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.
Forex trading requires a whole arsenal of tools and skills. To get started, you need a computer and internet. It is important to choose a broker and trading instrument for which you have the best knowledge. It is important to constantly self-develop. Learn self-control. Develop your trading system and stick to it.
I guess you are implying that formulaes and calculation that are used in forex trading, which is useful but rather has very importance since the platform has already in built calculator that allows you to see profit or loss in each trade.
reggae posted: I guess you are implying that formulaes and calculation that are used in forex trading, which is useful but rather has very importance since the platform has already in built calculator that allows you to see profit or loss in each trade.
You could consider the basic mathematics, that is, addition and subtraction which basically apply in forex trading, no?
For money management and especially in risk magement, Math is really important and necessary. If you want to manage your money and long&term risk to obtain long&short term success, Math & Stat should be best friend for you and your system, I think.
Yes, basic math is important if you enter in trading because traders need research and analytical skills to monitor economic factors and chart patterns that impact financial markets. Math & Statistics can be your best friend for efficient trading.
Due to small balance I always have to depend on scalping that brings profit in a short time. But it causes a great loss sometimes, because within short it’s really difficult to predict the market with certainly. So I think long term trading is too much safe and sounds.
Getting a good education about Forex is very necessary and important. If you have good knowledge about trading forex you can be a successful trader. There are many places are available on the internet where you can get good learning material and can start your forex career after getting good knowledge.
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