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Yeah we should lots of knowledge about forex. A little knowledge is dangerous because it can make us confident even though we still have lots to learn before we would need to go to the live trading. So I just hope that I would get me knowledge soon.
Its the difference between a winning trader and a losing trader so you would have to know all that there is to know about forex. You must also continuing your education daily or keeping up to news as they do change the market significantly. You will make more or less and it will all depends on how much knowledge you have accumulated. In forex, its impossible to make money without proper knowledge, experiences and updating yourself on news.
Well, you're partly right about lack of patience to acquire knowledge but I think it's rather not having ability to do that. I've just realized that famous investors spent years on training in university and many years in gain experience.A big reason behind failure or losses is lack of patience to acquire this knowledge before trying trade. Naturally, a new trader is always moved to try out his capabilities in the real account and there are times their first trial becomes successful. They feel the half baked knowledge they have gotten is good enough to lead them through.
In Forex, the shortcut to lose your money is by trading without knowledge. The slightest of it could pose possible threat to your investment and make you lose more than you bargained. The complex nature of it makes it such that not just everyone can come into it. Knowledge is just about everything we need in the business.Knowledge is not just important in forex trading but it is very crucial because without knowledge we won't be able to attain anything. Most of the losser out there have been lossing all because of the never valued getting the knowledge first, knowledge will make our capital more secured.