Knowledge and Success

This is a discussion on Knowledge and Success within the Forex forums, part of the Markets category; Indeed Knowledge is a prerequisite to gain money in the Forex Market, you need to understand that if you wanna ...

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Old Dec 19, 2017, 4:47am   #31
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Indeed Knowledge is a prerequisite to gain money in the Forex Market, you need to understand that if you wanna make a good money online, you should never stop learning about the Forex Trading.
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Old Dec 21, 2017, 5:55am   #33
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Thanks for sharing such information in here. It is quite an inspirational video. Keep sharing.
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Old Dec 21, 2017, 5:58am   #34
 
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Ask for a Help https://www.youtube.com/channel/UCcXWX1t1hQRwAIzpTU40s3w/videos

Hi, i am trying to Be a good forex trader at the moment then i found this Video on youtube
https://www.youtube.com/channel/UCcX...TU40s3w/videos

Can anyone help whether it is good for beginners?
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Old Dec 21, 2017, 11:00am   #35
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Trading knowledge is the core point of success! Which traders have good trading knowledge, they can make a decent monthly income quite comfortably! Itís a knowledge based profession, so which traders try to make money here based on their luck or emotions, ultimately they lose their capital whatever amount it is!
Trading and financial knowledge is very underestimated now. Many people start trading without knowledge. Therefore, we have statistics 98% of traders lose.
Knowledge of trade is not only a knowledge of technical and fundamental analysis. Knowledge of the market, knowledge of the psychology of trading, knowledge of politics and international relations are also very important disciplines for trade.
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Old Dec 21, 2017, 7:13pm   #36
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Trading and financial knowledge is very underestimated now. Many people start trading without knowledge. Therefore, we have statistics 98% of traders lose.
Knowledge of trade is not only a knowledge of technical and fundamental analysis. Knowledge of the market, knowledge of the psychology of trading, knowledge of politics and international relations are also very important disciplines for trade.
but what is knowledge?
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Old Dec 21, 2017, 7:41pm   #37
 
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but what is knowledge?
what answer would a brain surgeon give to this question?

specialized medical education, training and experience i would imagine.

w/o we are disadvantaged, not dead in the water just a lot of ground to make up

because i don't have a medical education won't stop me from trying. i'm an amateur...."brain surgeon"
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Old Dec 22, 2017, 7:08pm   #38
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....education, training and experience
good point

Last edited by Kaeso; Dec 22, 2017 at 8:09pm.
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Old Dec 22, 2017, 11:38pm   #39
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At least with the brain surgeon, typically they go through 6 years of med school, interned at hospitals, some more med school to specialise in brain surgery, interned again with brain surgeon specialist before finally graduating to practise.

In contrast, what do private retail traders learn from - maybe you tubes and whatever they find on the internet. No wonder this thread is full of postings talking "about" knowledge but never "of" knowledge.

Success in trading is not about knowledge but is in application. For example, we all know how important it is to cut losses and press winners. Why is it so difficult to accomplish it in trading?
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Old Dec 23, 2017, 4:08pm   #40
 
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At least with the brain surgeon, typically they go through 6 years of med school, interned at hospitals, some more med school to specialise in brain surgery, interned again with brain surgeon specialist before finally graduating to practise.

In contrast, what do private retail traders learn from - maybe you tubes and whatever they find on the internet. No wonder this thread is full of postings talking "about" knowledge but never "of" knowledge.

Success in trading is not about knowledge but is in application. For example, we all know how important it is to cut losses and press winners. Why is it so difficult to accomplish it in trading?
Just remember, the qualified Brain Surgeon always earns a regular income
But the Retail Trader, despite days, months or years of study and practice might ( 95% don't) earn some sort of income. Unlike the brain surgeon, passing exams does not guarantee a regular ( if at all) income. In short your logic is faulty; you compare oranges and apples instead of like for like. AT its simplest, some surgeons will be more successful than others but they all earn a positive income. But the trader might be trained and qualified but a positive high or low income does not necessarily follow qualification/graduation.
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Old Dec 23, 2017, 10:36pm   #41
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Just remember, the qualified Brain Surgeon always earns a regular income
But the Retail Trader, despite days, months or years of study and practice might ( 95% don't) earn some sort of income. Unlike the brain surgeon, passing exams does not guarantee a regular ( if at all) income. In short your logic is faulty; you compare oranges and apples instead of like for like. AT its simplest, some surgeons will be more successful than others but they all earn a positive income. But the trader might be trained and qualified but a positive high or low income does not necessarily follow qualification/graduation.
You are right in that comparing brain surgeons and traders is an apples and oranges comparison. How can it not be because they are two different professions. My post is to highlight that in one profession, the extend, structure, guidance and length of time required to develop the necessary knowledge and skills in contrast to trading which often is based on what could be sourced from the internet.

The logic is faulty only if I am attempting to equalise but in this case I am contrasting.
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Old Dec 26, 2017, 5:46am   #42
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Knowledge and experience and skills are all needed to become successful in the Forex Market. You need to understand that if you want to ensure success in the same.
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Old Apr 26, 2018, 10:56am   #43
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Knowledge and experience and skills are all needed to become successful in the Forex Market. You need to understand that if you want to ensure success in the same.
Agree, but besides knowledge , experience or skill you have to ensure real practice session , otherwise maximal result will not come out at all.
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Old May 14, 2018, 5:10am   #44
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Forex trading helped me a lot to grow as a person. When you desperately want to succeed in Forex trading, you learn discipline, that is almost the only necessary skill you need.
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Old May 14, 2018, 4:25pm   #45
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Originally Posted by Brumby View Post
You are right in that comparing brain surgeons and traders is an apples and oranges comparison. How can it not be because they are two different professions. My post is to highlight that in one profession, the extend, structure, guidance and length of time required to develop the necessary knowledge and skills in contrast to trading which often is based on what could be sourced from the internet.

The logic is faulty only if I am attempting to equalise but in this case I am contrasting.
i really wouldnt want some of the traders i have worked with operating on my brain ? ....hahahahahaha
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