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That's the honest truth, without knowledge one would definitely be crippled by the financial markets.Knowledge I mean proper knowledge is important in other to be successful in forex trading.
It is very important to learn and to understand how forex trading works and how long one can wait in other to start benefitting. Most people are impatient and they think everything is sharp sharp.
Knowledge, patient, good understanding and readiness and passion are important in forex business.
Having knowledge about a particular area involve having all the necessary knowledge that will help you succeed in the area you have choosen to concentrate on which obviously psychology and proper risk management is also among.That's the honest truth, without knowledge one would definitely be crippled by the financial markets.
By knowledge, it also incorporates a sound psychology and risk management
That's true and also if you don't know how to manage risk you'll ended up blowing your trading accounts, risk management is very important in forex trading.If you don't have a trading plan I promise you, you'll be blowing up your trading accounts, if you are good at planning you'll definitely see the best results.
I suggested that the reason why individuals take a loss in forex is a lack of a basic understanding of how the forex trading operates. Often investors want to put money into a firm and then cash out quickly because without learning how the market works.Forex trading is profitable despite the many risk involved, while many have made huge profits from the market, many other are counting the loses daily.
But what are the major causes of failure in forex market especially for young trader?
I will list 3 that I know of:
1. Impatience in the learning stages.
2. Lack of proper mentorship.
3. "Make it fast" syndrome.
What other things do you think is are the causes??
That's true but a lot of people don't really understand this, if you don't practice on Demo accounts you are not going to earn a considerable amount of money in trading.I think if you don't have the knowledge of trading you are going to lose a lot of money, that's why you need to spend your time on demo account, that will be a good idea.
Demo accounts are very important in trading, with the little experience I'm having on trading you can practice on Demo accounts to have a good knowledge.That's true but a lot of people don't really understand this, if you don't practice on Demo accounts you are not going to earn a considerable amount of money in trading.
That's true, demo accounts are used for practice, if you are good at using them you are going to have a good experience, I've also started with a demo account.Demo accounts are very important in trading, with the little experience I'm having on trading you can practice on Demo accounts to have a good knowledge.
That's true, if you are a newbie in trading you'll like to start up with a demo account, if you are practicing it will help you to have good experience on what you are doing.That's true, demo accounts are used for practice, if you are good at using them you are going to have a good experience, I've also started with a demo account.
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