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

[Decub]

You can say that again. It doesn't make any sense one wasting his time and precious investments by trading blindly and I would even say that this could be compared to newbies who wouldn't acquire adequate knowledge before starting up with real account all because they want to join those that parade huge income from Forex.

 

[Master Forex IB]

Obviously you loose your money , Here experienced traders also face loss , Try to get basic learning and practice so that you willface market with proper know how. Other wise you will play with your money that can be a great loss for you any time. How a person without knowledge can be a profitable trader.

 

[barood4money]

I think if we use common sense, it is clear that if you don't have any idea or knowledge about forex trading, then how will a newbie know where to start from and where to end. He will feel difficulty to use trading platform.

 

[Decub]

I think if we use common sense, it is clear that if you don't have any idea or knowledge about forex trading, then how will a newbie know where to start from and where to end. He will feel difficulty to use trading platform.

I think this is based on the non-traders believe that you do not need to kill yourself acquiring knowledge if you want to trade because no matter the level and degree of knowledge one has, failure seems to be inevitable. That is always the impression some have about Forex and they will think it doesn't really matter how much knowledge you have or whether you have any.

 

[barood4money]

I think this is based on the non-traders believe that you do not need to kill yourself acquiring knowledge if you want to trade because no matter the level and degree of knowledge one has, failure seems to be inevitable. That is always the impression some have about Forex and they will think it doesn't really matter how much knowledge you have or whether you have any.

Nobody needs degree or certificate to start trading. But every person needs knowledge about the particular thing to start with it. If you don't had any idea or knowledge about the forex trading, would you able to trade successfully.? Didin't you learn about forex trading.? Did you started trading from starting only.? Every question applies to the newbies also.

 

[Decub]

The question now is if they even asked themselves such questions. There are some that are just with very irrational mental attitude towards Forex. There is nothing wrong in someone believing he can learn Forex within days but what becomes the outcome thereafter. They can't just imagine staying for months trading in Demo account which has no virtual earning.

 

[Cutiekc]

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.

Well, as aa matter of fate, the demo account also has a little way of putting the wrong impression in us in the sense that, I can remember my new encounter with the demo account, I made instant profits by just guessing and looking at the EURUSD chart seeing it going up. So I opened an order and made profits with the volume of 1.14. But then I knew forex trading does not works that way and I needed to learn how not to trade on speculations.

 

[Decub]

Well, as aa matter of fate, the demo account also has a little way of putting the wrong impression in us in the sense that, I can remember my new encounter with the demo account, I made instant profits by just guessing and looking at the EURUSD chart seeing it going up. So I opened an order and made profits with the volume of 1.14. But then I knew forex trading does not works that way and I needed to learn how not to trade on speculations.

That was a mere coincidence and as some will say, it is a spirit that draws you closer to Forex so that it can take away your money but it doesn't work that way if you had tried doing it subsequently. Similar thing happened to me when I was still new in sports betting, I made up to 600% within 3 hours and thought it's easy to predict but lost the money the following week.

 

[Cutiekc]

That was a mere coincidence and as some will say, it is a spirit that draws you closer to Forex so that it can take away your money but it doesn't work that way if you had tried doing it subsequently. Similar thing happened to me when I was still new in sports betting, I made up to 600% within 3 hours and thought it's easy to predict but lost the money the following week.

Yeah, thats right and that was the reason why I had to learn, I didnt go ahead being confident and moving to the real account but I still learnt of which I can now trade on the real account profitably. Furthermore, I have also learnt that the trading plan is more important.

 

[barood4money]

I always tried to learn at starting because I had no idea about forex trading and I was very much nervous about it. As I saw my father losing lots of capital at trading. We were scammed through offline trading broker. So i didn't started trading until I was too much confident.

 

[ryuken]

If you don't have the knowledge then you are going to make some bad decisions. I personally think that some of the time you have to rely on what you can do better. I just don't think that most of the time, you would do much better if you take some time to have knowledge.

 

[barood4money]

If you don't have the knowledge then you are going to make some bad decisions. I personally think that some of the time you have to rely on what you can do better. I just don't think that most of the time, you would do much better if you take some time to have knowledge.

It happens on the situation basis. Mostly it happens at the result times. Your result depends on the work you have done. So while getting result you cannot do anything to change it. Knowledge is necessary while doing the work.

 

[kate beckinsale]

as every person has known that knowledge is wealth and without doing the proper work we cannot get success in the real life so to start any work we should have knowledge of it with completely

 

[kate beckinsale]

yes knowledge is wealth and if we donot gained it with proper and better way then we cannot get success in any way so to start the work of trading we should first do the practice in the trading demo account and after that we should start the work

 

[Decub]

If you don't have the knowledge then you are going to make some bad decisions. I personally think that some of the time you have to rely on what you can do better. I just don't think that most of the time, you would do much better if you take some time to have knowledge.

And that which the person can do better comes from that which he knows. I believe the knowledge will come only when the trader must have accepted that he is not knowledgeable enough in the said field, believes he cannot make it without that knowledge and goes in pursuance of the knowledge.

 

[Cutiekc]

And that which the person can do better comes from that which he knows. I believe the knowledge will come only when the trader must have accepted that he is not knowledgeable enough in the said field, believes he cannot make it without that knowledge and goes in pursuance of the knowledge.

Another thing is that, I don't think that this said knowledge normally falls from the sky, it's been worked upon, so therefore we have to know that on the learning curve , we will also have to lose money and that way we are going to learn more and be more exprienced.

 

[Decub]

Another thing is that, I don't think that this said knowledge normally falls from the sky, it's been worked upon, so therefore we have to know that on the learning curve , we will also have to lose money and that way we are going to learn more and be more exprienced.

Virtuall everyone is afraid of losing money, yet they want to earn big and quick too but I think, Forex has made it a safe haven for one learn without losing, or I will say, without losing much. Bulk of those that lose are new traders, majority of the reason they lose is impatience and bringing the two factors closely, then it would be appropriate to say that most times, some losses are engineered by the losers themselves.

 

[Cutiekc]

Virtuall everyone is afraid of losing money, yet they want to earn big and quick too but I think, Forex has made it a safe haven for one learn without losing, or I will say, without losing much. Bulk of those that lose are new traders, majority of the reason they lose is impatience and bringing the two factors closely, then it would be appropriate to say that most times, some losses are engineered by the losers themselves.

Because we are invariably affriad of lossing money that is the same reasom why we can't get to that place in which we want. See failure or lossing does not mean that it is the end. We will be learning from it. Although not saying that one should delibrately throw their hard earned money away.

 

[Bonyi]

Most definitely, you will loose money if you don't have knowledge of forex. Forex trading is for those who are trained and experienced. It is better to get knowledge or you may end up having losses in your trades.

 

[barood4money]

As forex market is based on fluctuations, some times by chance anyone can get profit from trading. But the amount he will lose will be much more higher than the money he will earn. So to earn consistently knowledge of forex is much more necessary.