Of course it is true for every profession. How can one be expected to perform at the peak of their abilities in any field if they have not had the proper background training? With respect to Forex trading it is not about performing at the peak of one’s abilities, it is about not losing all one’s trading capital very early on and bringing about an abrupt career exit.
It is only after a trader has learned well the art of longevity that he even has a chance to begin to work on developing the skills that raise his performance to a peak level. All of this boils down to the idea that in order to succeed as a trader, obtaining a proper Forex education is paramount.
A very importance aspect of your Forex education is the concept of money management, and is perhaps the place where you want to begin when you undertake learning to trade the Forex markets. Good money management methodologies when put in place limit trading losses when markets move against the trader. Very good money management methodologies permit the trader to generate steady profits over time even when the number of losing trades is greater than the number profitable trades.
Another crucial component of a proper Forex education is a fundamental understanding of market trends. In the absence of totally random price action, markets will settle into trends. Trends are sustained movements in one direction or another, even if that direction is sideways. Trends are not so much predictable as they are identifiable, and when a trader is skilled at trend identification, he can if he detects it early enough, ride that trend and earn some money until it becomes clear that the time has come to take profits and get out.
There are other important themes and concepts that go into a proper Forex trading education, but to synopsize, the most considerable of all these will relate to risk management, money management, and trend analysis.