UweMoench posted: For being a good trader you do not need to be an expert in math. Basics knowledge of math will do the work. Learnt to read the market. Observe charts as much as possible. Do demo practice and apply what you are learning. Learn by doing experiments. Have a learning attitudes. You have to spend a lot of time in learning.
Actually, basic knowledge in math of course is required in trading in order to calculate possible profit and possible losses. Moreover you have to calculate how much money from your deposit you should use for one deal. In my opinion, math is important in your life, not in trading. For trading you need just basic knowledge as I said. Nevertheless, if you like math and you're fond of learning math you can also try to calculate the possibility of your win or lose. However, these methods would better not be used, because it's so silly to calculate. You will just provide yourself with negative emotions in case of unpleasant consequences.
It depends on your approach to trading. If you employ algorithms or sophisticated quantitative models, then I'm sure you'd need to understand a lot of high-level math.
Whether you make money is another question. You could be very gifted at math and still blow up your account if you ignore the fundamental financial or economic factors in the markets and fail to manage risk appropriately.
Yes, forex demands trades to be good with mathematical skills. However, it doesn’t mean you require knowledge of advanced maths. Knowledge of percentages is essential.
There are mathematical formulas traders need to be well equipped in handling, such as how to calculate leverage, pips, profits, and margins. Knowledge of descriptive statistics and probability is necessary too.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.