Learning Vs. Practicing: On Which One a New Trader Should Focus More?
Learning and Practicing are the two fundamental aspects of trading. We often see people wander on which one a new trader should focus on more?
When a new trader learns how to trade, he often feels driven to learn more and trade more. It’s human nature to want to do too much with what we enjoy.
But it’s not always an excellent exercise. You should figure out what to learn, when to learn, what to practice, and when to practice.
Moreover, every educational site emphasizes learning and practicing in a balanced way for the best outcome within the shortest possible time.
So, let’s figure out everything before diving into a conclusion.
Learning:
It is the process through which one gains knowledge. If you want to learn anything, no matter what it is, the very first step you must take. Through the process, you suddenly realize something you’ve understood all your life, but in an alternative way.
Once you learn something, there is no way anybody can take it away from you. No matter how much, there is always a new thing to know about.
Right?
Let us quote a few words of Henry Ford,
“Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.”
So perfectly said.
Practicing:
It’s the second stair that comes right after learning. As we have mentioned earlier, if you want to know anything, understand it first. And then, to get good at it, practice until you reach your desired milestone.
There is indeed no glory in practice. But without practice, there will be no glory. By the way, there is a strange loop trap that exists between learning and practicing.
Let’s name it the “learning loop trap.”
Once you fall for the trap, you only keep learning and never actually apply what you’ve learned in your real-life situations. Eventually, forget all the facts after a while.
Both new and experienced traders could get the benefits if they practice their strategies before implementing those. Click here to find out the best binary options broker list to open a demo account.
Learning Vs. Practicing; Which One Should Be On Focus For A New Trader:
By doing this, you will come to know about different trading types such as binary options, Forex, cryptocurrency, stock trading. Besides, other educational materials for trading like choosing the right broker, making a proper trading plan, etc.
And after learning as much as you need, practice them on a demo or real trading platform.
However, practice pinpointing all the underwater pitfalls, study your self-control power and realize your mistakes. To simply put, Practicing is learning, but learning is not practicing.
Conclusion:
To conclude, we must add that every novice trader should focus on learning and practicing in a balanced way.
He must have to learn new things to sort out which one is best for him. And then practice what he knew to increase efficiency.
