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For trading you do not need

Davidtaylorr
Feb 17 2021 at 09:53
31 posts
caringloriana posted:
Davidtaylorr posted:
caringloriana posted:
forextrader777 posted:
I agree that you can make a lot of money via forex trading. But never ever jump into trading without in-depth knowledge of the forex market.
Earning through forex is easy and fast but it can be risky too if a trader won’t be having any prior knowledge about that.
Yes, but some new traders don't think that way. Some feel that they’ll learn about the market while trading only
I agree that practically doing things gives you better understanding of the things but for that also you need to have at least some knowledge about the forex market. I have also demo traded initially to learn how trading is done through Turnkeyforex and eToro but for that also I did my research first. Maybe that is the reason why I am able to make good profits.
You are totally correct. You should be having knowledge about at least those places where you have invested your money.
RobSchiz
Nov 07 2021 at 19:28
567 posts
Davidtaylorr posted:
caringloriana posted:
Davidtaylorr posted:
caringloriana posted:
forextrader777 posted:
I agree that you can make a lot of money via forex trading. But never ever jump into trading without in-depth knowledge of the forex market.
Earning through forex is easy and fast but it can be risky too if a trader won’t be having any prior knowledge about that.
Yes, but some new traders don't think that way. Some feel that they’ll learn about the market while trading only
I agree that practically doing things gives you better understanding of the things but for that also you need to have at least some knowledge about the forex market. I have also demo traded initially to learn how trading is done through Turnkeyforex and eToro but for that also I did my research first. Maybe that is the reason why I am able to make good profits.
You are totally correct. You should be having knowledge about at least those places where you have invested your money.
Yes. minimum knowledge is needed to trade in this market.
GraceGilm
Nov 09 2021 at 14:38
154 posts
I think that without knowledge of any in any occupation it will be difficult, so it's not even worth discussing this aspect
pipham
Nov 19 2021 at 04:34
53 posts
It’s true many traders only spend a few hours and still earn more than the ones who keep themselves glued to their screens all day long. It’s not about how much time you spent trading but how well you utilize that time. Whatever time you spare for trading, you should do your homework and know how the market behaves during those hours, which currencies are more profitable to trade, etc.
AlanSolarsh
Nov 19 2021 at 04:54
8 posts
Along with utilizing time, you should be with some strategies which will help you to come up with new ideas to trade in forex.
AlanSolarsh
Nov 19 2021 at 05:02
8 posts
pipham posted:
It’s true many traders only spend a few hours and still earn more than the ones who keep themselves glued to their screens all day long. It’s not about how much time you spent trading but how well you utilize that time. Whatever time you spare for trading, you should do your homework and know how the market behaves during those hours, which currencies are more profitable to trade, etc.
Foreign Exchange markets is are markets in which foreign currency is traded for domestic currency. The exchange rate is the price of foreign currency. It is extremely difficult to predict the short-run direction of exchange rates. Economists often view changes in exchange rates as following a random walk, which means that a future increase is as likely as a decrease.
Akasuki
Nov 19 2021 at 06:34
564 posts
@AlanSolarsh Only trading is strategy is not enough to be successful in forex market. Trading is 90% psychological. Our decision gets influenced by our emotions. We need to learn how to control those emotions.
UweMoench
Nov 20 2021 at 13:15
751 posts
@Akasuki Yes you are right. Strategy is not everything though many traders think strategy is everything. Strategy is one of the important things but not everything. There are more things in trading.
SteveHanks
Nov 21 2021 at 18:37
536 posts
UweMoench posted:
@Akasuki Yes you are right. Strategy is not everything though many traders think strategy is everything. Strategy is one of the important things but not everything. There are more things in trading.
Beside strategy you need proper knowledge to use it.
blancheklein
Nov 30 2021 at 05:47
36 posts
Trading requires time but that can not be specified as it depends on trader to trader and their trading style. But some things are common like patience and dedication to learning, no matter what style of trading you are following.
UweMoench
Nov 30 2021 at 15:09
751 posts
@blancheklein Yes learning trading needs a lot of time. But it varies from person to person. As everyone has different level of understanding power. We should follow according to our strength.
skihav
Nov 30 2021 at 17:12
801 posts
The main thing that a trader shouldn't do is to be too emotional. This is really something to look out for.
shortant
Dec 03 2021 at 04:36
73 posts
If you have proper knowledge about it, forex trading is a simple process. You need sound knowledge to trade in the market properly. This will give you the confidence to go on and, more importantly, will enable you to achieve success more quickly.
RobertFerrari
Dec 05 2021 at 08:24
412 posts
shortant posted:
If you have proper knowledge about it, forex trading is a simple process. You need sound knowledge to trade in the market properly. This will give you the confidence to go on and, more importantly, will enable you to achieve success more quickly.
Without the proper knowledge, A trader may lose all his investment in this risky market.
croisssan
Dec 05 2021 at 13:57
939 posts
It is easier to find what a trader needs to trade. In this case, the list will be much more extensive.
LyudmilLukanov
Dec 07 2021 at 17:28
822 posts
Anyone can trade in the forex if they have researched a lot about it and are aware of the risks involved.
RobertFerrari
Dec 08 2021 at 18:10
412 posts
LyudmilLukanov posted:
Anyone can trade in the forex if they have researched a lot about it and are aware of the risks involved.
Proper research is very necessary to make a good trading career.
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