experience is indeed a good teacher to start everything independently, and of course unlimited knowledge can be learned from anywhere.

True. Real learning comes only with real application from your acquired knowledge from reading books and watching tutorial videos. And with consistent application and experience, that’s when effective learning will develop. Most particularly with trading where everything comes with knowledge and skill application. If you fail on that, effective learning experience becomes failure as well.

But if he would use only the money he is willing to spend - it would be goo enough to start the journey to become a trader in the first place.
After all, theory is nothing without a bit of knowledge and eventually, practice.

Except you are a very genius newbie trader, you can win and get profit with your first experienced months in this market or longer in a first year. Other than that, you will get loss, like you actually had, because the market is volatile and it never moves up continuously. With market corrections, news, FUDs, newbie traders will have loss in this market.

Even senior traders have losses too so it's unrealistic for newbie traders to believe that they will get profit. This truth reminds newbie traders that they must manage their capital, includes trading capital that must be small part of their capital, very well. This good management of capital in general and trading capital in particular, will help newbies protecting their capital and avoiding loss of all capital after several months in this market.

If newbies start in a risky way like using all capital for trading, and losing it all after first couple of months, the journey will be very short and painful.

As a person who's involved into trading (although I lost), experience really is a big help to those traders because from there, they will make better decisions in the future based on what they've experienced.

This is the reason why most of the newbie traders out there are losing money. They don't have the experience that will help them in making better decisions. This is also the reason why we always say that newbies should not invest huge amounts of money when they're starting with trading because 99% of the time, they will be making losing trades. Back then when I was a newbie, it's good for me that I learned right before I started trading that there's a very high chance that I will be losing hence, I invested only a small amount, and I really lost my initial capital at that time (10$). Still, I continue losing money from trading, but I'm learning as I lose money.

Experience will go a long way when it comes to trading, but experience alone will not help you become a successful trader. Of course, you need more in order to succeed.

Without practical experience there's no much learning that can be done because you don't learn from reading but you learn from doing. Experience is what you need and you get that more when you practice as you have said. I agree to everything that you said and I want to also add that we shouldn't be afraid of trading with real money because when we do this is, is when we get the real experience. When trading with fake money, you don't consider it risky and you can make decisions that would make you big profits on the demo accounts.

But when you try the same thing on live account, you won't get better outcomes, that's because the demo and the live account aren't the same. Learn to trust yourself more when trading live account then thinking the success you received in your demo account is like live account.

Doesnt matter on what you are dealing into on which reading up or learning from those books or simply with theories on which you do able to obtain or read up is something that will really be significant into your overall career or whatever that you are dealing into because these could give out that kind of famiarlization on things or  terms on which this will really be that relevant in overall learning. When it comes on learning into other stuffs then this could really be obtained through real experience and this is no question about it. It is really that true that there are those peopel who are really that good when it comes to theory but ending up on messing up on the actual dealing or on the moment that they will really be doing it.

Experiencew ould really be the best teacher out there on which on the moment that you do really deal up with these things then those stuffs that you havent been able to learn or see in books or write ups
then this is where you would be able to obtain in real dealing. This is why it will really be that relevant that you can obtain more experience on the moment that you do engage into it. As you do go forward
then you are really that making yourself way more experienced and more knowledgeable on which you could enhance out your skills and really make this one out as your advantage.

There are things that are only good at theory and we can do nothing about them anymore but for things like trading, it is very possible. I bet a lot of people read theories about it because they are interested to jump on it later on and a few are just jumping on it quickly with nothing on their brains. This is very(2x) risky, as we know that the risk in trading is already high.

Yeah, maybe there are more things that we can discover in theory but there is still more than it if we now did an analysis and other essentials in trading. So we need to make sure that we or our brains are ready for it to be able to handle them all. There must be practices or exercises that we can do in order to enhance our thinking. Much better if we can also add them on the side.

