I believe that when you enter in the forex market, it is important to have basic knowledge but along with it you should be aware of how market works since the forex market is unpredictable.
It must be remembered that the market is developing and you need to update your knowledge.
Basics is not enough but it’s necessary to set a strong foundation for learning advanced trading concepts. No one can be profitable by taking a big leap forward and directly jumping onto bigger things. The best way to approach anything is by taking one step at a time.
Dec 01 2021 at 06:56
Indeed!Forex fundamentals are not difficult to grasp, but creating a trading strategy is. The market is well-known for its unprecedented and risky nature. In order to minimize risk in future trades, traders need to conduct proper technical and fundamental analysis, which comes with experience and time.
Dec 05 2021 at 19:51
You can trade in Forex without sufficient knowledge, but the price is that your trading account will be blown away.
Dec 06 2021 at 07:14
LyudmilLukanov posted:
You can trade in Forex without sufficient knowledge, but the price is that your trading account will be blown away.
Haha, true, only results will tell the amount of knowledge someone has.
Dec 06 2021 at 18:42
skihav posted:Totally agree with you. Most traders lose their money because of their low knowledge.
In fact, basic knowledge for a trader is a very important aspect. Without this, it is quite difficult to achieve a positive result.
Dec 07 2021 at 09:50
Why is basic knowledge not enough to trade live in forex and what are the requirements a trader requires before entering into live trading?
Dec 07 2021 at 14:58
I think that could of been worded better, as you can success with a basic strategy BUT you need to have the experience of handling losses, of handling winners and letting them run. Trust your risk management and confirming you have an edge. Some of these arent 'knowledge' per say but are vital in being successful
Dec 07 2021 at 16:21
yes experience is a type of knowledge but not something you can learn in books, it must be earned through time spent
@romanholiday Experience is very important when ot comes to trading. Experience comes from knowledge and skills. It's a long term process.
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