Experience is key, go for it.

[lovesmayfamilis]

You're saying banal things, OP. But in practice, how many successful traders do you know in your circle, for example? And how many of those for whom the experience of mistakes and failures has forever discouraged the desire to do this? When should a person understand that he is ready to practice? It usually takes a lot of time to gain experience, and I am more than sure that for many people, experience is always associated with many mistakes. What should a person do next if they have too much self-confidence and a great desire to get rich quickly? And what should he do when he realizes, after regularly making mistakes, that he is not doing his own thing? You know, write the kind of posts that are full of them on the Internet. There are a lot of posts motivating people to go ahead, but the fact is that there are some moments of luck that go together with experience, and only this makes a person successful.

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[michellee]

Learning to trade without practicing it will not help a person understand how to trade. They won't have much experience without practice. By practicing what they have learned, they will gain valuable experience.

And a person's experience can increase as his ability to analyze the market increases. With experience, someone can learn and fix their mistakes so they don't experience or make the same mistakes. Experience helps people know when to trade and exit the market.

And that experience applies not only to trading but also to everyday life. With experience, we can also become wise in facing life every day and it will also help control our emotions so that when we trade, we can also control our emotions well.

[goxcraft]

OP, I agree with you here. Having vast knowledge isn't enough for trading. Experience is the key when it comes to trading. I saw that Binance recently added a feature called copy trading to their platform. You can basically copy a trader's trade techniques or methods. Anyone with good knowledge can perform this simple task. But profit isn't guaranteed here unless you know when to trade and when to hold. Only an experienced person knows when and when. This is true for everything we do like gambling, betting, tading, mining etc.

Either way, knowledge and experience are everything we need in life, especially the bad ones. They will ensure that you won't make the same mistake twice. Of course there will be ups and downs, at least you would know what went wrong.

[Finestream]

But when we say about bad crypto experiences then people set the mindset that it is scam so can we say they have learnt from it? They make different assumptions out of it but good experience comes from learning and once you start exploring and understanding about it so it should be best option although you learn from your mistakes as well.

Whether it's a scam or not, we'll still be able to learn from our bad crypto experiences. The only way that you can say one has not learned from it is if he still chose to repeat the same mistake again.

However, when we talk about investing or trading, being well-experienced on the market is a must. If you only focus on increasing your acquired knowledge without honing your skills, you can't say that you are actually learning. Because to be honest, we all learn through our different experiences regardless if they are good or not, as long as they bring us lessons to learn and ponder. And by the time that we can conclude what is trading or investing, that's the time that we have experienced their different risks until we finally come to understand them.

[Kasabus]

No matter the amount of information you receive on this forum, if you don't practice and work on having a first-hand experience, you won't understand much.

Experience is key in everything we do and it plays a huge role in determining how successful we will become in that field.

Experienced traders know when to buy when to sell, and when to hodl. They also know how to manage any fluctuation in the market, This helps them to minimize losses and guides them to take reasonable risk.

As you choose either to trade, mine, or do what works best for you, don't forget to learn the fundamentals and apply them correctly. also learn how to start small and gradually, you learn on the job and with time your experience level should have grown and you can now start making a reasonably calculated risk.

They say knowledge is power, but for someone to be knowledgeable, you should be an experienced and skillful as well.  This is why getting first hand experience is always essential most especially in trading activities that needs more constant practice and application for you to become a reliable and successful trader.  While there are traders who only focus on fundamentals, but working on its technicalities is very crucial as well as no one gets to perfect trading without engaging in both fundamental and technical aspects.

However, know that in everything we do experience would always be the best teacher. One can never truly learn without putting practical application on it most especially in trading market where uncertainty and volatility is very high.

[Truthlovecoins]

One funny quote about 'experience', is that one mat not live to tell the tale in the end, that's why it is important for everyone venturing into a new path such as trading cryptocurrency to know this, have peace from within, abide by the rule of trading, and try to learn from every situation or mishap encountered along the way.

I would go for the experience of having to try out something I have always wanted to, of which I see a potential of success to percentage greater than 50.
What am saying is that, the experience of actually putting into practice all I have learnt on trading crypto is worth more than the price of bitcoin or gold in the market now.

