Is it possible to earn in forex without knowledge?

[Smash Fun]

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.

To copy someone else's idea also need some knowledge of this work. Copy paste or following some other traders is not going to earn you money if you do not know how to use their analysis in your trading.

 

[mang_ncep]

We may earn from forex without knowledge, for example using EA, but of course the result will not be maximal, because the robot is no more flexible than humans. With forex knowledge, the high risk of forex can be minimized, and we even can get additional income from bonuses offered by brokers, such as bonus Earn 6% Extra Interest from FXB Trading, and attractive bonuses from other brokers.

 

[Lee Mark]

Without knowledge, sudden profit is possible! But, it’s quite impossible to make regular money without proper trading knowledge! I have 5 years’ experience of trading but I am making money from the 3rd month of 2015.

 

[William]

You can make money without any knowledge. Given you've got sharp logical thinking and you can make technical analysis only with quote history and without indicators. But this is realy rare, I'd even say its an exception to the rule.

 

[trauton]

It's impossible to make money in forex without any knowledge but you shouldn't spend all of your time reading either.

 

[Changer]

It's almost impossible to make money out of forex without any knowledge. I'd say that the profit in forex depends directly on your knowledge.

 

[Kwasi]

You absolutely need to acquire knowledge before trade. You need to learn how forex works, and how to interprete price action before you seven consider enter market.And you also need to understand how the market behaves the way it does.

 

[Irina]

We are based on traders who have success because they were able to get money from forex trading because it has trading skill, and that means they are trading with a wide range of knowledge that has adequate

 

[The trader]

for earning knowledge, Demo works really if anyone using this trading place after finishing preschool level. but beginners lost interest after passing sometime. That’s why it is more important to take micro account instead of demo.

 

[Smash Fun]

But copying someone else's strategy or trade does not mean you are going to make a profit from it. To implement it with the trading work also need some knowledge and skills for it.

 

[Smash Fun]

The fundamental aspect of the market is extremely complex and it can take years to master them. If you understand them you are set up for long-term success as this is where currency direction comes from.

 

[Gerald Davydov]

To copy someone else's idea also need some knowledge of this work. Copy paste or following some other traders is not going to earn you money if you do not know how to use their analysis in your trading.

No it's not possible. Can you ride a bicycle without learning how to ride it? It is also like that. You have to know how to do it. Without skills you will lose your money. Even to find a good PAMM manager, you need good knowledge about trading and broker. Otherwise you would fall in trap and lose all your money.

 

[Smash Fun]

It is not easy to select a good PAMM Manager even for the experienced investor. While searching for a perfect Manager you should pay attention to Experience, Quality of trading system.

 

[Svetlana Loboda]

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?

Nowadays, there have so many alternative ways like Copy trading; PAMM. But till now I believe; it’s an education based profession! So, without own trading skill success is not possible in this field!

 

[sininfinity]

Nowadays, there have so many alternative ways like Copy trading; PAMM. But till now I believe; it’s an education based profession! So, without own trading skill success is not possible in this field!

Even if you are an investor then you will need to develop some kind of strategy to invest in others. There are many ways a trader can make profit but which ones to choose among is a difficult decision.

 

[Richards]

I can definitely say 'no'. You can have a good luck just a couple of times, that's all. But if you're planning to earn on it then you'd have to learn it scrupulously.

 

[William]

I can't even imagine how to do it. Because if there isn't such knowledge, it won't even be possible to understand what you're doing on this market, there is only surface knowledge- there will be constant losses, that will quickly dissappoint.

 

[Tom Latham]

Personally you can’t make money here without enough knowledge! But, you can take automatic service as like PAMM. Although it’s very risky to depend on others.

 

[Smash Fun]

You need to first understand how Forex works. Learn basic technical analysis including candle stick patterns, indicators, support and resistance etc. Most importantly, learn about risk management.

 

[MarvelPole]

Knowledge is the first requirement for the best traders. Everybody becomes a trader but only few of them have the capability to become a successful trader. The reason behind their success is the only one that they have full knowledge about the market. They also know when and how to trade on the forex market.