Do you guys believe Trader have a fair chance, with the right education?
Oct 05 at 20:30
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9 Replies
forex_trader_3761963
Member Since Jul 02, 2024
2 posts
Oct 05 at 20:30
Curious what my fellow Myfxbook users think about this, I'm self-taught myself through some pretty painful trial and error. Sometimes I find myself thinking what my journey to profitability would have looked like if I had/could find a good resource to learn from, be it a book, mentor, videos, etc.
Probably wouldn't have copped such a big 'tuition' or 'learning fee' if I had xD
What you guys think?
Probably wouldn't have copped such a big 'tuition' or 'learning fee' if I had xD
What you guys think?
Oct 18 at 08:18
GhostTradersFX posted:They do get an edge! I’ve gone through the trial-and-error phase too, and good resources like books or mentors can really save you from those costly mistakes. It definitely helps to learn from others’ experiences. What about you, any resources you’ve found useful?
Curious what my fellow Myfxbook users think about this, I'm self-taught myself through some pretty painful trial and error. Sometimes I find myself thinking what my journey to profitability would have looked like if I had/could find a good resource to learn from, be it a book, mentor, videos, etc.
Probably wouldn't have copped such a big 'tuition' or 'learning fee' if I had xD
What you guys think?
In trading, knowledge is power; in practice, patience is key.
Member Since Jan 20, 2023
1 posts
Oct 18 at 08:27
Yes with the right education, traders have a big lead in this race.
Navigating the markets with insight, precision, and discipline for consistent success.
Member Since Aug 18, 2019
52 posts
Oct 18 at 11:53
I think with the right education and mentorship, traders absolutely have a better chance of success. Trial and error, while useful, can be costly. Learning from others' mistakes and experiences helps speed up the process of becoming profitable. That said, each trader's journey is different, and some level of personal experience (and mistakes) is inevitable. In the end, persistence and continuous learning are key. Have you found any specific resources that you wish you had discovered earlier in your journey?
Oct 21 at 05:43
Totally feel ya! Self-taught route is rough, but worthwhile. I believe that trial and error really sticks with you. A good resource or mentor would’ve definitely cut down on some of those painful lessons though. Still, it’s all part of the learning process tho. Found any good resources after the fact?
Member Since Aug 18, 2019
52 posts
Oct 21 at 12:37
blair3 posted:I agree, the self-taught route definitely leaves a lasting impact. After going through that phase, I found a few solid resources like 'Trading in the Zone' by Mark Douglas and some technical analysis videos that really helped. Mentorship would've been ideal early on, but these resources have still been a great help. How about you? Found anything that's made a big difference?
Totally feel ya! Self-taught route is rough, but worthwhile. I believe that trial and error really sticks with you. A good resource or mentor would’ve definitely cut down on some of those painful lessons though. Still, it’s all part of the learning process tho. Found any good resources after the fact?
Oct 26 at 10:01
GhostTradersFX posted:I don’t think it’s possible to find a mentor in this field in the classic sense—someone who will teach you how to make a profit. If they know how to earn well, they could just increase leverage or add working capital themselves, given the vast market liquidity. As for the basics, including algorithmic strategy development, there are plenty of resources for that—YouTube videos, books, webinars like those from HFM, and forum discussions, where useful insights occasionally pop up. In general, knowledge is gathered piece by piece.
Curious what my fellow Myfxbook users think about this, I'm self-taught myself through some pretty painful trial and error. Sometimes I find myself thinking what my journey to profitability would have looked like if I had/could find a good resource to learn from, be it a book, mentor, videos, etc.
Probably wouldn't have copped such a big 'tuition' or 'learning fee' if I had xD
What you guys think?
Member Since Oct 28, 2024
13 posts
Oct 29 at 13:42
GhostTradersFX posted:We also went through a difficult path with many losses and good profits.
Curious what my fellow Myfxbook users think about this, I'm self-taught myself through some pretty painful trial and error. Sometimes I find myself thinking what my journey to profitability would have looked like if I had/could find a good resource to learn from, be it a book, mentor, videos, etc.
Probably wouldn't have copped such a big 'tuition' or 'learning fee' if I had xD
What you guys think?
Gaining experience is always hard and bitter, but it can lead to unique results.
Together, we can unlock endless opportunities and achieve your desired results.
Member Since Aug 18, 2019
52 posts
Oct 29 at 13:57
Learning through trial and error is definitely a unique journey. Each mistake teaches a new lesson, but it also brings a level of risk and cost that could be minimized with the right resources. While books, webinars, and online courses provide solid foundational knowledge, the real value of mentorship lies in the practical, personalized insights that shorten the learning curve and offer clarity. By investing time in understanding proven strategies and effective risk management early on, traders can build a more solid and less stressful path toward consistent gains.
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