Why you can’t read a textbook and beat the banker

Posted by on Apr 22, 2014 in Featured, Learning to Trade?

Why you can’t read a textbook and beat the banker

Recently I have been connecting to a number of different traders on social media platforms. I find it very interesting to find out how and why people became involved in trading (especially in the ForEx market) and how they set about educating themselves about the market.

A common theme amongst those that I have asked is research and reading up on the industry. I agree that this is a great way to gain knowledge on the industry and to get an insight into the world of trading. It is always essential to understand the theory behind a skill but it is vital to gain real experience before you trade.

It is a common theme in so many industries that people have all the theory and knowledge that they need to understand something but when it comes to putting it into practice the ideas that you have been taught may seem idealistic. Very rarely do people warn you about the emotional impact losing money in the market can have on a person and the psychology that should be understood before entering a trade.

Trading is a skill that needs to be nurtured and developed and while having the theory is fantastic live trading can be completely over-whelming. We have all been over-whelmed by the market and our wins or losses no matter how long we have been trading.

After teaching delegates the notions behind the market Plan B Trading offer people a chance to trade live, in the hope that people will walk away from the course knowing exactly what to do when they are ready to trade. Experience is key in trading industries and it is important that people know not only how to read the market but how to navigate software and ensure that they can opt out at any given time.

Educating yourself is innovative and fantastic but putting those concepts into practice is invaluable. Plan B Trading can help no matter what stage of trading you are at. Click here to get in touch and find out how we can benefit you.