Is it possible to earn in forex without knowledge?

[Bonyi]

Well I don't think it is possible for you to earn in forex without knowledge or experience. You must learn forex trading by studying forex educational materials on forex websites. You will also need to practice on demo for at most six months before you open a live account to trade. Knowledge and experience is important in forex trading.
What is your opinion?

 

[barood4money]

Well I think that you may earn little bit sometime without knowledge, just by guessing. But most of the time you will face loss. Because you don't have any idea when to trade.

 

[gkintl]

At least some amount of knowledge is required to make profit in the forex market. Only with knowledge a trader can develop a successful strategy. As long as experience is concerned, it is a must for any trader. Without experience, it is almost impossible to earn in the forex market, irrespective of how intelligent or smart a trader is. Subtle nuances of price movement can be understood only through experience. It would make us learn the impact of support and resistance levels very clearly.

 

[emmanuel95]

Yes someone cam make profit from forex without knowledge by guessing but i think that depends on luck and there is a bigger chance of loosing all your money that way so i think it better to trade only when you have knowledge in forex and have good strategy which works for you.

 

[Daisy]

Yes, you can and this is called blind trading or gambling. I mean people gamble everyday right so I don't see why there are no gambler in forex. You can also copy trade at Etoro or Zulu. You might make profit that way. If you have no knowledge and want to make money you can try such an act. I like copy trading though cause other have made money with it so why not. I will learn though but I know how to trade effectively so this question is not for me.

 

[Decub]

Though true but I still feel it will be much more difficult to have someone who is an entire novice trade in Forex. As I think, it will be much more difficult for him to understand the market and how it works, to understand the chart or even place an order. To do this, his must have had some degree of knowledge.

 

[hasan87]

I don't think it is possible. We all know that Forex is very good source of earning a huge amount of money within very short time. But to do so a trade need some qualities. Proper knowledge is very much needed for getting success in Forex business. Without having any proper knowledge in Forex business, no one can make money from this business.

 

[Daisy]

Well, people can earn with copy trading or pamm, and they don't have to have knowledge so there are way to earn without having knowledge right. Those are called copy trading on zulu or etoro and such. You can earn that way if you find forex distasteful to learn. While its advised that you know as much as you can and trade for yourself. Its easy to be more profitable that way.

 

[Decub]

Sure the copy trading is now a way some who may not be all that interested in learning how to trade or mostly have the time to analyze can still trade. Nonetheless, one would say they are trading with another person's knowledge and skills. Copy trading is now on the increase as there are a lot of traders who are always keen on adopting this system of trading.

 

[budado]

Why trade without knowledge? Its still much better that we trade with knowledge. The more we make profit the more we can end up having good income as well. I do recommend that we spend more time trading in forex so lets just hope we can sustain and maintain our account in here.

 

[ryuken]

Not sure how many people do manage the forex trading without any knowledge. But the people who don't have the knowledge consider that they should be more focused and paying into the LiteForex. that is one way I think is possible for the people who have no idea.

 

[Decub]

It is the knowledge a trader has about Forex that makes him profit after all. Trading without knowledge is not just gambling Forex but an entire risk of what Forex can do. Rather than do such, it's much better when a trader partner with an experienced Forex trader and invest his money.

 

[Master Forex IB]

It will be just by chance that you can win some money without knowledge. In the long run this practice is not applicable. In forex we have to work with knowledge, skill, and patience. Without basic learning how a person become a good trader.

 

[rapto_cakep]

It's very possible guys. This world going more smart now..
You can invest in PAMM account in a broker. I've invest in PAMM of Liteforex broker. It's very recommended for you..
Gaining consistent is there...

 

[UMOFX AIR]

Knowledge is base for trading . That make no sense to join forex wothout knowledgwe if you really want to become a good trader. Without learning forex you will jut do gambling and may be in some trade you will win a good amount .

 

[willy]

i want to tell you something when i was newbie for three years ago i was trading without any knowledge and the result was loosing my account 5 times with 1000$ for each time which means loosing about 5000$ in just 6 months and then i was homeless

 

[Decub]

It's very possible guys. This world going more smart now..
You can invest in PAMM account in a broker. I've invest in PAMM of Liteforex broker. It's very recommended for you..
Gaining consistent is there...

Well, in PAMM, you are an investor and not a trader, maybe a copy system. Investing in PAMM is more like investing or buying stocks which you only earn dividends and not trade yourself. Maybe as a copy trader, the person can earn with another trader's knowledge.

 

[kaiceaziz]

Yeah, I do think it s quite possible cause I myself did 50$ profits as a newbie. But that doesnt mean good sign cause you will lose if you continue trading without knowledge as I lost the whole fifty bucks. If you dont believe just try trade a very next order and see how you will lose. It s changing market and volatility goes on and on.

 

[Pettyeve]

@kaiceaziz, forex will behave like that some times. Some of the newbie traders will earn money by luck and they will think that forex is easy, that money that they have made will go away in their next trade. That is why it is important that the traders should get the knowledge first and not have to depend on luck.

 

[Faal]

Directly it’s impossible but technical it’s possible! Such as, here you can make automatic money by following others good trader! Although it’s risky but till now possible! Knowledge is the power house, so without knowledge nothing is going to happen.