Basics knowledge is not enough

Dec 27, 2020 at 07:07
Przeglądane 2,433
46 Replies
Uczestnik z Dec 28, 2020   187 postów
Feb 09, 2021 at 08:42
For making consistent profit only basic knowledge is not enough, for becoming a successful and professional trader, you need to know how to do fundamental and technical analysis as well.

Uczestnik z Nov 05, 2020   54 postów
Feb 12, 2021 at 06:05 (edytowane Feb 12, 2021 at 06:07)
Yes
Uczestnik z Apr 09, 2019   538 postów
Nov 11, 2021 at 11:53
It is exactly the same in other professions that are difficult to master. I can have a basic understanding of medicine but that doesn't make me a great surgeon. Only adding in hours of practice will help there. Same for any skill based vocation. People don't want to learn, and more so don't want to commit to the time it takes to practice and study.
If you can't spot the liquidity then you are the liquidity.
Uczestnik z Nov 02, 2021   73 postów
Nov 15, 2021 at 07:58
A trader should be up to date with the current news events. He should know when he has to sell or when he should buy using his strategies and tactics.
Uczestnik z Dec 09, 2013   139 postów
Nov 15, 2021 at 16:34
UweMoench posted:
Only basics are not enough for consistent profit. Forex is a professional work that requires specific knowledge and skills. That's the reason very few people are successful here. Most people treat forex like gambling. They do random trading. They do not have well defined trading system.
It needs hard work, hours of study and dedication to learn forex trading. Basic things are never enough to deal things professionally. However, it starts with basic though. A trader must learn the basic and with time, he must learn advanced things as far as forex trading is concerned.
Uczestnik z Aug 05, 2021   401 postów
Nov 16, 2021 at 15:02
It takes a lot to become consistently profitable as a forex trader. I think a lot of aspiring traders just want to put in little effort and get rich quick, but that never works. If it were a regular job, we would expect to work for the money but for some reason trading isn't taken as seriously. Perhaps it's because we can sit at home in our pajamas or have a flexible schedule so it feels less like a real job.
Uczestnik z Feb 12, 2019   105 postów
Nov 18, 2021 at 11:39
You have to backtest your strategy and make sure your strategy has a proven edge .
Keep learning keep refining markets evolve and so sgould your trading
Uczestnik z May 01, 2021   11 postów
Nov 19, 2021 at 15:26
yes basic knowledge is not enough beside acquiring good knowledge and experience it is more appropriate to trade in demo as practice account.
Uczestnik z Jul 19, 2020   788 postów
Nov 20, 2021 at 01:14
More time should have been invested in trading to do business. Profits can be made with little knowledge, but it is difficult to keep that profit in mind. So if you want to develop knowledge in trading, you need to invest time.
Uczestnik z Mar 28, 2021   617 postów
Nov 20, 2021 at 07:22
Yes basic knowledge of trading is not enough to make money from forex marekt. It needs extensive knowledge, skills and experience to be successful. For this one needs to spend time on learning.
Uczestnik z Nov 20, 2021   19 postów
Nov 20, 2021 at 07:57
Hey, I am new to this forum, but a bit oldy in forex.

Agreed! forex needs extensive knowledge I spent a year on demo before going live.
Uczestnik z Nov 02, 2020   36 postów
Nov 20, 2021 at 08:12
Yes, basic knowledge will not be beneficial if you do not consider opening an account with any forex broker. Being able to trade in demo will give you an experience on how trading would seems like in live trading, except that there is no real money.
Uczestnik z Mar 17, 2021   536 postów
Nov 21, 2021 at 18:55
skihav posted:
It is very important to get some basic knowledge before starting to work on a real account. When I started working with a broker, I used a demo account for this.
Yes. Proper knowledge is very important.
Uczestnik z Jan 22, 2021   125 postów
Nov 22, 2021 at 11:25
Basic is what according to you? If Basic to you is what is forex or how is pip calculated then definitely candles are advance to you. See these as steps of learning .. nothing is advance here. With the time you will understand each aspect and this is how you can progress.
Uczestnik z Nov 02, 2021   7 postów
Nov 22, 2021 at 12:51
basic is MM following
Uczestnik z Jul 19, 2020   751 postów
Nov 28, 2021 at 15:17
Yes for trading only basic understanding of the trading is not enough. One needs a deep understanding of the market. Without that it's not possible to survive in the market.
Uczestnik z Aug 10, 2021   178 postów
Nov 29, 2021 at 02:21
Traders need to know their risk on money that can be lost. Trading effectively requires knowledge, of course, but without trading knowledge, you are gambling. You can learn about trading on the internet for free or purchase books.
Uczestnik z Aug 21, 2021   61 postów
Nov 29, 2021 at 11:20
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.
Uczestnik z Aug 26, 2020   78 postów
Nov 29, 2021 at 12:55
It must be remembered that the market is developing and you need to update your knowledge.
Uczestnik z Nov 03, 2021   53 postów
Nov 30, 2021 at 04:40
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.
You must be connected to Myfxbook in order to leave a comment
*Komercyjne wykorzystanie i spam są nieprawidłowe i mogą spowodować zamknięcie konta.
Wskazówka: opublikowanie adresu URL obrazu / YouTube automatycznie wstawi go do twojego postu!
Wskazówka: wpisz znak@, aby automatycznie wypełnić nazwę użytkownika uczestniczącego w tej dyskusji.