Aug 18 2022 at 10:12
Ambersmith345 posted:
Trading knowledge and a trading plan is paramount to having a successful trading journey. It is important to understand that trading education will never be over and that there will always be new concepts to study, strategies to develop, and skills to master.
Yes, to be a successful trader one should track the daily chart patterns and broad economic issues that influence financial markets.
Knowledge is everything in trading. Without knowledge, there is only failure in forex trading. We cannot depend on others or copy them to trade. We have to focus on our own game and trade, for which knowledge is absolutely essential. Moreover, it doesn’t make sense to trade without knowledge when there is so much information available on the market these days.
Aug 19 2022 at 04:06
there is a importance to gain knowledge but only knowledge is not enough to survive here successfully , need a powerful money management besides this.
A proper knowledge is very important in Forex trading. At the end, knowledge is the key to success and it helps solve problems in all aspects of life. A person can increase its knowledge by analyzing the market.
Aug 19 2022 at 04:22
In my opinion, the two most important factors in a trader's success are knowledge and experience. Forex traders require a strong understanding of the market and how it works in order to be successful.
Aug 20 2022 at 07:47
Knowledge is extremely important. Action without knowledge results in disaster.
Aug 20 2022 at 08:45
Knowledge is the basic essential tool not just for trading but in every aspect, if you start trading without having proper knowledge then you can't expect the positive returns. Trading without knowledge is like you are trading with the intentions of losing more than winning.
Through Forex education, newbies can get an exact idea about trading. It allows traders to develop and learn trading terminology, demo accounts, time frames, and trading software, which is an exceptionally important part when trading in the forex market.
Sep 17 2022 at 07:19
Knowledge plays a very important role in every work you perform. There is no point in trading if you don't have the proper knowledge. To gain knowledge new beginners can learn and understand their basic Forex terms, trade on a demo account, and can work on the daily market study.
The only thing that can beat knowledge in forex trading is actually knowing what we are doing, just by watching the rates drop or rise, we can't be able to predict forex trading, there is a lot more to study and discover in order to succeed.
Sep 17 2022 at 10:34
yes , agree with you . no way to avoid . success is a short time issue i think including failure.
Sep 17 2022 at 16:59
But traders can hardly survive here as they don’t know the right ways of swimming. It causes them to fail ultimately. So, make learning your first priority and then trade.
Knowledge will take you to the places where even your hard work won't, so we should never stop learning in any aspect. And for trading we should be updated about all the market news and trends which will help us to perform better in live trading.
Sep 19 2022 at 12:35
When it comes to trading knowledge plays a very essential role as you cannot trade and predict the market without proper knowledge and analysis. For that, you need to study daily market changes.
Sep 20 2022 at 05:55
Preparation of trading is important because Forex is not a game. Traders nurture a habit of jumping onto trading directly without any strategy which is not auspicious for them at all.
I think you cannot advance as a trader unless you understand how to analyse a market and make right trading decisions. If a trader lack trading knowledge, he/she cannot place the good trades and expect to win. Traders can only understand how to manage the right trades and cover risk with proper forex knowledge.
Sep 28 2022 at 14:24
If your losses enfeeble you, you can’t survive in Forex for long. Proper mindset of trading is required, otherwise traders will have to suffer losses.
In any field, knowledge without practice is of no value.
BUT! If you don't get knowledge, you run the risk of being stupid. It is very important from childhood to acquire knowledge from all possible areas. And then choose one and become the best in it.
BUT! If you don't get knowledge, you run the risk of being stupid. It is very important from childhood to acquire knowledge from all possible areas. And then choose one and become the best in it.
MovingCamper posted:Indeed right! Application of knowledge to the work is extremely important rather than just owing it.
Becoming knowledgeable is one thing but being wise enough to apply that knowledge in real time trading is what determines our success as a trader. So, we must focus on both aspects in order to become truly successful as a forex trader.
