Forex Success: Don’t Learn More, Trade More
Many people who want to become successful Forex traders are making a huge mistake. It is easy to understand why they make this mistake because it is counter-intuitive. The truth is, learning everything about Forex and trading is not the way to become a good trader.
What most people need to do is to stop learning more systems, techniques and methods, and start practicing and gaining real experience.You think if you know more, you’ll automatically perform better, but that is not necessarily the case. At some point, the knowledge you have starts to work against you.
You start to add so much to your trading system that it becomes over-complicated and cannot be traded. Or, you get so much conflicting information that you never have the confidence to place a trade. In either case, your trading is not getting better and your account is not getting bigger.
There are so many ways to trade Forex, your education could last a lifetime. But the good news is, you don’t need to know everything about Forex to succeed, and you shouldn’t even try. If you learn a simple trading system, and gain the necessary experience to master the system, you’ll be much more successful than learning every concept about Forex and trading in general.
The only way to become a better trader is to TRADE more. And learning to trade is not trading. Real experience comes from learning a system and placing trades in live market. This way you can learn things about the trading system itself, you as a trader and the Forex market in general that you could never learn from a book, a video or watching other traders trade.
Trading is skilled based. And like anything else that requires skill, you need to practice. The simple act of learning does not help you improve your skills so you can trade better and more profitably. If I wanted to teach you how to shoot a basketball, I would spend only about 5 minutes going over the technique of shooting. Then you would spend the rest of the time practicing.
That is the only way to develop the skills necessary to make baskets. Becoming a better Forex trader happens the exact same way. Learning the system from a book, video or mentor is the easy part and takes a relatively short time. But the process of applying what you learn needs to take place by placing trades in live market conditions. This is the only way you are going to master the trading system and gain the experience you need to trade the system and make real money.