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Money and skills

MasterMove
Sep 16 at 09:59
23 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 at 17:19
346 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 at 11:03
283 Posts
in fact, there is a direct dependence of your skills and making a profit

Thetafyn
Sep 21 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 at 01:10
676 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 at 16:21
5 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 at 00:34
168 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 at 02:00
374 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 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 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.

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