This habit will develop a feel for the markets and trading becomes and art. That's very right! Practice Practice Practice makes perfect, even better if you practice with a low budgeted real-account at trade with low lotsizes. This will definately improve your trading in a long run.

I agree that forex trading needs practice. You cannot become a good trader just by reading forex guru books. The practice is the only thing which can increase your knowledge and skill.

Skilling is combination of two things. Practical + Theory. So both are equally important. With practice you can become familiar with the market but you cannot be a pro unless you know how different indicators work. You must have knowledge of different charting techniques and etc. So in the process of "skilling", dont forget the theoratical part because it will explain the problems and issues that you face during practical trading.

In forex trading, no doubt, Practice can make you an intermediate trader even if you dont know theory part. But to be a good trader or a pro, you need to know many things.

Originally posted by Sasha

Skilling is combination of two things. Practical + Theory. So both are equally important. With practice you can become familiar with the market but you cannot be a pro unless you know how different indicators work. You must have knowledge of different charting techniques and etc. So in the process of "skilling", dont forget the theoratical part because it will explain the problems and issues that you face during practical trading.

In forex trading, no doubt, Practice can make you an intermediate trader even if you dont know theory part. But to be a good trader or a pro, you need to know many things.

I am not denying the importance of theoratical knowledge. My point is that most newbies try to learn forex by reading "guru-books" which are just useless if they rely on them.

Originally posted by Sasha

Skilling is combination of two things. Practical + Theory. So both are equally important. With practice you can become familiar with the market but you cannot be a pro unless you know how different indicators work. You must have knowledge of different charting techniques and etc. So in the process of "skilling", dont forget the theoratical part because it will explain the problems and issues that you face during practical trading.

In forex trading, no doubt, Practice can make you an intermediate trader even if you dont know theory part. But to be a good trader or a pro, you need to know many things.

When you will start training yourself practically. You will automatically learn theoratical aspects. Because there are many sites and forums which teach you forex. So whenever you will face something difficult during your learning process, you will consult google. There is no need for giving a separate time to read books and etc about forex. Maybe at some point later, when you have developed your own successful strategy, you try to learn extra from these books and articles. So forex theoratical part is not of beginners, its just when you need some extra knowledge. Initially you only need practice and a little bit of technical information that you can find through google.

I agree. In the beggining we should read a lot of ebooks and go for forums to learn from those who have more experience, but only till a point. I have also experienced the same, in the beggining I read a lot of articles and went for webinars, but after a time it just became useless because I got my own strategy and I was trading it fulltime.

I am telling till the point we have the strategy, we have to read as lot as we can but then concenrate on trading only!

O Man, this is becoming complex and complex and comlexxxxxx. Keep it simple stupid. The original thread was about the skilling process in forex. But it went to theoratical and practical part. It is correct that both parts are important. But why so much emphasis on the ratio of both parts and involvement of both parts in the skilling process.

The bottom line is "Practice makes you perfect".

KEEPING IT SIMPLE STUPID IS THE KEY !

Originally posted by Richde

KEEPING IT SIMPLE STUPID IS THE KEY ! " />

On another forum I was reading a post from very experienced trader. He was also talking about this "simplicity" thing. He said that after around 6 years of trading, he is fed up with EAs and different complex and "good-looking" strategies. In the end, he has adopted price action method

Originally posted by uniquetrader

Whether you r playing a strategy game or doing forex trading, you need skills to do it. Because both of these things require practice. In forex trading, you need to develop your skills and these skills will later become your habit. This habit will develop a feel for the markets and trading becomes and art. Just by reading books and studying you cannot increase your skill level.

So develop your skills by practicing as much as you can. These skills will help you become a better trader.

 

i agree with you, skill is needed to make predict, analysis and make fast decision for open position or order and with skills we will now what's going out there..