[lalabotax]

No matter the amount of information you receive on this forum, if you don't practice and work on having a first-hand experience, you won't understand much.

Experience is key in everything we do and it plays a huge role in determining how successful we will become in that field.

Yes, it cannot be denied that experience is the best teacher and this is one of the keys to success. Even failure becomes a very valuable experience for us in doing something. Of course, the hope is that we can avoid the same mistakes and failures as in the past.

However, in this case, especially in crypto trading and investing, there are several things that must be ensured before we actually do learning by doing to gain experience. Namely preparing ourselves as best as possible by seeking an understanding of Bitcoin, cryptocurrency, trading, investment and others in the crypto business. This is all to minimize bad experiences that will occur. Indeed, we will never be able to avoid bad experiences 100%, but with careful preparation, at least it will be much better and lower risk.

On the other hand, even if we experience failure, we really know how to handle it well. So that we can evaluate these failures in the future. And one more thing, experience does not only come from us. We can also take advantage of other people's experiences for our future.

[_BlackStar]

You're saying banal things, OP. But in practice, how many successful traders do you know in your circle, for example? And how many of those for whom the experience of mistakes and failures has forever discouraged the desire to do this? When should a person understand that he is ready to practice? It usually takes a lot of time to gain experience, and I am more than sure that for many people, experience is always associated with many mistakes. What should a person do next if they have too much self-confidence and a great desire to get rich quickly? And what should he do when he realizes, after regularly making mistakes, that he is not doing his own thing? You know, write the kind of posts that are full of them on the Internet.

lovesmayfamilis - you peppered him with so many questions, I hope he doesn't get overwhelmed by answering them all well. LOL

There are a lot of posts motivating people to go ahead, but the fact is that there are some moments of luck that go together with experience, and only this makes a person successful.

I totally agree with this one – of course because every successful person needs that one moment for all their previous efforts to really pay off, that's the process. The problem is how much he is able to try to keep getting up after failure, how long he is able to be patient, how consistently he is able to continue enjoying the process. All of that is difficult – but someone who has been successful has definitely experienced it.

[CryptopreneurBrainboss]

No matter the amount of information you receive on this forum, if you don't practice and work on having a first-hand experience, you won't understand much. Experience is key in everything we do and it plays a huge role in determining how successful we will become in that field.

Personal experience matters alot, when two people are speaking on a subject that they both have experience but from different sources, you can identify the person that's speaking from personal experience. Personal experience teaches you lessons that you learn from and better yourself while others experience just gives you a guidelines that you can't always fully defend. It's good to have others experience so you don't make silly mistakes that can cost you alot of money but personal experiences are very important. Let's take learning how to drive as an example, someone's teaching you verbally from their experience won't have same impact as you practicing by yourself and gaining experience as you make mistakes and correct yourself with their guardians though .

As you choose either to trade, mine, or do what works best for you, don't forget to learn the fundamentals and apply them correctly. also learn how to start small and gradually, you learn on the job and with time your experience level should have grown and you can now start making a reasonably calculated risk.

For somethings, we have to learn fully before we start doing them and not think we'll learn them along the journey. When you want to Invest in Bitcoin you can know some basic and then you Invest and learn more along the journey as your adventure in Bitcoin continues but when you want to trade, if you haven't learnt everything needed to know I won't advice you start trading, the strategy can be changed as you gain more experience from your trades but you don't have to learn half way and think you can start trading and profiting. When you do like that, you'll lose horribly to the market that might make you to quit trading entirely because you won't be able to recover from the losses.

[freedomgo]

That's absolutely right! Experience is the key because there's a saying that theory doesn't always work in real life. You'll only find out if something works or not when you put it into practice in a real-life situation. With experience, you can learn and make necessary improvements to reach your goals, whether it's in trading or investing. Just keep learning from those experiences until you succeed.

