Is it possible to earn in forex without knowledge?

[maxlvg]

How can you swim, without learning to actually swim? To successfully trade forex, traders should learn and understand the market, gain appropriate trading skills and develop trading psychology.

 

[CarmeloGiroux]

You can accomplish it, but you won't be able to make consistent earnings.

Forex is simple but not easy; becoming a successful trader requires a great deal of information and expertise. If you begin trading w/o sufficient knowledge, you are more likely to lose money. Therefore, I recommend that you first learn and understand forex before beginning to trade with a small amount of money. Once you have sufficient knowledge and confidence in your abilities, you can trade with a larger amount.

Agreed! Trading without knowledge is like shooting an arrow in darkness. Traders should take enough time for learning and understanding the basics of forex trading. He should not hurry and start trading recklessly.

 

[Anneke57]

Beginner's luck, that can happen, else it is difficult to start without having any knowledge when it comes to forex trading or anything in general

 

[FXOpen Trader]

Beginner's luck, that can happen, else it is difficult to start without having any knowledge when it comes to forex trading or anything in general

I can say that we have to do hard work and not believe in luck in doing our trading

 

[Blinker]

No, it is impossible to earn in forex in the long term without having adequate knowledge as forex trading is not a game of luck. It requires analysis and strategizing for magnifying profits and minimising losses.

 

[David Marco]

It’s never possible to earn fromForex without learning. But, the matter is different for those who copy others. Free online learning resources are available that a trader can follow to develop himself. Traders should learn trading step by step.

 

[Whichsoever]

The forex market is one of the most volatile trading markets with high liquidity. It is very risky to trade without proper knowledge about the market.

 

[Lelia Erdman]

Well, I think that you may earn a little bit some time without knowledge, just by guessing. But most of the time you will face loss. Because you don't have any idea when to trade. so I think it is better to trade only when you have knowledge of forex and have a good strategy that works for you.

 

[omegastuff]

Earning money in forex trading without any knowledge??? Just not possible. Even beginner's luck won't do that for you.

 

[Perforate]

How can a child run without learning to walk?
Learning about forex plays the same role as learning to walk plays in a child’s life.
Without learning a child will fall and get hurt physically but in the case of trader, he will lose all his money.

 

[Manscape]

No, it’s not possible to earn a profit in forex trading without knowledge of the latest market happenings and how that will affect the charts.
Unless you are extremely lucky and have fairy dust with you, you can’t win in forex trading, you will end up losing all your capital.

 

[beanpole]

Well, yes. If you are copy trading some other professional trader on any social trading platforms like Zulutrade or etoro etc then you don’t need any knowledge to earn money. You can rely on their expertise for profits. However, copy trading doesn’t mean that you can just sit and see the money rolling in your account. Both the profitable and losing trades get copied on to your account.

 

[Hughie Lane]

It isn't, most of the time all you’ll see when you trade is loss. That’s it. This is because you’ll be essentially gambling in the market. That's a deadly thing to do.

 

[Nayek Pichai]

No, education is the first and foremost priority for a trader. There are so many paid courses a trader can follow to develop his basic, but I would recommend them use free online resources. Because online resources for learning us available now. So, if a trader wants to earn more, he must focus on learning.

 

[Xenophilia]

You may win a few trades out of luck without knowledge. But to keep making profits, you will have to obtain basic forex knowledge. You cannot move ahead without knowing what is right and what must be avoided.

 

[fxgeek]

Trading forex without knowledge is like jumping into the ocean without swimming lessons. Never do this mistake.

 

[heispark]

Trading without knowledge is pure gambling so for better strategy and planning, knowledge is necessary.

 

[agatanapolitani]

There is no chance to make money in forex without knowledge. Along with the basic knowledge, you must also practice everything on a demo account. You must practise your strategy several times so that when you live trade, you know what to do.

 

[turophile]

Imagine forex is a swimming pool and you jump into it but you don’t know how to swim. You either end up drowning or seriously injured. The same scenario will happen when you enter the forex market without any prior knowledge, not only will you lose your money but you may also end up being the victim of a scam.

 

[FXOpen Trader]

Imagine forex is a swimming pool and you jump into it but you don’t know how to swim. You either end up drowning or seriously injured. The same scenario will happen when you enter the forex market without any prior knowledge, not only will you lose your money but you may also end up being the victim of a scam.

Learning foreign exchange trading is not going to be easy for us.