How Much Knowledge Do We Need?

[junaid1001]

Little knowledge is dangerous thing, Any trader who want to become successful in Forex trading should have to learn properly and also should have to practice on demo account in order to gain some experience.Then he/she will be able to earn some money from trading.

 

[Raleigh Lee]

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 never stop learning.

 

[nasim39]

no time limitation,I am also trading from more than one year and not making consistent profit but I am much improved now than I was before 1 year. The reason is that I have not been concentrating on market all the time and there were gaps in my trading.

 

[garryjohn258]

The simple answer to this question is that not a great deal of knowledge of how to trade is required to spread bet. Of course, if you have a basic understanding of how markets work and what makes price move up and down it is beneficial but the availability of high-quality information for new traders is plentiful and almost all of this is free

 

[Tirus]

Little knowledge is dangerous thing, Any trader who want to become successful in Forex trading should have to learn properly and also should have to practice on demo account in order to gain some experience.Then he/she will be able to earn some money from trading.

this is why its very important to make sure that one keeps on learning because this will get to improve on your trading skills in the process. The practical side of trading also helps with improving ones knowledge as well so its not only a matter learning materials that are going to improve your knowledge. Without much knowledge one cannot be successful with their trading.

 

[budado]

How much? Since when can we count knowledge? In forex trading our goal is to make profit then I guess we can say we need to have knowledge enough to make as sustain and maintain our trading account and make some money each month. Because success happens when we are making profit right?

 

[PROPENSITY100]

In my opinion learning never stops at Forex. However we can start trading once we become fit to trade. These trading fitness can be achieved by learning and gathering information about Forex and various trading strategies.

we can ascertain our fitness in Forex market by applying our knowledge and learning to a demo account. if we are making a good profit by executing our plans it indicates that we have made some nice progress towards learning Forex. Again we should not forget that trading in demo is not similar to trading with real money. So while ascertaining our fitness levels in Forex we should not trade blindly in demo account but trade in a planned fashion and apply our strategies there to know how well we understood Forex.

 

[monyitomon]

For me I wouldn't stop learning because in Forex trading learning never stops in here we should keep on becoming a better trader even we got enough confidence in here. It shouldn't stop in there because as long as we are trading there should be learning.

 

[Tirus]

In as much as it doesnt mean learning forex trading 24hrs without interruptions one needs to take the opportunity to learn whenever the possibility arises. Some learning occurs unconciously when we are trading or in discussions in forex communities. This knowledge will eventually translate into skills that will help you to realise profits because it needs to be applied into your trading.

 

[Cutiekc]

No amount of knowledge is enough,also we all learn on daily occassions so we learn new lessons after every trade,also trading everyday won't make us learn faster,we ought to have our trading time also knowing what kinda trader we are so that we will not be frustrated.

 

[rexway]

Our level of knowledge can not be determine in the hast what I really know here is that in forex trading what we ever need is just a simple thing and that is we must try to make sure that we have the knowledge to deal with the market properly this will help you understand all what its takes to survive as well.

 

[ryuken]

I think we need the knowldge based on our goals. For exmaple, we need goals that makes us money as per our goals. i mean think about it 50 bucks a day should be the goal for us most of the time and if we consider that there are not many things to assume for sure.

 

[usman khan]

i think you need make proper trader is needs some experience learning about Forex and use demo account about Forex he is very help full for you and he is make your good and proper trader.thanks

 

[ryuken]

I have found that most of the time people need the knowledge of the forex in order to make the profit. We have to considr that the knowledge that we are going to be giving should have some limits over a period of time. I mean to earn 100 bucks or more over a specific period we need consistency skills.

 

[rizal83]

there is no limit to have a good knowledge in forex trading because of the better knowledge we have, the better the advantage that we can generate, for which we should never be satisfied with the capabilities that we have because of the satisfaction it will make us lazy to learn and practice more so that we have the ability to be limited and we will not be able to make better profits from forex trading

 

[ryuken]

I think we have to consider that knowledge can lead to some of the things that are going to make us money so we can surely consider that those who are spending time and money on things like say skills are going to make money. for such people knowledge does make money for sure.

 

[Taha Nizam]

In my view studying never prevents at Currency trading. However we can start dealing once we become fit to trade. These dealing fitness can be carried out by studying and collecting information about Currency trading and various dealing techniques.

 

[Cutiekc]

There is no actual or certain amount of nowledge needed but we are advised to have a maximum knowledge before participating in forex trading,because without knowledge we will just be wasting our money in the market,so therefor we should acquire knowledge with the demo accounts.

 

[riddick09]

Actually, as long as we have basic knowledge and eagerness to continue on trading then, we will eventually have continuous learning or gain knowledge in Forex. There's no use of knowing of how much knowledge because, as per said we are not going to measure the knowledge but rather on our application of it in trading.

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Actually, as long as we have basic knowledge and eagerness to continue on trading then, we will eventually have continuous learning or gain knowledge in Forex. There's no use of knowing of how much knowledge because, as per said we are not going to measure the knowledge but rather on our application of it in trading.

 

[Taha Nizam]

In my view studying never prevents at Currency trading. However we can start dealing once we become fit to trade. These dealing fitness can be carried out by studying and collecting information about Currency trading and various dealing techniques.