will i lose money if i don't have any knowledge?

[Ryan]

i am a newbie in forex trading business and i really dont have much idea and knowledge about how the forex trading busiess really works and how people trade and earn money from here.

but i want to be a good trader and want to earn from forex. can i still trade in forex without proper knowledge or it is necessary to learn first. and if i should have knowledge than what should i learn first and from where?

 

[Cutiekc]

Then I will advice you not to trade yet with the real account because you will be throwing your money into fire and watch it burn. Forex trading is not that business where you can by luck make money. You will need first to learn it theorically then practically before you move to the real account.

 

[Razor1911]

Then I will advice you not to trade yet with the real account because you will be throwing your money into fire and watch it burn. Forex trading is not that business where you can by luck make money. You will need first to learn it theorically then practically before you move to the real account.

Yes, if a trader does not have good knowledge then surely they will not be able to analyze the market well which will ultimately lead the traders to face huge losses. So it is very much important that every trader at first should trade on demo account and then learn from demo before starting to trade on real accounts.

 

[barood4money]

If you want to earn money from forex trading as trader then you have to know about the forex trading and its strategies. But there is the other way of earning also. If you have capital to invest then you can select a good broker and invest through them or by investment plans. Then you don't have to learn about it.

 

[Cutiekc]

Yes, if a trader does not have good knowledge then surely they will not be able to analyze the market well which will ultimately lead the traders to face huge losses. So it is very much important that every trader at first should trade on demo account and then learn from demo before starting to trade on real accounts.

Even when they know how to analyze the market, they might be analyzing it in such a way that will favor them. Even forex trading brokage service knews how crucial it is to learn and acquire knowledge thats why they all have the demo platform when their respective client will learn.

 

[barood4money]

To trade by own you have to know all the details about forex. Practice at demo trading will give same experience as trading at real account. It will help to learn making strategies.

 

[Decub]

Of course you will lose your money if you do not posses adequate knowledge about Forex and you go into it. But you can start with Demo after you must have gotten adequate theoretical to move over to the practical part.

 

[barood4money]

Not only that, while trading you have to stay focus or else your each movement can make you lose money. At demo trading you will not suffer as you don't have to invest money. But at real account it is totally vise versa.

 

[Decub]

I think any trader will always know the level of knowledge he has before attempting to trade in a real account. That said, one can also start with a cent account instead of the real dollar account to try his knowledge first.

 

[barood4money]

I think any trader will always know the level of knowledge he has before attempting to trade in a real account. That said, one can also start with a cent account instead of the real dollar account to try his knowledge first.

Most of the people thinks that forex is part of gambling and here you can earn unlimited instant cash. And they think because they don't have the basic idea about forex except buy at low price and sell when price increase. And because of this concepts that traders lose money.

 

[Decub]

In my neighborhood, there is this believe virtually everyone has and that is; if you have the money, you can trade Forex and if you are trading, you are automatically rich.

 

[barood4money]

In my neighborhood, there is this believe virtually everyone has and that is; if you have the money, you can trade Forex and if you are trading, you are automatically rich.

Actually in this world you will find different types of people. Different people think at different way. So it s not difficult to find some people who don't now anything, but they behave like they now everything. Such like your neighbors. I wish trading could that simple.

 

[anosocialnet]

As a newbie you don't need to start up trading real account, so you can earn. Because you will never make any profit; it's not a Hyip programs. So you need to study about forex trading business, trade on your demo accounts 2months or more to get some particular knowledge and skill too

 

[barood4money]

If you want to be a trader and want to treade at forex by own then you have to learn about forex. And it is not so easy. You have to dedicate your full concentration for few months for learning. And if you want to just earn money, invest your money through any brokers or investment plans.

 

[Cutiekc]

I think we will have to learn from other peoples mistakes as well because those who are unble to make money in forex trading are because they were not having the knowledge or they skipped some learning curve as they were learning, so therefore. Obviously knowledge is crucial if you dont want to lose.

 

[barood4money]

I think we will have to learn from other peoples mistakes as well because those who are unble to make money in forex trading are because they were not having the knowledge or they skipped some learning curve as they were learning, so therefore. Obviously knowledge is crucial if you dont want to lose.

Yes, it is true that knowledge is very very crucial. Not only at forex but also at every aspect. If you skip any point while learning, then it is obvious that there will be a chance of making mistakes at same point.

 

[Decub]

I think we will have to learn from other peoples mistakes as well because those who are unble to make money in forex trading are because they were not having the knowledge or they skipped some learning curve as they were learning, so therefore. Obviously knowledge is crucial if you dont want to lose.

Learning from people's mistakes is really a good way to excel in Forex, ome would ask what the reason has been that even when some should have learnt lessons from others, they still fall victim of those errors. This is because of that believe people have that others failed because they chose to fail and this is mainly cuased by this inadequate knowledge.

 

[barood4money]

Learning from people's mistakes is really a good way to excel in Forex, ome would ask what the reason has been that even when some should have learnt lessons from others, they still fall victim of those errors. This is because of that believe people have that others failed because they chose to fail and this is mainly cuased by this inadequate knowledge.

Yes, that is true. Many people believe that a person has made mistake because he had no knowledge about that thing. Buy maybe it can happen with us also. So I think we should be more careful while trading instead of making out someone's fault.

 

[Decub]

I simply can't even imagine someone going into Forex without adequate knowledge unless it is a partnership trading. The much we all know as being reported is that over 80% of traders ultimately fail so attempting it without ADEQUATE knowledge will only make you fall in between those 80%.

 

[ryuken]

I think knowledge plays a good role when it comes to more money and time for what you do in forex. It would be possible to understand more concepts and tips and traps that way. so you should consider about the forex this way. better not waste the resources like that by trading blindly.