Knowldge is important in Forex

[Noin1976]

knowledge is very important in our trading, if the trader works hard to gain knowledge, then the trader would have benefited a lot. We should try to increase our knowledge it is really important for us and we should leatn about market to increase our experience. In market, the experience us really matter we should try to practice on demo account to get experience about currency.


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[Sameeh]

In my opinion that knowledge is the most important thing in the process of the trading because knowledge will let the trader to know everything about forex trading and will understand the nature of the market and so he will start to build his plan and strategy that he will use in trading, the more knowledge the trader gets the more success he will get and then he will become a good trader and knows when to enter the market to trade and when to exit, knowledge also are not limited and the trader needs to update his knowledge and try to learn the most effective and advanced methods that let him to increase the success and let him to make more money and so this will make a difference with the trader always and he will survive for long time.

[Katrina]

Along with Knowledge, you also need to know about the risk management and conrolling emotions to acheive success in almost all your trades.

[Quiinhome]

Not only knowledge, but also practice and patients is also important in forex. Without knowledge, practice and patients, you can not gain success in forex. On the other hand, you have avoid greed in forex trading.

[Katrina]

Proper Knowledge, skills and experience is believed to be the key to achieve success in the Forex Market and you could gain it all by practicing it everyday.

[maby81]

Your straightforward statement is true, however I do not agree that knowledge alone is important for successful trading. True, you need to read news, be aware of what is happening in the market, and acquire knowledge on how things work. But you also need to make good use of various tools, as well as try to set a plan or strategy. You need to take risks into account, and you need to choose wisely. This can be helped with knowledge and experience, and you need to take full responsibility of your actions. I am still quite new, but I have found it particularly helpful to keep a record, like a journal of what I am doing and this is helping me learn to develop a trading strategy.

[Katrina]

When it comes to Forex, Risks is going to be there everywhere. You need to understand that if you wish to obtain success in Forex Trading, you need to have lots of practice to master your trade.

[FXOpen Trader]

When it comes to Forex, Risks is going to be there everywhere. You need to understand that if you wish to obtain success in Forex Trading, you need to have lots of practice to master your trade.

We will need to learn how to minimize the Risks that are present in doing our trades. When the Risks will start to come down then our income from trading will Increase.

[Katrina]

Yes, Risk Management and Money Management are the key to achieve success in the Forex Trading.

[FXOpen Trader]

Yes, Risk Management and Money Management are the key to achieve success in the Forex Trading.

We will have to understand and also try to minimize the Risks that are present into our trading.