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  1. #1
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    Trading knowledge.

    In order to my personal observation; learning never stops at Forex business! Yeah, we may start our trading from zero level, but we have to build up a professional trading personality by learning! We need to make up fit trading fitness! In addition, this trading fitness can be achieved by learning or acquiring knowledge on Forex business!

    If we can practice properly with our trading plan and strategy, then we may progress our trading fitness gradually! But, don’t expect same winning ratio in your live account as like your demo, you have to work with psychological analysis! Never trade blindly in your demo, happy learning!

  2. #2
    Senior Trader
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    Interesting point is, it’s an online business, so we can learn Forex trading through online without any trainer or teacher! Such as, I found this forum on Google and I got so many useful guidelines here on technical and news trading! Forex trading is a knowledge based business! That’s way, you can’t be a successful Forex trader within a night cause, learning is a long term process! You need to read all of techniques of Forex trading process and trading strategies to be a successful Forex trader!

  3. #3
    Senior Trader
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    Actually, knowledge will set you free! In addition, the more you know the better your chances of winning on your trading result! Honestly, to be a consistent player only knowing basic rules are not enough, you have to know details advance level of Forex trading! You may notice, all of professional Forex traders are doing their trading so smoothly! Know why? Because, they know what they are doing actually!

  4. #4
    Junior Trader
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    no doubt that learning in this domain is the essential element should be taken in consideration to achieve to success, a trader have to accumulate a good package of skills and try his best to lead his trades with high win rate, he should filter all the informations he get and adopt the usefull ones for his success. this forum is the safe place to learn and exchange our knowledge, traders have to enjoy it.
    Last edited by tahiri; 01-25-2017 at 12:54 PM.

  5. #5
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    Absolutely, myforexforums is one of the most informative forum in Forex world! I have learned professional news trading from this community! The daily fundamental perspective is really outstanding feature! Besides, I get here daily support and resistant points on all of major currency pairs in a chart, really useful! Besides, the forum members are too helpful! A great learning place indeed!

  6. #6
    Senior Trader
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    Knowledge is the key point here! No one can success in Forex industry without enough trading knowledge! I see, professional Forex traders trade confidently because of their trading knowledge! Even, sometimes they hold their trades position for more than one week because of their extreme trading skill. By the way, being a knowledgeable trader always takes time, it’s not auto process.

  7. #7
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    Trading strategy is also important in forex trading in my opinion.
    Forex trading requires putting together multiple factors to formulate a trading strategy that works for you. There are countless strategies that can be followed, however, understanding and being comfortable with the strategy is essential. Every trader has unique goals and resources, which must be taken into consideration when selecting the suitable strategy.

    There are three criteria traders can use to compare different strategies on their suitability:

    1. Time resource required
    2. Frequency of trading opportunities
    3. Typical distance to target

    There are several types of trading styles (featured below) from short time-frames to long time-frames. These styles have been widely used along the years and still remain a popular choice from the list of the best Forex trading strategies in 2021. The best Forex traders always remain aware of the different styles and strategies in their search for how to trade Forex successfully, so that they can choose the right one, based on the current market conditions. Here are some best forex strategy.

    1. Scalping - These are very short-lived trades, possibly held just for just a few minutes. A scalper seeks to quickly beat the bid/offer spread, and skim just a few pips of profit before exiting and is considered one of the most advanced Forex trading strategies out there. This strategy typically uses low time-frame charts, such as the ones that can be found in the MetaTrader 4 Supreme Edition package. This trading platform also offers some of the best Forex indicators for scalping. The Forex-1 minute Trading Strategy can be considered an example of this trading style.
    2. Day trading - These are trades that are exited before the end of the day. This removes the chance of being adversely affected by large moves overnight. Day trading strategies are common among Forex trading strategies for beginners. Trades may last only a few hours, and price bars on charts might typically be set to one or two hours.
    3. Swing trading - Positions held for several days, whereby traders are aiming to profit from short-term price patterns. A swing trader might typically look at bars every half an hour or hour.
    4. Positional trading - Long-term trend following, seeking to maximise profit from major shifts in price. A long-term trader would typically look at the end of day charts. The best positional trading strategies require immense patience and discipline on the part of traders. It requires a good amount of knowledge regarding market fundamentals.

  8. #8
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    To learn about the strategies is good, but one should also learn about when to utilize which strategy to become successful in the Forex Market.

  9. #9
    Senior Trader
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    Quote Originally Posted by Katrina View Post
    To learn about the strategies is good, but one should also learn about when to utilize which strategy to become successful in the Forex Market.
    If we are looking to make income from our trading we will need to make use of more than one trading strategies.
    In this way our trading results will also start to improve with time.
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  10. #10
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    I believe you can gain trading knowledge in a variety of ways. As correctly mentioned it is all based online and so you can find plenty of resources online. The mroe you search and read and research you will gain more insight and trading knowledge that will be able to shape your experience as a trader and assiist you in making good choices. You will be able to gather more insight on teh best timing and entry and exit points, and you will also be able to devise a sound strategy while being level headed.

  11. ARIONFORXtarder
 

 
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