In trading, for instance, what you learn from reading is probably just the basics. You'll quickly realize how volatile the market is, and changes can happen overnight. Without gaining experience, you won't truly understand the real market situation. Take Bitcoin, for example. When it experiences a big drop, according to theory, it might seem like it's about to collapse. But that's not the real situation. Bitcoin has seen significant drops many times, yet it has always bounced back. This is why investors still have confidence in it.

[icalical]

Tho I do agree on some degree, I wouldn't suggest any newbie to just 'go for it' without enough knowledge and information, except if you have a lot of fund to be used as experiment. Speaking from experience, I don't start with a lot of fund, I would recommend anyone who want to do Bitcoin trading or mining to learn the very details, it's ok to learn a little bit longer before you actually experience trading or mining. In that way you might minimize the risk of losing your money.

[vv181]

Practical know-how is essential to help comprehend some subjects fully. In some cases, theoretical knowledge also helps to gain foundational aspects, but if one is able to get exposure to experience, surely it would be good to achieve.

Nevertheless, we need to be aware of which subject where a practical comprehension is necessary. In which where theoretical knowledge is meaningless without it. In your example, trading, it is meaningless if someone merely has theoretical knowledge. That subject does require experience and practical understanding. So, it is not absolute.

[knowngunman]

Experience is the best teacher. But its better if you learn from the experience of others than waiting till you get the experience before you learn. When it comes to trading, there are lots of experience that has been shared on the internet especially in the forum here for beginners and other level to learn and practice so that they wont fall victim of any. So if you go through them try to understand what they have shared if it is what you will adapt and practice. One thing for sure is that the final decision is still yours to make whether to adhere to what they have shared and follow their advise or you can try your pattern to see if it will work best for you not minding the repercussion. This means that you are accepting any consequences and your ready to learn from your mistake. So in conclusion there are two ways to learn. One is from the experience of others and the other the experience you get form your own mistake.

I totally agree with you on this. Yes, experience is the best teacher and the key as the op put it but you don't need to make mistakes on your own just to get the experience. A lots of experience are on ground both in the forum and outside the forum that we can learn from. Although having personal experience pass a strong message than learning from other's experience. However, if we pay attention and study well from other's experience, we can escape having a personal experience because no one like to have a bad experience despite that it's good to have such experience some time due to our negligence so that we can learn the hard way.

Seek the necessary knowledge and information first before thinking of going for that experience else you will blame yourself for taking such steps after the bad experience. If the knowledge is enough, it will help to reduce the risk during the practice to the barest.

[CageMabok]

No matter the amount of information you receive on this forum, if you don't practice and work on having a first-hand experience, you won't understand much.

Before someone gets experience for anything, he must also look for a glimmer of information he needs to start something he wants, because everyone is not born into this world immediately bringing their own experience. A person must practice better, even if it starts from his own parents, relatives, or the environment where he has played since childhood, so that experience also takes time to look for and it will be more focused when someone can get information that is more appropriate for him.

Experience is key in everything we do and it plays a huge role in determining how successful we will become in that field.

The process of gaining any experience also takes a long time, so each person must respect this process so that they can gain experience and use it as the key to something they like. A person must also consider all information as very important because from that he can also make a study before starting to do something so that information is also an important part that must be appreciated by everyone even though that person already has experience that he has gained from his own environment.

Experienced traders know when to buy when to sell, and when to hodl. They also know how to manage any fluctuation in the market, This helps them to minimize losses and guides them to take reasonable risk.

That's a very simple example and can also be found more easily in the crypto space, but you also have to see how many experienced traders fail before they really master when to buy, when to sell, and when to hold. Because before he knows these three things, there is a big possibility that he will also fail in his trading so that he can learn well from this and make it a very valuable experience for himself so that he doesn't fail again in the next trade.

[Pingrapole]

There are two types of experience one is learned by rote and the other is acquired through lots of study and learning is definitely the key to success.Experience is another important factor. You must really understand what is good for you and what is bad for you Experience is your key will become You actually have to overcome fear first and handle trading or any other thing with patience then experience will take you to the ultimate peak.But you have to follow good experiences along with bad experiences to trade because those who follow bad experiences and fail to learn from them are followed by real knowledge.If you invest your capital by following those who have achieved it well, you will see that you have acquired a high level of knowledge about trading and have successfully overcome obstacles.Finally I think it is not possible to gain knowledge in all subjects by just getting education here one has to gain experience from practical or applied point of view and failure is also necessary because failure is the key to success.

