Educated means you put in the hours to study and learn trading matters. It doesn't necessarily need to be formal education or enrolling to a school. Educating yourself can be free or paid. You can have online resources, mostly are free; you can attend seminars or buy books to enhance your knowledge. You can watch YouTube videos regarding trading, systems, styles, techniques. All of those are form of educating yourself to be a successful trader. So, if you're asking if a successful trader needs to be educated, the answer is a big YES!