How Much Knowledge Do We Need?

[Decub]

knowledge is always evolving but for a trader there a knowledge that must be achieve first before start trading forex, that is analysis knowledge which consists of two knowledge technical analysis and fundamental analysus knowledge.. prepare with these knowledge will help trader in their trades

I think I like that fact you mentioned that knowledge is always evolving. Sometimes we discover that the things we used to know about a particular subject suddenly becomes outdated. Same is applicable to Forex. If anyone thinks he has arrived and should stop acquiring knowledge, then he will be rest assured that in no distant time, his knowledge becomes a waste to the current way of doing things.

 

[sindarin]

there are no certain amount of known in request before one can start up trading. The more we trade the more the knowledge and skills increase and so as the profits we make also increases.

not knowledge but experience with experience we can increase our skills, and with better skills there will be more chance in forex to make profit, and how much knowledge that we will get is depend on us, first know some basic when you learn about forex and then keep trade to increase experience.

 

[Cutiekc]

Well, beingg more expriened and knowledge in forex trading is a gradual thing that is been done here. We will need to be consistent on our practice, more especially being more active on the demo account because that is were we can practice without putting the real money on the line. Further more there are no limit of exact amout of knowledge that is said to be enough.

 

[Decub]

I started trading forex with nothing to know about analysis the price ... Etc. What i knew is a friend of mine told me how to make an order. He taught me to watch the price rises and falls and then to predict . And it worked. I made a smash 50 pips . But lator i started to lose even though the indicators installed in my metatrader. I didnt reach that smash again. So think about my story and comment.

What you didn't say is if you had to quit because of those losses. That not withstanding, in your case, you friend thought you how to order and most probably, you thought you may have arrived and needn't bother yourself a lot because it worked and that is where the thread starters question comes in. If you had made moves to know by learning why the loss came the second time, you may have gotten some little strategy to predict in subsequent ones.

 

[Angelic]

not knowledge but experience with experience we can increase our skills, and with better skills there will be more chance in forex to make profit, and how much knowledge that we will get is depend on us, first know some basic when you learn about forex and then keep trade to increase experience.

But I thnk the knowledge and exprience works hand to hand. However the knowledge always comes first then the exprience follows with the help of the demo account. When one lasks knowledge he hardly gets exprienced.

 

[Decub]

But I thnk the knowledge and exprience works hand to hand. However the knowledge always comes first then the exprience follows with the help of the demo account. When one lasks knowledge he hardly gets exprienced.

That's correct, they are just inter-related because without knowledge, you can't have the experience and without experience in Forex, then your knowledge cannot take you beyond where you are.

Also, we keep on acquiring knowledge and endless experience in a bid to gain more skills which is the major requirement to excel in Forex.

 

[Angelic]

That's correct, they are just inter-related because without knowledge, you can't have the experience and without experience in Forex, then your knowledge cannot take you beyond where you are.

Also, we keep on acquiring knowledge and endless experience in a bid to gain more skills which is the major requirement to excel in Forex.

Although I have learnt that there is no certain amount of knowledge or expreinced needed for someone before they can start trading, I think The more exprience one has the more money that comes in. Knowledge in forex trading is unlimited due to forex trading displays differently daily.

 

[Decub]

Although I have learnt that there is no certain amount of knowledge or expreinced needed for someone before they can start trading, I think The more exprience one has the more money that comes in. Knowledge in forex trading is unlimited due to forex trading displays differently daily.

Yes, there is no rule pegging the duration of learning or amount of knowledge before going into trade (one can only advice a certain duration) but the potential trader should know within himself if he is able to take up the challenge of trading. Knowledge is just a more generalized form while experience is knowledge thus gathered (it could be over a period of time or vastly from different aspects, while some times people associate it with practicals)

 

[Angelic]

Yes, there is no rule pegging the duration of learning or amount of knowledge before going into trade (one can only advice a certain duration) but the potential trader should know within himself if he is able to take up the challenge of trading. Knowledge is just a more generalized form while experience is knowledge thus gathered (it could be over a period of time or vastly from different aspects, while some times people associate it with practicals)

However I think the knowledge limit will be needed on the demo account(before one will ever decide trading on the real account, he or she should be sure of a certain amount of knowledge).

 

[naninov]

maybe the most effective way of learning not to wasting much time i think we must focusing on topic that related with trading strategy we going to use for trading, doing it so will bring more fast result than studying all, and after mastering it we can just searching other knowledge to complete our skill

 

[Daisy]

You need to learn more than what you should know in order to do better. Knowledge will set you free. the more you know the better your chances of winning. Its just like knowing as much about a particular game in gambling. How can you win if you don't even know the basic rules? the one who win is the one who knows lots and have lots of experiences and have greater analytic skills than other and that's how he win.

 

[Decub]

maybe the most effective way of learning not to wasting much time i think we must focusing on topic that related with trading strategy we going to use for trading, doing it so will bring more fast result than studying all, and after mastering it we can just searching other knowledge to complete our skill

Now, there is one thing about specializing in trading strategy. You become a strategist if I must use that word, most times, it is the strategy to analyze the market and make the profit and I doubt if it will teach you not to immediately go into trade when you lose. I think that Forex has a lot to do with some degree of psychology and control of emotions.

 

[naninov]

Now, there is one thing about specializing in trading strategy. You become a strategist if I must use that word, most times, it is the strategy to analyze the market and make the profit and I doubt if it will teach you not to immediately go into trade when you lose. I think that Forex has a lot to do with some degree of psychology and control of emotions.

i think forex world already change now where technologies solved the psychology and emotions problems, if i may say that we must thank to the forex technology called expert advisor or robot trading, i did pesimistic about robot trading system before, but i know now i was wrong... robot trading is adapted from any real trading strategy habit of traders, so it really help solving psychology and emotion problems

 

[barood4money]

There is no such word 'enough' in the dictionary of learning. There is no end of learning. There are many professionals who are still learning. Because learning helps to invent better strategies.

 

[Cutiekc]

i think forex world already change now where technologies solved the psychology and emotions problems, if i may say that we must thank to the forex technology called expert advisor or robot trading, i did pesimistic about robot trading system before, but i know now i was wrong... robot trading is adapted from any real trading strategy habit of traders, so it really help solving psychology and emotion problems

I dont think that it already solved the emotional problems because there are still in exitence in the sense that when you are about setting your robot to trade for you if you are that emotional trader you will follow your emotions rather than your logical way of reasoning. Furthermore there are no amount of knowledge specificaly needed because the more we know the more easier it becomes.

 

[barood4money]

There is no end of learning and sharing knowledge. There are many people in this forum who has different experiences. We can learn new strategies from them.

 

[riddick09]

The knowledge we can have from the start is at least we know the terms commonly used, our own strategy on how we will use it in our trading. While, we can have knowledge continuously and I don't think we will stop learning while we are trading in the market.

 

[barood4money]

There is no end of learning. And there is no end of lessons. We can learn for whole life while trading. Because whenever we trade, we get to learn something new.

 

[Decub]

There might be other businesses one can get to a point and say they have at least attained a degree where one could say they've got much knowledge but for Forex, you never can get it all, the more you learn, the more you discover you haven't had enough of that you should have.

 

[Cutiekc]

There are no certian required amount of knowledge needed in forex trading because the knowledge procured the more better a forex trader will do. So therfore. We will need to acquire more knowledge as we trade. Also I think a consistent trader will however attain knowledge every time he or she trades.