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  1. #1
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    Aug 2020
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    75

    How knowledge is important in forex?

    Traders need proper knowledge to become successful in forex market. New traders often jump into real trading without proper knowledge and end up losing everything. So, trader have to gain knowledge first and practice it in demo account. There are lot of learning site in the market. However, I prefer my broker free educational courses.

  2. #2
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    As for me, knowledge should never be ignored at all. I believe that for a trader this is generally a key element. Without knowledge, it is very difficult to get at least a minimal positive result.

  3. #3
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    Quote Originally Posted by malopis View Post
    As for me, knowledge should never be ignored at all. I believe that for a trader this is generally a key element. Without knowledge, it is very difficult to get at least a minimal positive result.
    Forex trading is type of business that depends on the knowledge of the traders and how much they are able to use it in doing their trades. If we want to get profits from our trading we will need to increase our knowledge skills.

  4. #4
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    Jul 2020
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    Without knowledge in this industry, you should not even try to work. As for me, most often this option will lead to not the most pleasant results in the form of a loss.

  5. #5
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    I believe that without knowledge in this industry it is really difficult to get the necessary result. When I started working with a broker from Amarkets, I received knowledge precisely on the demo account of this broker.

  6. #6
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    Jan 2020
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    257
    For scalping low spread is good. While choosing the scalping broker scalpers should choose the low spread broker as it helps to earn small money in a short time. But all the brokers don’t allow low spread in their platform. Tpglobalfx is a true STP trading broker who allow lowest trading spread from only 0.01 pips, with instant market execution system so as a scalper now I am earning good sum of money in a shorten period.

  7. #7
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    Aug 2020
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    157
    Knowledge comes first. Experience comes from knowledge. Experience is not trading for many years. You will find many traders who are trading for many years yet unsuccessful. The reason is all these years they focused on profit not skills development. If half of the time they spent on knowledge and experiment, things would have been different. I do trade at Eurotrader broker. It is a guideline broker with adequate liquidity. It in like manner gives ultra low spreads of 0.0 pip. And the minimum deposit of the broker is $50.

  8. #8
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    It should be understood that knowledge plays a very important role in this area. As for me, this is generally one of the key indicators for work, without which it is almost impossible to achieve success.

  9. #9
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    Quote Originally Posted by malopis View Post
    It should be understood that knowledge plays a very important role in this area. As for me, this is generally one of the key indicators for work, without which it is almost impossible to achieve success.
    We need to understand that if our knowledge about the Forex markets is correct then we can easily make income from this business and become Better Traders

  10. #10
    Join Date
    Sep 2014
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    297
    Quote Originally Posted by FXOpen Trader View Post
    We need to understand that if our knowledge about the Forex markets is correct then we can easily make income from this business and become Better Traders
    Of course, what a trader should be able to do is learn and try well to help a trader's planning become more mastered and achieve everything at FreshForex broker with managing trader's abilities.

  11. #11
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    From experience, I can say that without knowledge in this industry it is generally unrealistic to achieve any results. When I started working, I worked with a demo broker account from Amarkets to gain knowledge.

  12. #12
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    Jan 2017
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    991
    Generally, novice traders should start from basic level! According to my personal experience, BabyPips School is a good place for start with! Besides, new traders need to open a demo for practicing purpose! Demo is the most decent way of Forex learning.

  13. #13
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    I believe that knowledge plays a key role in this industry. When I started working with a broker from Amarkets, I received knowledge on the demo account of Amarkets.

  14. #14
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    I believe that knowledge is the most powerful argument in a trader's work. At least, during my work in this industry, I have been convinced of this far more than once.

  15. #15
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    Jan 2021
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    117
    Knowledge is indeed very important in trading. It is the first step to becoming a profitable trader, it's something that we cannot skip. Knowledge is power, as they say.

  16. #16
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    Jan 2021
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    381
    training and knowledge in forex is our everything, because you need to understand absolutely everything, starting with what the broker himself offers you, and ending with how you robot and by what principle

  17. #17
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    Jun 2020
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    205
    You have to believe in yourself and trade. Most traders start trading without a test of patience. They should trade with patience. Trading in compliance with proper risk and money management. New traders are more likely to lose from Forex. Because their mindset is very low. They want to earn a lot of money in a few days. Most traders lose because of their risk-reward, money management, a trading plan is nothing good. I am a trader of Forex4you. They are very supportive and helpful

  18. #18
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    Quote Originally Posted by Lewis Flabian View Post
    You have to believe in yourself and trade. Most traders start trading without a test of patience. They should trade with patience. Trading in compliance with proper risk and money management. New traders are more likely to lose from Forex. Because their mindset is very low. They want to earn a lot of money in a few days. Most traders lose because of their risk-reward, money management, a trading plan is nothing good. I am a trader of Forex4you. They are very supportive and helpful
    We need to do a lot of hard work in doing our trades so that we are able to get the required profits on time from forex trading.

