What is the importance of knowledge?

Jul 22, 2022 at 11:16
3,323 Views
62 Replies
Member Since Apr 09, 2019   538 posts
Jul 25, 2022 at 10:09
All very true but remember that knowledge is knowing things and intelligence (of which there are many kinds) is the ability to apply it.
If you can't spot the liquidity then you are the liquidity.
Member Since Aug 05, 2021   401 posts
Jul 25, 2022 at 16:25
I think this is broken down and explained well and can definitely translate into the different kinds of knowledge needed by traders as well.
Member Since Jul 13, 2022   32 posts
Jul 26, 2022 at 06:27
When it comes to trading, knowledge is everything. You cannot trade effectively unless you have knowledge.
Member Since May 02, 2022   38 posts
Jul 27, 2022 at 11:38
Knowledge plays a very important role in the success of a trader because it enables an individual to make wise decisions.
Member Since Jul 06, 2022   24 posts
Jul 27, 2022 at 16:04
Knowledge and experience, in my opinion, are the two most important components for the success of a trader. Thanks for the interesting content!
Member Since Jul 28, 2022   11 posts
Jul 28, 2022 at 04:36
This is carefully broken down and explained, so thank you for that. When it comes to trading, I always consider knowledge to be crucial since without it, it would be tough to grasp without anything to back it up.
Member Since Jul 26, 2022   49 posts
Jul 28, 2022 at 07:26
Knowledge and constant learning are major aspects for success in forex market. Learning should never stop , no matter how much experienced you are!
Member Since May 02, 2022   38 posts
Aug 01, 2022 at 12:06
Trading knowledge and a trading plan is paramount to having a successful trading journey. It is important to understand that trading education will never be over and that there will always be new concepts to study, strategies to develop, and skills to master.
Member Since Aug 19, 2021   240 posts
Aug 01, 2022 at 13:43
Oh in general, you say the right things. But I do not agree with everything. As for me now the knowledge about forex obtained from books is too old-fashioned. Time goes by, stock markets change, CFD's changes. Now there is a different trading methods and other methods of earning. Therefore now it is more correct to receive new knowledge directly on Forex forums, lmao.
Member Since Jul 19, 2022   22 posts
Aug 05, 2022 at 10:16
In order to be successful in forex trading, traders need to have a good understanding of the market and how it works.
By educating yourself about the market and the different forex trading strategies, you can make more informed decisions about your trading. And can manage, minimise your risk and maximise your profits.
Member Since Aug 06, 2022   17 posts
Aug 08, 2022 at 12:14
Knowledge is power! As a beginner I first developed knowledge and then utilised it in demo account. After learning and placing successful trades. I started up with micro account.
Member Since Jul 13, 2022   32 posts
Aug 09, 2022 at 12:19
When it comes to trading, knowledge is everything. You cannot perform well unless you have knowledge.
Member Since Aug 05, 2022   28 posts
Aug 12, 2022 at 13:13
It's very important when you're choosing a broker. Make sure to do a comprehensive comparison.

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Member Since Aug 05, 2022   28 posts
Aug 12, 2022 at 13:17
To learn to use some forex tools is a way to get forex knowledge

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Member Since Jan 11, 2022   45 posts
Aug 17, 2022 at 06:04
If a trader doesn’t have knowledge about the trading, how will he place the trades and expect to win? Trading without knowledge makes it gambling, which is full of risks. In gambling, you can win big but you have the risk of losing it all. With knowledge, you will know the techniques of how to manage losses as well. In a nutshell, knowledge is the first step of the ladder to success in forex trading and you can’t afford to skip.
Member Since Aug 03, 2022   25 posts
Aug 17, 2022 at 10:26
Knowledge gives you power to see the market as it is and you don’t have to make assumptions out of anything. When your trading decisions are based on your knowledge and skills, you tend to make more profits than otherwise.
Member Since Aug 02, 2022   22 posts
Aug 17, 2022 at 10:35
OP has explained the term ‘knowledge’ in detail through the post. And when we talk about forex trading, knowledge is the foundation that helps us to develop skills as a newbie trader. Market knowledge is very much needed to make money from forex trading. Having knowledge surely gives us an edge without which we won’t be able to move forward in the forex market.
Member Since Aug 05, 2022   28 posts
Aug 17, 2022 at 13:17
Be wise to implement the knowledge, my suggestion is to start with some forex tools.

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Member Since Aug 17, 2022   80 posts
Aug 18, 2022 at 10:12
Ambersmith345 posted:
Trading knowledge and a trading plan is paramount to having a successful trading journey. It is important to understand that trading education will never be over and that there will always be new concepts to study, strategies to develop, and skills to master.

Yes, to be a successful trader one should track the daily chart patterns and broad economic issues that influence financial markets.
Member Since Aug 02, 2022   18 posts
Aug 18, 2022 at 11:23
Knowledge is everything in trading. Without knowledge, there is only failure in forex trading. We cannot depend on others or copy them to trade. We have to focus on our own game and trade, for which knowledge is absolutely essential. Moreover, it doesn’t make sense to trade without knowledge when there is so much information available on the market these days.
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