How Much Knowledge Do We Need?

[PROPENSITY100]

If we continue on trading for sure, we will also keep on progressing our knowledge and experience. Both of it are important to traders that we have many benefits while we are trading but it does not mean that we will not have losses. Our knowledge are limitless and it can acquire knowledge during our trading.

A person who does not have sufficient knowledge and trading skills or who lacks control over greed cannot make any good use of any amount of capital. It would not take much time for such a person to lose a large capital.

However a knowledgeable and wise person can make productive use of even a small capital to make money in Forex.

 

[Markllee30]

Yes, Your are right “knowledge is such an integral part of becoming a successful trader” that’s key point. We can’t say that how much knowledge do we need, suggest to all keep continue. I am not getting this point “IS basic knowledge” please explain me. Demo account is best source where we can gain knowledge and practices. Yes, both sources of knowledge is important. I will suggest for beginner, keep learning with demo account

 

[eddiej]

I know that knowledge is such an integral part of becoming a successful trader. But how much knowledge do we need? IS basic knowledge about forex literature already enough? Is knowledge from demo practice will do? Or both sources of knowledge is important? give me your opinions so that we can enlighten the beginners.

You can't go wrong with learning. Learn from every resource you can, if you're already dedicating this much time in forex trading, more knowledge couldn't hurt right? Learn from anything and everything you can. It'll make you a better trader in the long run.

 

[riddick09]

Actually, just learn from the reliable sources, those that are credible and not just have purposely to promote something or you will just see that it's not that helpful or informative. We will save more time if we will going to ask from other traders either in the forums or in our friends who knows Forex trading.

 

[eddiej]

Not that much IMO, some people cram their heads with so much information that it makes them paranoid and it makes them bad at trading. You can never have too much information though, but don't overdo it, keep it simple and don't stress yourself.

 

[UMOFX IB]

We need much knowledge which can make efficient trades, It should enable a trader to do trading in real market with money management. So that he can not face at once loss. He will mange his trades according to the capital and market situation by selecting appropriate lot and profit target.

 

[riddick09]

For me, it's about now the basic knowledge and the most important is the experience. Because, you will gain also in experience the essential knowledge in Forex trading. And yet, we are traders so basically, we are in need of the hands-on or actual trading not by just keep on reading books.

 

[jackcm]

It is totally dependent of what you mean knowledge here. Knowledge doesn't mean that you tries to become good price actions traders (by watching closely at chart). Basically, knowledge is how market works. You ought to answer that question because it is knowledge.

 

[UMOFX IB]

yes knowledge is very vast . You have t see market movement , charts, trend, Your capital and margin to trade in market that involves much practice and knowledge. With good knowledge you can decide good about trading .it will help you to manage accounts properly .

 

[riddick09]

Well, that's correct that the knowledge is limitless. That's why there is no thing such as the perfection or able to learn everything about the market because, the knowledge continuously to grow and that we can learn while we trade in the market. Also, we will gain experience in the trading.

 

[Cutiekc]

No amount of knowledge is said to be the best and when we attain that we should stop learning. No! We learn on every trade we makes unless we fail to learn the knowledge acquisitating stops. There are mistakes we face from day to day trading. Those mistakes passes across good lesson to be learnt.

 

[kaiceaziz]

I started trading forex with nothing to know about analysis the price ... Etc. What i knew is a friend of mine told me how to make an order. He taught me to watch the price rises and falls and then to predict . And it worked. I made a smash 50 pips . But lator i started to lose even though the indicators installed in my metatrader. I didnt reach that smash again. So think about my story and comment.

 

[UMOFX IB]

Knowledge is base and power for trading . On base of knowledge we do trading practice , It make us expert in trading. With knowledge we do good analysis and find trend for profitable trading. Without knowledge it is not possible to live in this market for a long time.

 

[Cutiekc]

There are no certain amount of knolwedge in question and waiting tow get to a certain level before being able tp start trading will be sort of time wasting because knowledge increases as we exprience and markets mistake all together. Hence we've been able to make profits in the demo we can start with small investment with the real account.

 

[Decub]

The limit of knowledge required to succeed in life is endless, we keep acquiring knowledge as much as we can and from where ever we can as we might not know that which will eventually help us develop our own strategy.

 

[winuga]

Trading in forex market as a trader need good knowledge of technical analysis and fundamental analysis
those two analysis such as weapon before you go to war, perpare yourself by knowledge of analysis before start trading to get not killed easily in forex market

 

[riddick09]

That's correct that we will going to have both of type of analysis as well as to have sufficient knowledge about the market through our trading experience. While, we will not going to learn everything about Forex or to have complete knowledge what we can have is to be profitable in this business.

 

[Decub]

The amount or level of knowledge we need in Forex can be said to be limitless as we never stop learning. However, anyone learning Forex could be likened to someone that is studying a particular course of which it is expected that he or she graduates after a given period of time. That doesn't mean he has stopped learning but that he is believed to have gotten a fair understanding in his area of specialization.

 

[kaiceaziz]

The amount or level of knowledge we need in Forex can be said to be limitless as we never stop learning. However, anyone learning Forex could be likened to someone that is studying a particular course of which it is expected that he or she graduates after a given period of time. That doesn't mean he has stopped learning but that he is believed to have gotten a fair understanding in his area of specialization.

yeah you are right. I do believe that in future forex will be learned in university as independent course. I mean some can graduate in forex siences university forex for example. Although many people here in my country dont even know what forex word means, forex i think the most important thing in economy that is to say we must learn forex and good courses in forex must be released.

 

[budado]

We need to have enough knowledge to make us earn good amount of money. I do hope that in the long run I can eventually end up making one good income one after another. I'm really happy with the way things are for me. Eventually I know I can end up making one good income one after another in here.