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Money and skills

MasterMove
Sep 16 2021 at 09:59
24 Posts
marindateal posted:
When it comes to forex trading, both money and skills are necessary. Without money, you cannot start trading in the forex market. As a matter of fact, you cannot trade anywhere if you don’t have capital money. And when talking about skills, you can’t perform trading effectively if you don’t have good skills in strategizing or trading as a whole.

I agree with you, both money and skills are equally important in forex trading, skills are important to make your trading effective and money should be invested at the right place and at right time.

skihav
Sep 16 2021 at 17:19
513 Posts
In general, the ability to behave correctly with money is extremely important. It is very useful for a trader, and it will not hurt for ordinary people.

Unellene
Sep 17 2021 at 11:03
283 Posts
in fact, there is a direct dependence of your skills and making a profit

Thetafyn
Sep 21 2021 at 20:35
17 Posts
Money and skills are of utmost importance for a trader to be successful on the market. If you don't have the skills, you are sure to lose the money, if you have the skills but don't have the money (ot have very small sum) you will hardly earn anything. One more thing which is important is psychology. I wouldn't call it a skill because it is more like a mindset. It influences this way: a person who knows how to trade perfectly well and they also have enough money to earn some decent profits but he is prone to be affected by his emotions which will definetely lead him to the absolute loss. So, psychological factor shouldn't be underestimated.

AliaDare
Sep 22 2021 at 01:10
764 Posts
Of course, these two are very important in the Forex market. Without which trading cannot be done. It is possible to make a profit in trading if you have money and skills.

Auginn
Sep 22 2021 at 16:21
7 Posts
Skills and knowledge are important, but why don't acquire them during analysing some trading strategies. I mean that, perhaps, it is a good way to learn forex by trying to implement and understand different trading strategies. Some of them don't work and some of them work pretty well. And if you analyse the reasons for their failures or success, you can learn much. Surely, just mocking those strategies will never give you any knowledge or understanding and if there is some unordinary financial situation, you'll be at a loss and lose your money.

Suradi (FXOday)
Sep 23 2021 at 00:34
203 Posts
Trading need money and skill, if the trader has money but not skills, actually they still can make effort with investing in PAMM project, looking prospect fund manager and invest then waiting fund manager working, this is a good way to invest, but of course, the trader needs to understand, previous performance may be changes at any time, the risk always involved in forex.

LukeRachel
Sep 23 2021 at 02:00
453 Posts
Sarjohn posted:
LukeRachel posted:
You need money to trade and you need skills to make a profit. So it is not possible to trade without any of them.

Yes, without money and skills forex trading is a waste of time.

That's right, trading is never possible without money and skills. And when I can manage these things, I have to work with patience.

jakes90
Sep 23 2021 at 05:16
28 Posts
Auginn posted:
Skills and knowledge are important, but why don't acquire them during analysing some trading strategies. I mean that, perhaps, it is a good way to learn forex by trying to implement and understand different trading strategies. Some of them don't work and some of them work pretty well. And if you analyse the reasons for their failures or success, you can learn much. Surely, just mocking those strategies will never give you any knowledge or understanding and if there is some unordinary financial situation, you'll be at a loss and lose your money.

Absolutely true buddy!

Terentius (Siomo)
Sep 24 2021 at 09:28
19 Posts
Investing in training does not always mean investing money. It is also an investment of time. So, the more time you spend on self-development, the less time you will spend on achieving your best result.

pigeontrader
Sep 24 2021 at 11:24
9 Posts
So true. Learning is more about time than money. You need time to learn the material and then time to implement what you have learned.

LukeRachel
Oct 05 2021 at 01:38
453 Posts
pigeontrader posted:
So true. Learning is more about time than money. You need time to learn the material and then time to implement what you have learned.

Money and education are very important for trading. A trader can gain success through this.

SteveHanks
Jan 07 at 06:45
530 Posts
LukeRachel posted:
pigeontrader posted:
So true. Learning is more about time than money. You need time to learn the material and then time to implement what you have learned.

Money and education are very important for trading. A trader can gain success through this.

Yes. To become successful in this market, you need proper knowledge and education.

LukeRachel
Jan 08 at 02:21
453 Posts
SteveHanks posted:
LukeRachel posted:
pigeontrader posted:
So true. Learning is more about time than money. You need time to learn the material and then time to implement what you have learned.

Money and education are very important for trading. A trader can gain success through this.

Yes. To become successful in this market, you need proper knowledge and education.

To be successful in any subject, you need to know the whole thing. Otherwise it is not possible to make money from there.

HeavenLeighGill (HeavLeighGill26)
Jan 10 at 15:38
150 Posts
I feel like a lot of beginners want to skip over the beginning steps, like practicing on demo, putting effort into their education and go straight to live trading with consistent profits. Sadly, there are a lot of steps in between that you can't just skip over or else it just isn't going to work out.

skihav
Jan 10 at 17:48
513 Posts
By the way, this is usually related to each other. An experienced trader usually has money.

PeteLanceley
Jan 11 at 13:46
62 Posts
UweMoench posted:
Money and skills are the requirements for forex trading. Most people ignore skills. They don't study, they do not do any research. What they do is collect some ready-made strategies and check them on demo. By doing so they think they have learned. Trading is not that easy. Invest your time in learning (for newbie).

You can have all the money in the world, if you can't trade or don't have a strategy - you will lose money. So trade demo until confident.

skihav
Jan 11 at 14:39
513 Posts
It should be said that both of these indicators are essentially interrelated. If you have experience, then there will be profit from work.

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