What are the elemental knowledge to acquire before you can become a forex trader?

[Potuse]

There are elemental and basic things that a forex trader must be acquiainted to. A beginner who is just starting to invest in forex must get acquainted to certain things and these things are very important and crucial to making you a successful forex trader

 

[Nomad]

You will have to understand how the market actually operates, you will have to understand the risks associated with trading, you also need to understand the economy of the countries whose currencies you are trading.

 

[Genie01]

Firstly before you can start forex trading you need to have the knowledge of the basics, that's a good way to start not only that you need to have the full knowledge in order to earn money.

 

[Immilash]

Going for the knowledge first is one of the most important things you are expected to do as a forex trader, if you go for the knowledge you'll definitely earn money.

 

[Mayorla]

Before delving into trading the forex market, There are a lot of basic things you need to have knowledge on. Some of these basic things include; The currency pairs you intend to trade, Leverage, Trading plan etcetera.

 

[hastral45]

There are lots of elemental knowledge you should acquire before you become forex trader. After knowing the rudiments of forex trading the most Important aspect is learn how to be financially disciplined.

 

[Shigobad2020]

You need to know about the forex exchange market, the price and the fluctuation of the market , and you need someone by your side that knows everything about forex trading .

 

[Chibson]

Understanding basic knowledge of how the Forex market operates is very important if you want to become a forex trader. From there you can begin to learn things like technical and fundamental analysis. You also need to learn good money management strategy while trading.

 

[Syldan]

Personally I think knowledge is knowledge and it's very important to learn or acquire before you can go into forex trading.

There are some basic knowledge, which will helped you for a start before you learn others at the cost of trading.