Many people who want to become successful Forex traders are making a massive mistake.   It is easy to understand why they make this mistake because it is counter-intuitive.   The truth is, learning everything about Forex and trading is not the way to become a good trader.   What most people need to do is to stop learning more systems, techniques and methods, and start practicing and gaining real experience.

It seems logical that if you know more about Forex, you should make more money trading Forex, but that is not necessarily true.  There comes a time when too much knowledge makes your trading frustrating and overly complex.  You add so many different methods and techniques to your system that it becomes very hard to trade.  Or, you lose confidence in your trade setups because you have so much conflicting information.  Confusing yourself and not having the confidence to place the trade is not the way to make your account balance grow.

There are so many ways to trade Forex, your education could last a lifetime.  But the good news is, you don’t need to know everything about Forex to succeed, and you shouldn’t even try.   If you learn a simple trading system, and gain the necessary experience to master the system, you’ll be much more successful than learning every concept about Forex and trading in general.

Simply put, to become a better trader you need to TRADE more.  And don’t be fooled, the time you spend learning is NOT considered trading.  Real trading experience only comes from placing trades in the real market under live conditions.  This is the only way to learn the finer points of the system, discover psychological trading issues you need to overcome and gain real experience in the Forex market.  You can never learn these things from reading a book, watching a video or even observing other traders trade.

Trading Forex is a skill based activity. And like all things that require skill, you need to practice, practice, practice.   Learning alone is not going to help you develop the skills you need to trade profitably.

Here is a quick example.  If I wanted to teach you how to shoot a basketball I would devote about 5 minutes teaching you the mechanics of shooting.  Then I would give you a ball and you would practice shooting.  Only that way would you acquire the real experience you need to start making baskets.

Becoming a better Forex trader happens the exact same way.   Learning the system from a book, video or mentor is the easy part and takes a relatively short time.   But the process of applying what you learn needs to take place by placing trades in live market conditions.   This is the only way you can gain the experience necessary to trade the system consistently and successfully.

Becoming a profitable Forex trader is a process of learning AND practicing. Join Forex Insider Pips to follow the process of becoming a profitable Forex trader.  You will get real action steps to follow as well as exclusive trading tools to make your trading easier, less stressful and more profitable.