[zaim7413]

Experience is the most valuable teacher, this proverb may be familiar to Bitcointalk forum users. Whatever is done today will become experience in the future, an investor who has sufficient experience will find it easier to carry out plans to gain profits from Cryptocurrency investments.
To become a successful investor, experience is very necessary. It's like saying, people who have tasted pizza already know how it tastes, while people who have never tasted it can only guess how the pizza actually tastes.

[Mpamaegbu]

No matter the amount of information you receive on this forum, if you don't practice and work on having a first-hand experience, you won't understand much.

I've heard people in various gatherings say that information isn't necessarily power until it's activated, and I believe that. Some have access to certain privileged information that can change their fortunes overnight but get laid-back executing such. They expectedly will remain on the same level as those who are also completely ignorant of that information.

Experience is key in everything we do and it plays a huge role in determining how successful we will become in that field.

Nothing beats experience. Those who've fallen victims to scam should've that experience and know how to beat them at their game next time. Sadly, that isn't the case as most times the victims repeatedly fall to the same scam but packaged in a different module.

[Franctoshi]

There are two experiences, the good and the bad. To experience the good side is first to read, understand, and then put into practice, if you don't read before jumping to experience, your hands will burn, and by hands I mean you will learn the hard ways because you are going to lose everything, that's trading for you.

No doubt, It has already been said that experience is the best teacher and on the other way round is better to learn from someone else's experience, But sometimes is good to allow people to experience things themselves, so far it will not cost them much injury or their lives. when you experience things you will have a better understanding of the situation and know how to deal with them,  there is no way you can totally get rid of bad experiences, they will always come.

Now bringing it to trading and investment, no matter how you learn from someone's trading experience, there are some things you won't get right unless you feel it.

Take you for instance,  and using risk management as a case study, some people won't get the whole gist about risk management until they hit a loss which will teach them the biggest lesson of their life.

[Renampun]

No matter the amount of information you receive on this forum, if you don't practice and work on having a first-hand experience, you won't understand much.

Experience is key in everything we do and it plays a huge role in determining how successful we will become in that field.

Experienced traders know when to buy when to sell, and when to hodl. They also know how to manage any fluctuation in the market, This helps them to minimize losses and guides them to take reasonable risk.

As you choose either to trade, mine, or do what works best for you, don't forget to learn the fundamentals and apply them correctly. also learn how to start small and gradually, you learn on the job and with time your experience level should have grown and you can now start making a reasonably calculated risk.

The point is that you have to be consistent with whatever you want to master or are currently doing. if you are trying to become a trader then what you have to do is try to become a good trader by learning basic trading skills and also collecting capital that can support you in trading.

It's the same as when you are trying to become a Bitcoin or other altcoin miner, you have to be consistent and also learn the basic things a miner should do. Consistency and persistence are two important elements that will make you successful in whatever you are doing.

[Viscore]

No matter the amount of information you receive on this forum, if you don't practice and work on having a first-hand experience, you won't understand much.

Experience is key in everything we do and it plays a huge role in determining how successful we will become in that field.

Experienced traders know when to buy when to sell, and when to hodl. They also know how to manage any fluctuation in the market, This helps them to minimize losses and guides them to take reasonable risk.

As you choose either to trade, mine, or do what works best for you, don't forget to learn the fundamentals and apply them correctly. also learn how to start small and gradually, you learn on the job and with time your experience level should have grown and you can now start making a reasonably calculated risk.

Experience will certainly be the best teacher in all forms of learning. As they say, you learn more by putting more practice and more experience until you become better on your chosen endeavor. Most especially when it comes to trading as its a battle of mind and skills, until you create your own working strategies that will make your trades work and succeed.

Learning without putting in action is useless. Although you may learn the theories and all its methods or strategies, but when it comes to practical application, you eventually fail. Not because you seem less knowledgeable, but because you lack the skills that is a crucial part in learning.