Acquiring knowledge is basic

I would make a clarification.
The relevance and reliability of information is also important. Learn from the best, communicate with traders who have achieved a stable result.
Read the basics of trading, but don't read 'The Strategy That Will Make You Rich After One Trading Day'. Most likely there is nothing to read.
Study other traders' trading to understand their specifics and feel free to ask questions, that costs nothing

LesleyLesley posted:
I would make a clarification.
The relevance and reliability of information is also important. Learn from the best, communicate with traders who have achieved a stable result.
Read the basics of trading, but don't read 'The Strategy That Will Make You Rich After One Trading Day'. Most likely there is nothing to read.
Study other traders' trading to understand their specifics and feel free to ask questions, that costs nothing

Yeah buddy. I have also read this book and it's not that helpful.
I used to watch youtube videos of traders showing their trades and strategies. This has helped me in formulating my own strategy by learning the basis of other traders' strategies.

knowledge acquiring is important but it can be useless if you dont have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

knowledge can only be acquired by practising or being in touch with the market on daily basis.

AndrewMcCalam54 posted:
knowledge acquiring is important but it can be useless if you dont have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

I believe both the things are important. Having a genuine broker by your side enhances and leads to better results however, a good broker is nothing if you lack trading updates

Yes you need knowledge but you also need other aspects for successful trading such as risk management, money management and psychological training to keep your emotions at bay.

Forex trading is a simple and easy way of earning. If you want to achieve success in forex you must gain some knowledge and experience in forex. Always do hard work and never hesitate to learn new things about forex trading.

You should also be good at putting your knowledge into practice and understanding how it works in a given situation.

VictorAxel posted:
Without a good knowledge base, there's no fun is trading actually. We have to try to gather information at every phase if we want to succeed as a trader.

Actually there is no fun in trading with limited knowledge, always expand your knowledge base in trading, try to learn new things, you will definitely get success in trading.

Maximum traders in Forex like to trade with high leverage for making profit instantly. But traders who make profit consistency , I don’t think they use high leverage. They way I see it. High leverage gives us the benefits not to worry about margin requirements and one less thing to focus on. Abusing leverage can be costly for traders.

Tradelist45 posted:
Maximum traders in Forex like to trade with high leverage for making profit instantly. But traders who make profit consistency , I don’t think they use high leverage. They way I see it. High leverage gives us the benefits not to worry about margin requirements and one less thing to focus on. Abusing leverage can be costly for traders.

I think high leverage can put you in great danger if you don't have proper knowledge.

CocoChannel posted:

LesleyLesley posted:
I would make a clarification.
The relevance and reliability of information is also important. Learn from the best, communicate with traders who have achieved a stable result.
Read the basics of trading, but don't read 'The Strategy That Will Make You Rich After One Trading Day'. Most likely there is nothing to read.
Study other traders' trading to understand their specifics and feel free to ask questions, that costs nothing

Yeah buddy. I have also read this book and it's not that helpful.
I used to watch youtube videos of traders showing their trades and strategies. This has helped me in formulating my own strategy by learning the basis of other traders' strategies.

Yes, it's good that you remembered the youtube content. It is really much easier to receive information there, while there are many bloggers who make it easy to explain complex concepts.

Williamfreed posted:
Forex trading is a simple and easy way of earning. If you want to achieve success in forex you must gain some knowledge and experience in forex. Always do hard work and never hesitate to learn new things about forex trading.

Good point, you have to make a profit on forex trading education. If knowledge and skills cannot be developed, it will be difficult to make a profit.

@croisssan In forex trading knowledge is very important. But it is also important to have the ability to implement the knowledge one has.

@Akasuki Yes knowledge becomes effective or powerful when it is applied properly. Without proper use of knowledge, making money in trading is not possible.

@croisssan Yes demo account is important to get familiar with basic trading ideas. Demo is also helpful to test different strategy to find out the winning percentage.

There are a lot of new terminology in the forex field that you have not met before, and without understanding them it will be difficult to trade.

Knowledge is one thing but being able to apply that knowledge is crucial as it would be with something like medicine. And just like a career like medicine, it doesn't come without time.

that is true but I think that practical experience is more important with forex. Learn the basics then sit at the charts every day following markets, observing and that will teach you how it really works