How to earn in Forex without forex knowledge?

Kaldir

Junior member
Hello everybody!
I think it will be useful if your will share your own experience in forex. And help me and other users to understand: is there any way to earn on forex market without any knowledge.
 

sugarlandFX

Junior member
YOU NEED SOME KIND OF KNOWLEDGE! To think you can earn money trading without any knowledge is insane. You at least should know that by analyzing the currency futures' market depth, you can trade the forex even more successfully because they correlate to precision. I trade up to 25 currencies a day using only the market depth of the currency futures. Knowledge is trading, you have nothing but guessing and losses without it.
 

Kaldir

Junior member
Many thanks for your opinion.
But I cant believe in this. Since in each financial structure there is a such way for those who don't have many knowledge or have just a base knowledge.

Does anyone have another minds?
 

Inquisitor

Active member
Hello everybody!
I think it will be useful if your will share your own experience in forex. And help me and other users to understand: is there any way to earn on forex market without any knowledge.
Yes I have the answer for you :) What you need to do is the tried and tested method that everyone else who has no knowledge of how to trade forex does and that is:

Sell a course on how to trade forex

There are hundreds of people making great money doing this most of which have never traded forex in their life. Even better is that there are even more gullible punters willing to pay large sums of money for what is essentially useless information.

If that fails then you can always progress to the latest incarnation of this which is:

Sell a course on how to trade bitcoin

Either of the above will bring in a substantial income for zero knowledge on either subject.
 

tomorton

Legendary member
The simplest way to make money through trading in forex (and other markets) is to find a trend and open a position in the same direction as the trend. you do not have to know what is causing the trend. you do not have to find the very beginning point of the trend and you do not need to hold the same position open until the trend fails or reverses.

You will need to understand some basic price chart technical analysis - how to identify a trend, how to gauge several trends against each other and identify the best, how to use a moving average or two to help your trading, and what a candlestick represents on a price chart.
 

Kaldir

Junior member
Yes I have the answer for you :) What you need to do is the tried and tested method that everyone else who has no knowledge of how to trade forex does and that is:

Sell a course on how to trade forex

There are hundreds of people making great money doing this most of which have never traded forex in their life. Even better is that there are even more gullible punters willing to pay large sums of money for what is essentially useless information.

If that fails then you can always progress to the latest incarnation of this which is:

Sell a course on how to trade bitcoin

Either of the above will bring in a substantial income for zero knowledge on either subject.
Good Idea:)
But in order to sell such kinds of courses it is needed to know a lot about forex and/or bitcoin. Such way if for a good specialist who can speak to auditory. Its not my case:)
Anyway thanks for your opinion:)
 

Kaldir

Junior member
The simplest way to make money through trading in forex (and other markets) is to find a trend and open a position in the same direction as the trend. you do not have to know what is causing the trend. you do not have to find the very beginning point of the trend and you do not need to hold the same position open until the trend fails or reverses.

You will need to understand some basic price chart technical analysis - how to identify a trend, how to gauge several trends against each other and identify the best, how to use a moving average or two to help your trading, and what a candlestick represents on a price chart.

But for analizing the market you need to be good knowledged, isn't it? For example I understand what is trend but I cant to know when it started and when it end. Perhaps for you it is easy to understand it:) But for many peaple it something from fantasy.
Thank you for your minds and solution:)

Any other minds?
 

tomorton

Legendary member
But for analizing the market you need to be good knowledged, isn't it? For example I understand what is trend but I cant to know when it started and when it end. Perhaps for you it is easy to understand it:) But for many peaple it something from fantasy.
Thank you for your minds and solution:)

Any other minds?
I'm not sure what extra knowledge is needed.

I am sure you do not have to identify the start of a trend or the end of a trend. Once it has started, then that is a trend: then you can follow it. You can't follow a trend that has not started yet. Similar with the end of a trend: don't worry about the trend ending, just follow it until it ends. If the trend has not ended yet, its till a trend.
 

sugarlandFX

Junior member
But for analizing the market you need to be good knowledged, isn't it? For example I understand what is trend but I cant to know when it started and when it end. Perhaps for you it is easy to understand it:) But for many peaple it something from fantasy.
Thank you for your minds and solution:)

Any other minds?
For any market, you simply need to understand the market depth, which are the transaction between buyers and sellers. This is how you know the trends, when it begins and when it ends. Buying and selling fuels the market, so these numbers from these transactions should be what you analyze.
 

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sugarlandFX

Junior member
The simplest way to make money through trading in forex (and other markets) is to find a trend and open a position in the same direction as the trend. you do not have to know what is causing the trend. you do not have to find the very beginning point of the trend and you do not need to hold the same position open until the trend fails or reverses.

You will need to understand some basic price chart technical analysis - how to identify a trend, how to gauge several trends against each other and identify the best, how to use a moving average or two to help your trading, and what a candlestick represents on a price chart.
You want to get in while the trend is just beginning, which you can do by analyzing the orders in the DOM. Tech analysis is really overrated and under-performed in consistency. Moving averages, RSI, Stochastics are just platform and vendor fluff. They offer no value to the trader's evaluation of the market. If anyone think so they are fooled....Reason why 90%+ of traders fail consistently....
 

sugarlandFX

Junior member
I'm not sure what extra knowledge is needed.

I am sure you do not have to identify the start of a trend or the end of a trend. Once it has started, then that is a trend: then you can follow it. You can't follow a trend that has not started yet. Similar with the end of a trend: don't worry about the trend ending, just follow it until it ends. If the trend has not ended yet, its till a trend.
Sounds great in hindsight with no money at risk, but when you have money at risk, that just will not do. When you spot absorption on a chart, this is a great entry. When you see a large sell imbalance on the high of a bar, buy imbalance on the low of a bar. These are causes for trends based on market orders. There has to be a concrete reason for a trade entry. NOT JUST BECAUSE PRICE IS MOVING UP OR DOWN! This is not solid trading...
 

Kaldir

Junior member
Sounds great in hindsight with no money at risk, but when you have money at risk, that just will not do. When you spot absorption on a chart, this is a great entry. When you see a large sell imbalance on the high of a bar, buy imbalance on the low of a bar. These are causes for trends based on market orders. There has to be a concrete reason for a trade entry. NOT JUST BECAUSE PRICE IS MOVING UP OR DOWN! This is not solid trading...
What, for example, should be the reason for entering a trade?
How to see this reason?
 

Kaldir

Junior member
I googled a little. And I found something like pamm, mam and trust management.

Can you tell me if anyone has experienced this.
 

lucreceross

Junior member
Ever seen a non-cyclist winning a marathon? No. Trading works the same way. It requires a practical mindset, consistency, and a lot of backtesting. In addition to that, staying updated with the news is also essential. If you can’t do all that, it is impossible to become a profitable trader.
 

DarwinAYC

Active member
By investing on Darwinex. Thanks to their investor leverage (x4) you can often make the same profit as a trader (minus the 20% performance fees). You can try my new DARWIN AYC or any other DARWIN. Starting on a demo investor account is as easy as signing up for a google account. First sign up as an investor, then update the leverage, then search for a DARWIN and start investing. As simple and cool as that :)
 
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