  19. #19
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    Jan 2021
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    381
    and how can knowledge be ineffective in any occupation? this is one of the most important aspects in any business, on which your success and result will depend

  20. #20
    To say that it is difficult to trade in the Forex market without certain knowledge is not to say anything, it is just a waste of your time and your funds.

  21. #21
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    Apr 2016
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    603
    Education is the most significant factor if you wish to sustain in the forex market. Without proper knowledge of how the forex market operates, you will end up squandering money.

  22. #22
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    Jan 2017
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    991
    The traders who are particularly newcomers always exciting about bonus offer. But the bonuses we get from our trading brokers practically cannot use at all due to margin stop outs. Thatís why I am not willing to trade with any kinds of bonus offer. And now I am comfortable with LQDFX which always ensures superior execution for trading, security of funds at any kinds of investments, lowest trading spreads, low transaction cost and much more that are very supportive to lead a comfortable trading life with certainly.

  23. #23
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    May 2020
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    Without knowledge in this industry, it is almost impossible to get the desired result, and it is worth understanding this. Otherwise, it will be quite difficult for a trader to get the desired work result.

  24. #24
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    Quote Originally Posted by malopis View Post
    Without knowledge in this industry, it is almost impossible to get the desired result, and it is worth understanding this. Otherwise, it will be quite difficult for a trader to get the desired work result.
    We need to make our efforts and also increase the skills in the business so that we are able to easily understand them and make the profits from our trading business.

  25. #25
    Join Date
    Jun 2015
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    332
    I never really believe that a broker should help us with education part, as there are many other sources for it, but it’s great if they have it. I am lucky enough to have just that with FreshForex which got education system which really helps us working out with things which are necessary.

  26. #26
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    Apr 2017
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    714
    If you want to start trading in the forex market then you should prepare yourself first. You will face a lot of things that will make you discourage but you have to keep faith in yourself. If you have strong knowledge and you keep faith in yourself you can earn a lot of profits. No one can make you stop. I always keep faith in myself. My broker TP Global FX helps me a lot. Their endless supports always make me pleased. They are very supportive and helpful.

  27. #27
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    Jul 2020
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    I believe that this is one of the key elements of success. It is worth realizing that it is only thanks to the knowledge that the trader makes decisions.

  28. #28
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    It is worth realizing that without knowledge, a trader simply cannot earn. This is really a key element of success, which plays a very important role.

  29. #29
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    Jul 2020
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    Bze knowledge can not even try to work in this industry, because the trader simply will not be able to realize itself, and in the end will simply lose all the money.

  30. #30
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    Quote Originally Posted by dayzzz View Post
    Bze knowledge can not even try to work in this industry, because the trader simply will not be able to realize itself, and in the end will simply lose all the money.
    If we will start to increase our knowledge about this business then our income will also increase and make us better Forex traders.

  31. #31
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    Jan 2021
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    this moment in the work of a trader is one of the most important, because all your success and profit from transactions will depend on your understanding of the work itself

  32. #32
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    Quote Originally Posted by Diedriarekh View Post
    this moment in the work of a trader is one of the most important, because all your success and profit from transactions will depend on your understanding of the work itself
    In the business of Forex trading a trader needs to use such kind of Trading skills that will help him in understanding about the markets in a proper way.

  33. #33
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    Jul 2020
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    Knowledge plays a very important role in the trader's work. It should be understood that without knowledge, it is simply impossible for a trader to profit from trading.

  34. #34
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    Quote Originally Posted by dayzzz View Post
    Knowledge plays a very important role in the trader's work. It should be understood that without knowledge, it is simply impossible for a trader to profit from trading.
    We must try to increase the trading skills and also understand that if we are using a Good Trading system then our profits will also be more to us.

  35. #35
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    Knowledge plays a really important role. To get the necessary amount of experience, I worked on a demo account with a broker Amarkets, and was able to get a pretty good experience.

  36. #36
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    Quote Originally Posted by malopis View Post
    Knowledge plays a really important role. To get the necessary amount of experience, I worked on a demo account with a broker Amarkets, and was able to get a pretty good experience.
    We can easily learn doing our trading with the help of the DEMO trading accounts. Also we have to understand the risks and try to minimize them Effectively.

  37. #37
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    Jan 2021
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    381
    knowledge in forex is too important for a trader's work, because here misunderstanding only leads to the loss of money, so learn more

  38. #38
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    Quote Originally Posted by Diedriarekh View Post
    knowledge in forex is too important for a trader's work, because here misunderstanding only leads to the loss of money, so learn more
    We will have to understand that Trading Skills are very important for us and we will need to develop them so that we can become a Successful Trader

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