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  1. #1
    Rookie Member

    Which one is needed first in Forex - Education or Experience? !!!

    Experience is always needed for anyone to make a good treader but at first you have to learn about forex. So you need the basic education about this.
    Please share your views.

  2. #2
    Specialist Member marvel's Avatar
    Quote Originally Posted by andraxania View Post
    Experience is always needed for anyone to make a good treader but at first you have to learn about forex. So you need the basic education about this.
    Please share your views.
    Trading is not that simple as it looks at the beginning. It involves a lot of skills and predictive abilities, also good understanding of the statistical nature of your trading edge. Yes, it needs to learn all the basic stuff from forex trading, but it is not necessary to become an expert in forex in order to trade binary options. You must be an expert of binary options itself to be successful.

  3. #3
    Legendry Member willyw's Avatar
    Quote Originally Posted by andraxania View Post
    Experience is always needed for anyone to make a good treader but at first you have to learn about forex. So you need the basic education about this.
    Please share your views.
    With no basic education there aren't any experience. Once you have the basic education then you gradually gain experience. Experience cannot be learned or taught, its got to be gained from practical accumulated over time.

  4. #4
    Legendry Member Michael Hodges's Avatar
    that's like asking which came first, the chicken or the egg? your binary options trading experience will begin (or can begin) with education. As you learn you get experience, as you trade you get experience and as you use your practice account you gain experience.

  5. #5
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Michael Hodges View Post
    that's like asking which came first, the chicken or the egg? your binary options trading experience will begin (or can begin) with education. As you learn you get experience, as you trade you get experience and as you use your practice account you gain experience.
    . Very true.

    Quote Originally Posted by andraxania View Post
    Experience is always needed for anyone to make a good treader but at first you have to learn about forex. So you need the basic education about this.
    Please share your views.
    Your question is really invalid. I am assuming that experience means "practical experience" and not the experience u gain by studying.

    I can answer it if you can answer my question? Is it possible to implement "just education" in trading? or is it possible to implement "just experience" in trading? You cannot gain practical experience without education so how can it be implemented.

    As michael, said u need both and u will get both once u start learning trading.

  6. #6
    Specialist Member runneroption's Avatar
    Quote Originally Posted by M.J View Post
    As michael, said u need both and u will get both once u start learning trading.
    Very true! I could emphasize also that you need to learn and practice at the same time. Both practical experience and deep understanding of the market nature and forces is necessary before you put your money at risk.

  7. #7
    Rookie Member
    Yeah To learn the lingo, I would recommend starting out on some educational sites.. As far as robots, the robot will give a signal when to place a trade, but you have to open an account with a broker to actually place that trade.
    Last edited by jaheen100; 01-09-2014 at 04:24 AM.

  8. #8
    Specialist Member RCox's Avatar
    Quote Originally Posted by andraxania View Post
    Experience is always needed for anyone to make a good treader but at first you have to learn about forex. So you need the basic education about this.
    Please share your views.
    Fair question, I suppose. But the problem with trying to get experience first is that you are going to wind up losing a lot of money in the processes. This is not really necessary if you take your time and do not try to become the next Donald Trump overnight. Actual trading does give you a lot of education but you must inform yourself of the basics before you get started trading.

  9. #9
    Veteran Member hchandra's Avatar
    Quote Originally Posted by andraxania View Post
    Experience is always needed for anyone to make a good treader but at first you have to learn about forex. So you need the basic education about this.
    Please share your views.
    This question might probably show too much thinking, well that is from my personal perspective,
    Its like asking which one is better, person who go to university or someone who have no education

    IMO both of them important, you can get knowledge and learning other people experience through school or formal education institution
    While its not enough to rely on this knowledge because there is knowledge learnt through "street walking", what was taught might already change when we experience it first hand
    You can get experience through facing directly the object you want to learn as long as you stay alive after facing it and also gain knowledge why what you learn through education is not enough.

    Whether education or experience important
    Contrasted in war, green soldiers still green until they face their actual combat.
    Other example, Bill Gates dropped out from "knowledge store" still better than most who buying knowledge through the "Store"

    Luckily, as a trader our war only happen in the virtual world, no life involved, when we lose only our account killed.
    Again, the objective to learn before actual trading is to give advantage, success will come to everyone who survive and adjust to market/war place.
    CMIIW
    Last edited by hchandra; 01-11-2014 at 04:03 AM.

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