🤠 Is really more than 10 years of trading experience required for trading in Forex?
Is really more than 10 years of trading experience required for trading in Forex? 🤠
Experience is not available in any shop. which you can buy easily by spending some money. You can only earn the "Experience" by spending Effort and Time.
Always value that person who is senior in the field. here I am giving the value of the Degrees or Certifications. I want to discuss only the value of Experience which is earned by doing mistakes and losses.
Because Knowledge without Hands-on practice is only "Infomation" and You can not trade with information.
Now come to the point of Trading experience required Forex Market.
Trading is a skill. If you know only 1 Trading Strategy for example:-
- Based on Moving Averages
- Based on MACD + RSI + Bollinger Bands
- Based on Parabolic SAR + MACD
- Based on Average True Range
- Snake Trading Strategy
- Deep Dip Trading Strategy
- Quarter's Trading Strategy
- Elliott Wave Trading Strategy
- Pivot Point Strategy
- Price Action Strategy, etc.
And you master any trading style and making a regular profit. there is no bar of Time duration. It may be possible your experience is 01 year or 10 years. which does not matter.
Because, using same Trading Style, If Trader A is trading for 10 years and A is doing trading only 01 Hours a Day. on the other hand, Trader B is trading 10 Hours a day. (here my meaning of trading is touching with the market, reading charts, etc. I do not want to tell you to trade "Buy-Sell" for 10 Hours.)
It may be possible that Trader B can also easily predict the price change as the Experience Trader A. because he is practicing 10 Times more.
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Trading Experience in terms of Time is important but It is also important How much time you are giving to your profitable Trading Strategy.
Because As I know, If you master only one Currency or Metal. there is no requirement for looking for others. Master 01 Strategy with your Favorite currency and spend more and more time on studying behavior f your favorite currency.