How Much Knowledge Do We Need?

[jackcm]

I don't know exactly how much, but the most you train and trade in forex, the more knowledge you will get aside from experience, also your confidence will be grow slowly. And if we want to define how much is it then we should feel it by ourselves, but the more capital you have it means they more knowledge you should have.

I think if you want to know, there is solution: trading for one or two years and after that, see your portfolio (profits, losses, especially drawdown), you'll know if you are good trader. If not, that portfolio will tell what you lack and it'll depend on you to find way to improve yourself.

 

[Cutiekc]

Tthere are no limited amount of knowledge needed for someone to be a successful trader because in forex trading it just works prior to the knowledge that one has. So therefore if you have more knowledge then it means that you will be attaining more profits and if you have less knowledge, less profits will be coming your way.

 

[hasan87]

Actually there is no limitation of knowledge. To earn profit from Forex market, knowledge about Forex is essential for everybody. The newbies who want to enter in Forex market should have adequate knowledge about Forex. Without having proper knowledge no one can get success in Forex business.

 

[Daisy]

Actually there is no limitation of knowledge. To earn profit from Forex market, knowledge about Forex is essential for everybody. The newbies who want to enter in Forex market should have adequate knowledge about Forex. Without having proper knowledge no one can get success in Forex business.

The market changes daily, weekly, monthly, and annually, so there is always something new for us to keep up to. If we don't keep up to news, we will be missing out. I mean news are different daily and it change the way you trade and the pairs rate significantly daily so we need to learn until we quit trading. If you don't keep up with news then you're in the deep red.

 

[amit.neogi]

I know that knowledge is such an integral part of becoming a successful trader. But how much knowledge do we need? IS basic knowledge about forex literature already enough? Is knowledge from demo practice will do? Or both sources of knowledge is important? give me your opinions so that we can enlighten the beginners.

I think that knowledge is the must weapon for forex or any trading sector but at first you need be more carefull and aware about the market news and also i think before trading you need to calculate a technical analysis chart

 

[amit.neogi]

I know that knowledge is such an integral part of becoming a successful trader.but such a sucessfull trader will know about the technical,and strategical calculating process

 

[amit.neogi]

But to an extent the learning stage changes in the sense that when we must have becomed more advance things we learn changes. And that is different strategies because when we must have learnt how to trade because of the market invariably changes we need to also adjust our strategies from time to time. Thats the essence of learning without limits.

I am 100% agree with you at first we should be more advance things to learn changes and we also aware about technical strategies.

 

[amit.neogi]

I think that there is no limit of knowledge. Everyday we are learning something about many things. In case of Forex trading knowledge is very important. Without having enough knowledge a trader will not be success in Forex market.

Absolutely knowledge has no fund or limit and also forex trading knowledge is not a matter of joke or not easy learning.First have to be patients and need to more aware and concentrate to learn it

 

[amit.neogi]

Well, if we just know enough about Forex then we must not jump into the marker right away. Just know enough is more dangerous than know nothing because "know enough" just increase our confident, not mean that we can make money.

For me, I always keep in mind that I am newbies and there have much thing that I need to learn. I always search around the net for new thing and that's why I am here. I found this forum on Google and interest with how it's develop.

yahh you are absoloutely right am agree with you that just know enough is more dangerous than know nothing good comments

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Friends we should have proper knowledge in order to enter trading field,check out first for 3-4 genuine companies then look out every company's features.After analyzing go for trade under company which have smart features!!

please refer some genuine company name which is the best in the market because am a newbie thats why want to know about it properly

 

[amit.neogi]

Learning in forex never really ends because there's always a better way to do things and as we are human we sometimes need to re-instil the knowledge to keep us on track to seeing consistent profits. There is no need to stop the learning process when you get to the real account because you wont improve your knowledge and skills as a result.

Then what should i do to learn the primary level of forex trading how i will aware about it where i will get the information about it?

 

[amit.neogi]

Forex trading does involve continuous learning indeed which is why the knowledge and skills will always increase as we go along the way. It is never ending so we cannot rightly say the amount of knowledge that is needed in order to become good traders because there is always room for improvement.

How to improve the level of experience of forex trading where we have to follow the informations

 

[Daisy]

I wouldn't ask this question. The more you know the more you earn. In this kind of business, its all dependent upon your knowledge so do not ask how much but rather how much more can you learn. If you don't know much, its like trading blindly so make sure you're not trading blindly. You must continue to keep up with news and learn as much as possible as days go by if you want an extra advantage in the market.

 

[riddick09]

The knowledge we will need is to have our trading strategy and skills. But then, it's not about how much because, when we trade in the market we both gain experience and knowledge that will be continuous. It's about the basic knowledge only we are acquiring here but in the actual trading.

 

[Daisy]

I say when you can teach someone how to make money then you're good to go. If you know and can teach another newbie then you have a lot going on for you. I can teach another how to make profit so I can say that I'm confident in my ability to make profit from forex. If you considered yourself a pro or a guru then its even better. Forex is totally dependent on brain work and sweat equity.

 

[budado]

If we can make profit then its a good start. But I do advice that we continue trading. I do advice that in two to three years time we try to grow our account. I now have 12 active trading account and my main goal is that each account has at least 1,000 dollars trading capital and cashout 1,000 dollars if its reaches 2,000 dollars.

 

[Decub]

I wouldn't ask this question. The more you know the more you earn. In this kind of business, its all dependent upon your knowledge so do not ask how much but rather how much more can you learn. If you don't know much, its like trading blindly so make sure you're not trading blindly. You must continue to keep up with news and learn as much as possible as days go by if you want an extra advantage in the market.

Knowledge in life is endless, even at the point when you think you have arrived, only then will you discover that you still have a very long way to go in terms of acquiring more and more of the knowledge. Guess the TS wanted to know how much knowledge someone needs in a Demo account before coming over to the real account which I think should be decided by the trader himself.

 

[willy]

according to what you talking about knowledge the basics of forex is not enough to start trading with real account because we need to know the technical analysis and who can we predict the price with support and resistance and we need to know how to trade without making our emotions making control on us

 

[gkintl]

I wouldn't ask this question. The more you know the more you earn. In this kind of business, its all dependent upon your knowledge so do not ask how much but rather how much more can you learn. If you don't know much, its like trading blindly so make sure you're not trading blindly. You must continue to keep up with news and learn as much as possible as days go by if you want an extra advantage in the market.

As per my opinion, knowledge does matter but more important is the ability to introspect and rectify one's mistakes. A trader who is not willing to refine himself will never make even an iota of profit in the long run. The mistakes will continue to get repeated thereby resulting in losses which wipe down the account. Thus, I would knowledge only as a must have criteria behind strategy and discipline. Without proper strategy and discipline no amount of knowledge can lead a trader to success.

 

[Tim Rice]

Learning is essential but it is critical that you can identify which things are important and should be used and which are useless and should be ignored. Otherwise you will be swamped with information.

 

[kasual]

At least, we should know how to point out market trend, point out whether the movement is retracement or reversal, and point out good entry level. When traders observe the market during practice, they’ll have chance to have basic knowledge to enabling them conduct proper analysis.