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    Thread: What would you prefer, in depth trading knowledge or strong psychology?

    1. #1
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      Default What would you prefer, in depth trading knowledge or strong psychology?

      As someone who has no cluue of what those cardiogram like charts represent in trading, the very first thing we are told is to learn the basics of chart reading. Things like trendlines, S/R levels, candles,,, these kinds of things. Once we get the basic idea, we start practicing demo (sometimes real), win something, emotions take over, and it won't be too long before we are left with nothing but disappointment after blowing our first account. Then we start to realize the problem not was not only in our lack of charting knowledge. Conventional wisdom tells it's equally important to possess strong psychology as well as having good knowledge on how the markets move from technical perspective. Given that we can't master none of them to full extent, which one would you focus on acquiring frst?


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      we should get detailed knowledge in trading, also give importance to trend related zones. we should act smarter here, also psychology tells the trend overall. we should gain experience through different scenario. we should not create gap in this business.


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      in my point of view depth trading knowledge and strong psychology trading are important to have if we want to become good traders bro. if we only have depth knowledges but do not have good trading psychology, we will hard to make steady profit and and vice versa bro
      "RoAd tO CoNSisTeNt pRofiT"


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      In forex trading it is difficult to understand the charts , trader have to gather knowledge to understand the sticks,bar, charts. Again it is important to become psychologically strong so that trader can take decision at the important time. So, trader should learn both of these. but first he have to acquire knowledge.


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      You need both as a trader and this is not a matter of either or if you want to get the desired results. Forex trading requires knowledge, good trading skills and wealth of experience. The only way to acquire this as a trader is through learning and practice, beside this you still need a good trading psychology because it is an important aspect of forex trading that is being neglected by so many people


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      i think both matters a lot as trading knowledge should be increased so that trader can make their analysis strong as knowing much about this market helps them to make pair moves more predictable, so try to increase your knowledge, also psychology should be also very strong so that trader can make their senses under control so that any loopholes could be managed,


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      Quote Originally Posted by katrina     
      i think both matters a lot as trading knowledge should be increased so that trader can make their analysis strong as knowing much about this market helps them to make pair moves more predictable, so try to increase your knowledge, also psychology should be also very strong so that trader can make their senses under control so that any loopholes could be managed,
      fx psychology and in depth knowledge most be linked together ,regular profit is all encompassing, the best profit earn thus far in this market , are in the account of those who known much and much about the market psychology, these are factors of trade accuracy , but then market is under other influences


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      i think both the things are equally important strong determination and trading with proper analysis and experience is what mostly required in the forex trading and mixture of both the qualities gives you a good output result.


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      Yes , i %100 Agree as any one who wants to make Forex Carrier its essential for one to have proper knowledge and Understanding of the Forex Basics before looking forward to invest real money in to it.


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      In fact it is very hard to choose one between these two for me. Because i think both of them are equally important to trade successfully in forex. But if a asked to choose one of this, then i'll choose deep trading knowledge. Because it is must to trade successfully and if a trader gather this, then i am sure he can easily improve his psychology. That is why i'll prefer in depth trading knowledge.


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