Learning from our mistake is better way to improve trading skill, and experience trading in real account with demo account is different, trading on real account will giving better experience to develop psychology trading and demo account is good to test any system trading and strategy.
Have you learned from your mistakes?
- Thread starter Rambo35
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As a Forex trader we tend to make some or the other mistakes in our trades. Now what becomes more important to us is that we should be able to learn from them and also try to improve so that we become better traders one day
Sometime indeed we make mistake in trading, maybe almost mistake that causing loss is trader making bad analysis and also rush in decision making, learn from ur mistake will improve trading skill if we can keep with discipline to obey rules and avopid same mistake repeated again, might not easy but we need to learn to do if we want get improvement skill.As a Forex trader we tend to make some or the other mistakes in our trades. Now what becomes more important to us is that we should be able to learn from them and also try to improve so that we become better traders one day
Learning from your own mistakes is a way to improve yourself, but do you think is possible to learn from the mistakes of others?
Yes but actualy we also can learn from any other experience, if likely these trader get fail and said because greedy, hence actually we also can take lesson from them, but indeed with learn from our own mistake hence will making us get betterment trading skill if we can keep discipline.
I think is very good if we can learn from our mistake, and to overcome same mistake repeated again as trader they should recognized heir own mistake so they will always carefully before making new decision whether they will repetaed same misake or not, created rules trading to avoid same mistake also good way to minimize such mistake repetaed again.
Yes in my trading career , i always learn a lot of things from my mistakes. Although initially i lost my money too. sometimes i decided to leave the trading. my mother scold me for this too. but still i am in trading . i think without taking any risk you can't be on the top. life is too short for cry and worries.
I would like to say that doing mistakes in our trading is actually a good thing as that will let us learn about which trades are good for us and how we are going to benefit from them
I agree with you, mistakes are a good learning tool. It is just better if we be as much careful as we can and not make huge mistakesI would like to say that doing mistakes in our trading is actually a good thing as that will let us learn about which trades are good for us and how we are going to benefit from them
I see what you mean, it is true that sometimes you don't learn something until you make the mistake yourself
We will be doing many types of mistakes as a traders and we have to know about trades that are profitable to us and the trades that will not give us income at all
Yeah! Mistakes are part of learing, but i guess it takes lot more time to learn from mistakes than what we usually think. In the earlier threads, i see some people asking how can we know if we have recoverd from our mistakes or not. i would like to suggest that please to connect thier account with some sites that show your performance and trading strategy. like myfxbook or you can make your signal in mql5. if drawdown is increasing, it seems you are not learning much but committing more of mistakes.
I hope this helps you!
I hope this helps you!
just to anser the question, 6 years trading forex and thinking did i learn from my mistakes, YES i did, but not all of them, there is no avoiding committing mistakes, and one way or another, if traded with a stressed mind one can always get carried away with emotions LOL, but we struggle to make up for it, some basic mistakes one should avoid is learning to let go of loses, thats really really hard to do, the more traders try to make up for loses the more they get deeper in the process, i blown a couple of accounts doing so, now what i do is take it easy, a couple of trades on gold a week on my hotforex account and just let it roll.
Yes, smetime in analysis we still making mistake that causing loss it's beacuse not always we can making accurate analysis all the time, here as trader they use technical analysis approach and also fundamental anlaysis approach only want to making good prediction to the market, but sometime loss till inevitable here.
There is no doubt learning by self is the best way to go as whatever even if its little we learn is perfect. Sp learning from our mistakes totally beneficial for us.
error is normal for traders. make mistakes we know about it the better. so do not always look bad every mistake we can. but download the positive side. and we can trade better afterwards.
I think that trading on forex is the only sphere of life where your own mistakes are best teachers) I always knew that we should learn on people's mistakes, but in trading it's really the most effective way to learn
