• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

You need to learn

Beginners are most often concerned about earning money without enough learning. Their desperation about earning money quickly is what makes them lose in the forex market. They do not understand that forex is all about learning and practice, and they start trading without putting enough effort into learning and practice. No one can trade successfully without enough learning.
 
Strategy is generally made using several indicators and personally, I prefer using RSI, stokistics, moving average and Bollinger bands. In Forex, trading.
 
Knowledge shows you the way through the ins and outs of the forex market. It makes you well versed with the market conditions so that you can build your plans and trade accordingly. Consider learning a new thing every day to prepare yourself for every possible situation.
 
Knowledge gives you the power to keep your trading career on track. You don’t find an easy way of making money. You have to pave your own way and follow it strictly. Distractions equal to losses. So, better be careful.
 
Simply thinking about forex like some ‘money-making machine’ is the height of folly. No one can make money in the forex market without knowledge and learning. Learning without interest is another problem that leads to failure. Interest makes one dive deep into the forex market. Once a person has learned enough, a person is eligible to trade in the forex market. The forex market is risky. Therefore, knowledge is important to trade to control those risks and make money.
 
Knowledge is of utmost value when it comes to forex trading. You see, forex is not gambling that you can solely rely upon your luck and do nothing. Forex trading requires a lot of knowledge, understanding, research, and analytical skills to process the information available, and make it of use by inputting them into useful strategies.
 
Just because no one will stop you from trading, it doesn’t mean that you can start trading without knowledge. I mean how you think you will be able to place trades or use certain market functions without knowledge. Such steps will obviously take you to losses.
 
Beginners are most often concerned about earning money without enough learning. Their desperation about earning money quickly is what makes them lose in the forex market. They do not understand that forex is all about learning and practice, and they start trading without putting enough effort into learning and practice. No one can trade successfully without enough learning.
Indeed! The problem with beginners is that they haven’t put in the efforts yet and they expect to see the results. How can you expect results without testing strategies? We all need to get your basics straight if we care about making money in the forex market.
 
I couldn’t agree more. Most beginners jump into live trading without being educated enough. Many beginners do not even know how to read charts and candlestick patterns, they just gamble and predict. This is not the right way. You must learn and properly trade in order to be successful. If you are not satisfied with something in your trade, actively research and find ways to improve yourself.
 
No matter how boring learning seems to you, if you want to become a trader, you must be ready to learn and become a capable trader. Knowledge, skills, strategies and understanding matter when you have long term success in your mind.
 
  • Like
Reactions: zoe
No matter how boring learning seems to you, if you want to become a trader, you must be ready to learn and become a capable trader. Knowledge, skills, strategies and understanding matter when you have long term success in your mind.
I like this reply, you don't have to like learning you just need to do it. It is something you must do to succeed in trading the market, you can't afford to do otherwise.
 
Top