Is it possible to start Forex trading without knowledge?

Is it possible to start Forex trading without knowledge?

Yes. But you will lose money.

If you do this when considering if you should try your luck in Retail Forex.

"Just don't walk away from it.. Run!"

then that is all you need to know.

If you mean without knowledge of fundamentals e.g. economics, then I would say yes. Anyone with enough discipline, solid money management and experience reading charts can make money trading, regardless of economic knowledge. That's just my opinion of course.

Is it possible to do brain surgery without knowledge?

Is it possible to build a house without knowledge?

Is it possible to do plumbing without knowledge?

Yes, but you won't like the results. If you want professional quality results either (1) hire a professional with lots of experience and knowledge or (2) spend the equivalent amount of time obtaining the requisite experience and knowledge.

Which do you have more of? Time or money?

Yes its called going to a casino....last I checked you don't need any qualifications.

Of course you can start, even if you don't have any experience in this direction, in the end each of us was in your place at a certain time. And it wasn't easy, it was exciting, and so on. Yes, you can start if you haven't had any experience in business before, but you have to be ready for the fact that you have to work a lot, study and test in order to be able to get used to it, because otherwise you will act blindly, and it probably won't lead you to a stable and quality salary. But you don't have to be afraid and think about what you can't do. I think that everyone can understand the market if they have the desire and opportunities. The market can be explored, although it is not such a fast process...

Hello, there is always something to be learned from your posts.

Almost everyone starts trading without any experience in any business. And that's okay. Because there's always something to start with, but it was correctly written that you just have to get ready to work and work hard enough, because there are a lot of subtleties and details that need to be considered, as in any other business.
You have to understand the market not only in theory, but also in practice. This is very important, because you have to not only read the news, but also interpret it so that you can find the most advantageous positions, so that you can earn permanently, not occasionally. The main thing is to act in stages and not to risk large sums of money at once, but you can still lose everything and quickly enough.

It will be difficult to start trading before having any knowledge, but some brokers do have a option of opening a demo account so alot of things can be learned by using a demo account as it will give you more practical knowledge.

Oh yes dude, don't repeat my youthful mistakes.
I was young and stupid and thougt it's possible to earn quick money without any effort on Forex. How wrong I was then....
Believe me nothing in this life is easily achieved. If you really want earn on Forex, don't be lazy, but start learning at least the basics.

Without knowledge, no.

But the less you "know" the better.

Retail forex is a negative sum game for losers.

If you open a retail account you will very likely lose 50 - 80% before you stop and redraw the rest being worse off than today.
This will take less than a year with a probability of about 80 - 90%.
You will waste your precious time - this statement has a probablity of 99.999%, so it is a sure thing.
If you have bad luck combined with high leverage you can even lose more than your deposit.... last example would be cfd oil trades..... an other retail trader grave yard. If you get addicted you are lost.....and the outcome will be far worse in the long run than just losing your money.

The smartest thing to do at this junction is not to fall the big lie of profitable forex retail trading. All scientific studies out there clearly show that this does not exist. By the way the last thing a professional trader would do is using retail forex..... just a joke from a security, transperity, regulatory and trading cost perspective.

Yes, but it's not rocket science.

You can make a living in trading if you have studied for some time, have time and talent and a million or so to spare.

You can slap down $1,000 on a trade with no prior experience and get lucky, or not.

Or be like me and be somewhere in between.

I assume you want to make money, so. The answer is no you can't
You need at least to learn about risk management and money management. With that, you can win even doing random trades with a 50% of winning trades.

Back to square 1
Frank Lopez: You know what a chazzer is?
Tony Montana: No, Frank, you tell me. What is a chazzer?
Frank Lopez: It's a Yiddish word for "pig." See, the guy, he wants more than what he needs. He don't fly straight no more.

Whatever knowledge and tools, techniques and otherwise that's put together... well they tend to stem away from the truth at some point, we forget how to use these tools. No matter your IQ, the most highly paid and renowned professional coaching, d*ck size, your athletic ability and talent, hawk eyes, 5 wives, HGH, all of the money, time & luck in the world won't save you from not knowing how to play the game, and if you cannot control yourself with the most basic and overlooked principle, nothing can save you.

Let's talk MLB, but this applies to any professional anything. Call of duty? Sure. Anything.


That's a fast pitch


Fast enough to make this decision? I mean, no. What kind of professional gives away at his 10 year developed technique and render himself ineffective, and at the team's own undoing and disadvantage?


A battle versus the pitcher, or himself?


That looks nice and straight, "keeping things straight" the secret of batting by Barry Bonds. Please don't argue about his HGH, I'm pretty sure every MLB player has some sort of juice, yet they can't hit as good.

& when emotions are their absolute highest, the pinnacle at the very top of the league. The world series game 7, where it matters the most.



Do not forget what it takes to make a result


Yet everyone does

Yes, if you are looking to get LOSS.
It is like saying "Can I start speaking ABC without learning first?". You may think it might be work, but the chance is it will never.

Yes it is, but you won't make money consistantly.
You need to understand how foreign exchange works, the role of central banks, how brokers work, how money flows across the world, the list is pretty endless. In fact you really never stop learning......

But one thing I would say is, never pay for your tuition, it's all available for free on the internet. But it will take a while to learn even basic stuff.......

Here's a good place to start: Baby Pips dot Com

If anyone wants to enter into the forex market, he should gather knowledge about the trading and the market. Without getting full knowledge about the market, it is quite tough to trade and invest in forex.

That would depend on if you want to make profit out of trading. If yes, then you cannot trade without knowledge. You need to understand trading platform, choose a broker, develop your strategy and only then can you start trading. To become a successful trader you would need experience in trading which would take time. If you don’t want to invest time then you can hire someone experienced to trade for you.