Skills For Forex Trading

[FreshKaz11]

1) Strong mathematical and analytical ability... Because when trading on short term spread on the forex market, you'll be dealing I'm currency pairings. This is presented as two numbers,side by side,which can initially be quite confusing without the right knowledge and understanding...
2) Mental staminal and discipline.... As a for ex trader be alert that you must experience ups and down along the way. So there is plethora of financial information available online, and potential traders simply must be able to remain focused on the primary and actionable date that directly affect there trades...
3) Meticulous record keeping... A trader who stay in top their admin,recording the result of there trades with conscientious care,is more inclined to discover a prosperous strategy.
4) A fundamental understanding of forex..... Only once you can confidently identify jargons,strategies,trends and data will you be ready to start trading....

 

[Highflyer]

The most required skills in a Forex Trader job description

• Strong analytical skills. ...
• Good Numeracy and Mathematics Abilities. ...
• Interest in finance and the financial markets to research. ...
• Focus. ...
• Physical and mental stamina. ...
• Record Keeping. ...
• Excellent communication and interpersonal skills with teamworking ability.The forex market can be a formidable opponent. The daily transaction volume as of April 2019 was approximately $6.6 trillion; the forex market is regarded as the most liquid market in the world.

 

[LaylaG]

This really shows that forex trading is not a skill one can just arises and start having,if you just arise and start trading forex you will lose alot that your trading account will be liquidated,i advise people who want to trade forex to learn all the basics of forex trading before investing Money.

 

[kayode10]

Forex trading is not for the faint mind. The reason is that the fluctuation of the market price as it goes up and down can cause a great panic for the weak minds. A person who wants to trade forex must be good at reading chart and know how to signal.

 

[Seun4luv]

Strong mathematical and analytical ability. Regardless of which market you choose to trade in, every potential investor simply must have a strong set of mathematical and analytical skills. Mental stamina and discipline . Meticulous record keeping. A fundamental understanding of forex.

 

[eenya00]

There are various skills that is needed to trade forex effectively, knowing about candle stick pattern, the formation and how they could possibly effect your overall trading experience is very important and much needed if you are to last in the forex market

 

[Damscooguns73]

Concerning the skills for forex. Well, all have been said and stated correctly, forex is like a course that needs time to study just like how we study our departmental courses in school. It is very sensitive profitable, and also risky. Be knowledgeable and ready to have some risk tolerance before going into it

 

[btaliat]

Forex requires some skills if truly u want to be gaining. The veyr first thing is to make sure you are patience and have analytical skill. You should know how to use your analysis to predict the future price of currency you want to trade in.

 

[Usman Sattar]

Forex trading is widely used today.With this we can succeed in promoting our business as it brings a lot of benefits.We must also play a role in expanding forex trading.So that we can make more profit than before,Our work requires a lot,And we should improve it,

 

[Bilal0087]

1) Strong mathematical and analytical ability... Because when trading on short term spread on the forex market, you'll be dealing I'm currency pairings. This is presented as two numbers,side by side,which can initially be quite confusing without the right knowledge and understanding...
2) Mental staminal and discipline.... As a for ex trader be alert that you must experience ups and down along the way. So there is plethora of financial information available online, and potential traders simply must be able to remain focused on the primary and actionable date that directly affect there trades...
3) Meticulous record keeping... A trader who stay in top their admin,recording the result of there trades with conscientious care,is more inclined to discover a prosperous strategy.
4) A fundamental understanding of forex..... Only once you can confidently identify jargons,strategies,trends and data will you be ready to start trading....

After reading this post, i think its not for me.
I'm a student of Biochemistry and my mathematics is very weak and I don't have strong analytical skills, please suggest me from where I should start?
I want to learn Forex trading. But i don't know how to start.

 

[Virgo25]

Strong analytical skills. Good Numeracy and Mathematics Abilities. Interest in finance and the financial markets to research. Focus. Physical and mental stamina.
Record Keeping. Excellent communication and interpersonal skills with teamworking ability.

 

[Jomarie05]

Strong mental ability and concentration on matemathical skills.You need also to experience to make you aware of everything on trading,experience is the best when it comes on any trading like forex.

 

[Oliver 20]

Solid numerical and insightful capacity. Notwithstanding which market you decide to exchange, each potential financial specialist just should have a solid arrangement of numerical and scientific abilities.

 

[Eyiteepraise]

The skills includes you having strong mathematical and analytical ability with mental stamina a d good record keeping and a good understanding of forex and also mental discipline too.

Post automatically merged: Jan 25, 2021

The skills includes you having strong mathematical and analytical ability with mental stamina a d good record keeping and a good understanding of forex and also mental discipline too.

 

[Shahid Abbas]

1) Strong mathematical and analytical ability... Because when trading on short term spread on the forex market, you'll be dealing I'm currency pairings. This is presented as two numbers,side by side,which can initially be quite confusing without the right knowledge and understanding...
2) Mental staminal and discipline.... As a for ex trader be alert that you must experience ups and down along the way. So there is plethora of financial information available online, and potential traders simply must be able to remain focused on the primary and actionable date that directly affect there trades...
3) Meticulous record keeping... A trader who stay in top their admin,recording the result of there trades with conscientious care,is more inclined to discover a prosperous strategy.
4) A fundamental understanding of forex..... Only once you can confidently identify jargons,strategies,trends and data will you be ready to start trading....

I think it is very difficult to learn a forex trading skill, it is better that we need to learn the skills of cryptocurrency trading, Because there are more chances of loss in forex trading, it is difficult for beginners to manage it.

 

[Richmond funke abosede]

Strong analytical skills. ...
Good Numeracy and Mathematics Abilities. ...
Interest in finance and the financial markets to research. ...
Focus. ...
Physical and mental stamina. ...
Record Keeping. ...
Excellent communication and interpersonal skills with teamworking ability

Post automatically merged: Jan 25, 2021

Strong analytical skills. ...
Good Numeracy and Mathematics Abilities. ...
Interest in finance and the financial markets to research. ...
Focus. ...
Physical and mental stamina. ...
Record Keeping. ...
Excellent communication and interpersonal skills with teamworking ability

 

[BrolySSJ]

The most important skill is to be able to analyse the market and to be able to have that mental discipline to not panic by and panic sell when the prices going in a different direction than you were expecting. And to be honest I think that this is the hardest thing to achieve as a trader be it in the forex industry or even in cryptocurrency Trading. As humans, we are naturally run by our emotions so to be able to separate high emotions when we are making the trade and only look at the values that are in front of us can be quite difficult. And as you said having a strong mathematic basis is also important to be able to make your own predictions and your own analysis and indicators.

 

[Oloritoks]

The skill needed for forex trading takes time because of the complex nature of it even if it looks simple to the eye, one is expected to pay attention to details that requires arithmetical knowledge during profit calculation.

 

[archahmad]

forex trading and cryptocurrency trading is associated with high risk. The market is very volatile at any time you can gain and loss. When doing forex bear in your mind that you can lose your investment anytime. Dont invest what you can afford to lose

 

[Nicklas22]

1.Strong mathematical and analytical ability. Regardless of which market you choose to trade in, every potential investor simply must have a strong set of mathematical and analytical skills.
2.Mental stamina and decipline.
3.Meticulous record keeping.
4.A fundamental understanding of forex