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How Much Knowledge Do We Need?

I wouldn't ask this question. The more you know the more you earn. In this kind of business, its all dependent upon your knowledge so do not ask how much but rather how much more can you learn. If you don't know much, its like trading blindly so make sure you're not trading blindly. You must continue to keep up with news and learn as much as possible as days go by if you want an extra advantage in the market.

As per my opinion, knowledge does matter but more important is the ability to introspect and rectify one's mistakes. A trader who is not willing to refine himself will never make even an iota of profit in the long run. The mistakes will continue to get repeated thereby resulting in losses which wipe down the account. Thus, I would knowledge only as a must have criteria behind strategy and discipline. Without proper strategy and discipline no amount of knowledge can lead a trader to success.
 
Learning is essential but it is critical that you can identify which things are important and should be used and which are useless and should be ignored. Otherwise you will be swamped with information.
 
At least, we should know how to point out market trend, point out whether the movement is retracement or reversal, and point out good entry level. When traders observe the market during practice, they’ll have chance to have basic knowledge to enabling them conduct proper analysis.
 
A newbie still trading in the Demo account might still have the need to know when it would be right for to switch but I think the time would be based on the level of knowledge he has already. When I first tried the real account, I needed no vision to realize I was on the wrong track because I lost the whole capital within few hours.
 
Were don't need any particular knowledge. That is t say that knowledge is endless. We will be able to learn every day by day that we are trading in here in the forex market. No knowledge is a waste and we should learn everything that we can in forex trading.
 
It will better as trader having good knowledge all about inst and outs of forex business because sometime news and also big issue that occur on the world also can increasing volume transaction any currency, like as war between north korea with US might can influenced on commodity or jpy currency and usd
 
A newbie still trading in the Demo account might still have the need to know when it would be right for to switch but I think the time would be based on the level of knowledge he has already. When I first tried the real account, I needed no vision to realize I was on the wrong track because I lost the whole capital within few hours.

That’s very common! A number of new Forex traders start their trading career with a loss! Same here, I also crashed my 1st trading capital within the 1st week of my trading! By the way, learning is a long time process, till now I am learning and improving my trading skill.
 
That’s very common! A number of new Forex traders start their trading career with a loss! Same here, I also crashed my 1st trading capital within the 1st week of my trading! By the way, learning is a long time process, till now I am learning and improving my trading skill.
So many trader at first time trading career will facing margin call, some trader they facing margin call many times and already forget how many account crashed and margin call account, but with experience usually trader will learn better and not again facing margin call or if still losss but still low risk in trading because almost reason trader fail and mc is because greedy
 
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.


Yes, experience is very much important! Now, I am not doing the same mistake because of my long time trading experience! By the way, I think traders need deeper knowledge on technical and fundamental analysis for being a successful Forex trader!
 
Learning is essential but it is critical that you can identify which things are important and should be used and which are useless and should be ignored. Otherwise you will be swamped with information.

Well said. There is no shortage of information on the internet and we should filter those which are not important for us and use those which we think is good for us. That way we can make more good trading decisions.
 
If it's for a regular trader, then it's enough. But if you want to develop, then you need to constantly acquire new knowledge.
 
If it's for a regular trader, then it's enough. But if you want to develop, then you need to constantly acquire new knowledge.

I don’t think so! Because, learning is an endless process! Did you even notice any pro trader? You may see, they are till now serious on their practice session although they are making money! That’s the real fact.
 
I don't know if we understand each other correctly. I meant that in order to trade in the profit you don't have to know everything, it's enough to have a certain amount of knowledge in order to start trading. But if you want to write analytics, for example, you'll need deeper knowledge in this area.
 
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. :)

No, basic is not enough here. That’s way, more than 90% traders are losing money here since, they start their live trading after completing only basic. Forex is a smart profession, so no shortcut way of success is available here.
 
Knowledge becomes effective only when we could apply it correctly. Execution is vital. Many people can not execute their knowledge because of lack of plans and discipline.
 
Actually, I really do believe that, when you recognize or acknowledge your weakness, then you will be a much better trader. In my trading life I was not able to earn profit frequently due to lacking trading ability and it is my leading weakness.
 
Forex trading requires a lot of education. Although I am a professional trader, I need to get an education. If I can't update myself, I can't gain good profit by trading.
 
There is no end to education so it is real that education should be acquired before death. But I have to practice a lot to get a trading education. Keep yourself updated.
 

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