What is the importance of knowledge?

Jul 22, 2022 at 11:16
3,312 Views
62 Replies
Member Since Aug 17, 2022   45 posts
Aug 19, 2022 at 04:20
A proper knowledge is very important in Forex trading. At the end, knowledge is the key to success and it helps solve problems in all aspects of life. A person can increase its knowledge by analyzing the market.

Member Since Aug 17, 2022   60 posts
Aug 19, 2022 at 04:22
In my opinion, the two most important factors in a trader's success are knowledge and experience. Forex traders require a strong understanding of the market and how it works in order to be successful.
Member Since Jul 28, 2022   11 posts
Aug 20, 2022 at 07:47
Knowledge is extremely important. Action without knowledge results in disaster.
Member Since Aug 17, 2022   39 posts
Aug 20, 2022 at 08:45
Knowledge is the basic essential tool not just for trading but in every aspect, if you start trading without having proper knowledge then you can't expect the positive returns. Trading without knowledge is like you are trading with the intentions of losing more than winning.
Member Since Sep 15, 2022   11 posts
Sep 16, 2022 at 04:56
Through Forex education, newbies can get an exact idea about trading. It allows traders to develop and learn trading terminology, demo accounts, time frames, and trading software, which is an exceptionally important part when trading in the forex market.
Member Since Sep 14, 2022   40 posts
Sep 17, 2022 at 07:24
The only thing that can beat knowledge in forex trading is actually knowing what we are doing, just by watching the rates drop or rise, we can't be able to predict forex trading, there is a lot more to study and discover in order to succeed.
Member Since Jun 26, 2020   327 posts
Sep 17, 2022 at 10:34
yes , agree with you . no way to avoid . success is a short time issue i think including failure.
Member Since Feb 15, 2022   219 posts
Sep 17, 2022 at 16:59

But traders can hardly survive here as they don’t know the right ways of swimming. It causes them to fail ultimately. So, make learning your first priority and then trade.
Member Since Sep 14, 2022   40 posts
Sep 19, 2022 at 11:42
Knowledge will take you to the places where even your hard work won't, so we should never stop learning in any aspect. And for trading we should be updated about all the market news and trends which will help us to perform better in live trading.
Member Since Jul 26, 2022   49 posts
Sep 19, 2022 at 12:35
When it comes to trading knowledge plays a very essential role as you cannot trade and predict the market without proper knowledge and analysis. For that, you need to study daily market changes.
Member Since Feb 15, 2022   183 posts
Sep 20, 2022 at 05:55
Preparation of trading is important because Forex is not a game. Traders nurture a habit of jumping onto trading directly without any strategy which is not auspicious for them at all.
Member Since Apr 18, 2022   51 posts
Sep 20, 2022 at 06:40
I think you cannot advance as a trader unless you understand how to analyse a market and make right trading decisions. If a trader lack trading knowledge, he/she cannot place the good trades and expect to win. Traders can only understand how to manage the right trades and cover risk with proper forex knowledge.
Member Since Feb 15, 2022   219 posts
Sep 28, 2022 at 14:24

If your losses enfeeble you, you can’t survive in Forex for long. Proper mindset of trading is required, otherwise traders will have to suffer losses.
Member Since Sep 29, 2022   71 posts
Sep 29, 2022 at 09:11
In any field, knowledge without practice is of no value.
BUT! If you don't get knowledge, you run the risk of being stupid. It is very important from childhood to acquire knowledge from all possible areas. And then choose one and become the best in it.
Member Since Sep 15, 2022   36 posts
Sep 29, 2022 at 12:24
MovingCamper posted:
Becoming knowledgeable is one thing but being wise enough to apply that knowledge in real time trading is what determines our success as a trader. So, we must focus on both aspects in order to become truly successful as a forex trader.
Indeed right! Application of knowledge to the work is extremely important rather than just owing it.
Member Since Feb 16, 2022   67 posts
Sep 29, 2022 at 14:41
When traders are in consistent losses, Forex becomes a burden to them. But, if traders trade in Forex using less risk, things are not like this to traders.
Member Since Feb 16, 2022   119 posts
Oct 01, 2022 at 15:20
Staying motivated is such a quality that drives a man ahead and it is true to the bone for a trader. Being on the right track in Forex is difficult but not impossible.
Member Since Feb 15, 2022   183 posts
Oct 03, 2022 at 08:33
Then increasing the equity further becomes tough for a trader. So, those who are inflicted with the issue should fix it as soon as possible.
Member Since Sep 06, 2022   26 posts
Oct 03, 2022 at 09:18
The importance of knowledge in forex trading is that it allows traders to better understand the market and make better trades. This knowledge can be used to improve a trader's ability to predict trends, identify opportunities, and make informed decisions.
Member Since Sep 14, 2022   40 posts
Oct 13, 2022 at 12:19
We can become knowledgeable, but our success as traders is determined by our ability to apply that knowledge to real-time trading. So, we must focus on both aspects in order to become truly successful as a forex trader.
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