AniLorak posted: Agree with your opinion! It’s all about trading knowledge! But I see, many new traders try to rely on their healthy trading capital or luck, but end of the day they lose their everything!
Forex trading is a profitable business to the knowledgeable traders only! Here, knowledge is the power-house!
You are right! A number of new Forex traders try to rely on their luck! But, if you want to be lucky here then learn first (New Traders).
Forex is profitable but for that profit one must learn the basics of forex trading. There are people who have made millions through forex trading and are continuing with the same.
But how do they earn so much through forex?
The answer is their knowledge about the markets.
Good forex traders do the following to earn good profits in the forex market :
1. Plan their trading strategy.
2. Scan the forex markets carefully.
3. Determine the risk-return ratios for various investment opportunities.
4. Keep their emotions aside.
5. Undertake risks, as higher the risk higher the profitablity.
6. Stay tuned with all important information related to forex markets.