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

    1. #21
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      both is required in order to get success in forex,so i need both of it,without trading knowledge you will not be able to make a profitable price analysis and if you don't have strong psychology you will only end up making more loss since you can't control emotion and greed when trading


    2. #22
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      Knowledge of Forex requires good negotiation skills and a wealth of experience. It is still to achieve as a trader with the trading many are overlooked by people that we need is an important aspect of foreign currencies as well as a trading psychology the only way is through learning and practice


    3. #23
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      We should acquire the great knowledge its the knowledge that we have that will give birth to the psychology we have for forex trading both of them are very important for any trader who is hardworking and what a lasting solution to forex.


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      if you want to get success in this market then you need to have both things, because without having proper knowledge you will never get right entry point and without controlling your emotion you will never stay longer time in this market.


    5. #25
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      Quote Originally Posted by amjed javed     
      Knowledge of Forex requires good negotiation skills and a wealth of experience. It is still to achieve as a trader with the trading many are overlooked by people that we need is an important aspect of foreign currencies as well as a trading psychology the only way is through learning and practice
      if you pick knowledge and ignore the psychological part, how can you be sure you won't break your rules when you face a big loss? This is a serious concern that needs careful thinking, in my opinion, having a stronger psychology is more important than learning about trading tools


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      Trading Psychology & Trading Skills are very much important for complete trading experience

      They complement each other and work together

      So,we can't see them in isolation and can't pick up one over another

      Thus,we have to see the things in its total perspective & have a holistic approach and not wonder about which is better...
      The Real Money is in 100% Compounding


    7. #27
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      Quote Originally Posted by goodguy333     
      Both

      Trading Psychology & Trading Skills are very much important for complete trading experience

      They complement each other and work together

      So,we can't see them in isolation and can't pick up one over another

      Thus,we have to see the things in its total perspective & have a holistic approach and not wonder about which is better...
      but for me, strong psychology is still preferable than the trading knowledge, because if you look at the reasons for the losses, then majority of time, it will be because of psychological mismanagement, not the faulty strategy or lack of market information, that's why emotions are more important


    8. #28
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      Personally, I prefer to have in depth the knowledge about the forex market because that is the only way I could stay up to the pressures of the forex trading business. Actually, there is nothing you can compare with gaining of huge trading skills and years of experiences.
      Today's mistakes are stepping stones full of knowledge that can help us overcome the stumbling blocks of tomorrow's challenges.

      My Trading Journal


    9. #29
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      Quote Originally Posted by Moneymadeeasy     
      Personally, I prefer to have in depth the knowledge about the forex market because that is the only way I could stay up to the pressures of the forex trading business. Actually, there is nothing you can compare with gaining of huge trading skills and years of experiences.
      but knowledge can be gained at any moment, even if you are a kid, you can just read a manual and do things as told in the instruction while it is very hard to possess a strong psychology. That's why I consider the trading psychology to be more important than in depth trading knowledge


    10. #30
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      Actually, you need both. You can not choose between apples and oranges in this case. That is my opinion. You have to posses knowledge of all of the aspects of trading in order to be a profitable trader. Knowledge is something you can not even think trading without, but you can have all the knowledge in the world and it is not going to help you if you do not have the proper mindset.


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