Learning from experience is a key to accelerate us in learning because it will give us knowledge and skills directly into us, and understand the situation that is not and good to do at the moment, and if you really want to be much faster in learning then people's experiences Others must be additional learning to avoid mistakes that can eat money and time as you say, it is a wise decision.

But it is very unfortunate that people want to hear the success of others than what other people do in every mistake.

There should be a balance between theory and practical application, which are very different but work hand in hand if you know how to apply the right things. Identifying the right strategies for the type of market that there is a way to know what to do and the things you would do would be from the theoretical side. Applying the knowledge that you have is the practical side, and there will always be both of them. It’s hard to control, and they will always be both.

In my opinion, the most important aspect of trading is the emotional aspect. It’s hard to control yourself if you're really emotional.

After reading articles and trying to work on your own experienced will bring your the clear view of what you are reading, it's the best practice that will lead to succeed which you won't be able to understand without putting yourself in and trying to learn more about the process, it's very important that in each session that you take always learn from it.

From experienced, you'll grasp things up and it's your take if how you'll adjust for the betterment of the result.

Some beginners in trading must have doubts and concerns when they want to start. they only have little experience or even none at the beginning. what they rely on is definitely knowledge from reading and listening to other people's experiences. there's nothing wrong with that, but after starting their first few trades, beginners must get their own experience. and the best thing to do is for beginners to be able to study from their own trading experience. whether in profit or loss, there is a lesson that can be learned.

I'm not so sure, but maybe more beginners are interested in instant results. they follow signals in trading because of their impatience.

I do agree very much with you. Books , articles, and YouTube videos can only teach you so much. They are infact passive learning. They real learning comes when you get your hands dirty in the live trading. The demo trading is the same category with books and articles. The the live environment the market is dynamic and changes happen fast, and you need to act fast. It is the experience gotten from these different expected and unexpected scenarios that brings about learning.

I agree with you, learning from experience by reading articles will provide different learning and both are very important. But experience is a very valuable teacher in trading, it takes a long process to get it. By learning from experience we will be better able to overcome obstacles, analyze the market and be able to apply good emotional management.

By reading articles you will learn to understand various methods in trading, but with experience you will better understand market conditions that are always different so you can choose the right method, this will help us to make a profit and avoid the risk of fatal losses.

Detailed knowledge of trading can be obtained through reading books and the process of applying that knowledge can be started through activities. When a trader can apply his knowledge in real world it can be very useful for him but most of the time traders are more interested in getting profit than holding which results in risking their capital. I would say initially traders need to build up a holding through buying and later should opt for short term trading.

What you said is very true, of course we should not continue to rely on other parties in trading and it would be better after we understand the basics of trading well, then we can try directly while continuing to learn and it is also important for us to be able to use funds that we can afford if we fail in the trading we do. It is true that even professional traders have experienced losses but they can use the experience they have gained during trading to make a profit on another occasion.

Experience is the sum of the mistakes we have made. Reading books is cool and you might learn a lot from reading them but unless you do the actual thing, your education will not be complete. Sometimes people read a few books and they think they learned it but everybody has a different perception of reality so when different people read the same text they might understand it differently. Doing practices will correct these mistakes because if you are getting unwanted results no matter what you understood from the book you have read, you are obviously doing it wrong. “Practice till your skills become perfect” you will lose some money but no book can teach you better.

Learning from books, courses and other resource types is good start because it helps a newbie to gain knowledge about this market, trading principles. I agree with you that trading is practice and there is nothing more important than doing trading by yourself to get experience, apply your knowledge and learn from your tradings.

Trading is risky, and trading in a volatile market like cryptocurrency market with too much news effects is very risky, so make sure a newbie using very limited part of capital for trading. Reason to use small capital for trading, is you will possibly lose it but it will help you to learn and get experience. If a newbie start trading with all capital he has, sure he will bankrupt by trading.

My advice is simple, if you can be patient in this market, don't trade, but invest your capital in Bitcoin and hold it for profit.

Bitcoin ROIs with past years don't lie.
Hodl camp can help newbies to find more reasons to invest, than trading.