Forex Blog : Does Past Trading Help?
Does Past Experience Help?For our Forex blog post of today, we are going to talk about a question that comes up quite often. There have been quite a few people who do have some form of investing of finance background. They think that because of this they will parlay that knowledge into Forex and make a killing. Well, our forex blog is going to steer away from the notion and talk about the more realistic scenario. For our forex blog and our site to run efficiently, we have to give great tips to make every new reader better. Well, here is a great one: Don’t get too cocky! We understand that if someone has a history of trading stocks that he has more knowledge over someone who has no past experience. We are not disputing this. What we are disputing is the fact that Forex is in in of itself a financially vehicle that needs to be learned on it’s own. Traders that come from playing the market might understand the “bull” vs “bear” scenario, but how about trading on margin? Using 100:1 leverage? Trading at different times…. The list goes and on. Forex cannot be compared to any other financial system because it is it’s own. So, in this forex blog article, we will say this. We do think you will have a head start coming from another form of trading over the beginners, however in the end you are all going to be starting from the bottom and working your way up the food chain. This might not seem true to some people, but think of all of the stock gurus that you might have encountered. They are stock gurus because that is their niche. If it was so simple to go from one investment to another, they wouldn’t be stock pros, they would be a EVERYTHING pro. We hope that this forex blog post opened some eyes about the though of getting ahead of all the other guys. Yes, people who had traded knows more of the trading language, but strategies are completely different.
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