How much knowledge is needed to trade forex

Alot of people place emphasis on the need to get trained before trading forex on any platform but how much knowledge can be said to be sufficient before one can begin to trade on forex?

Also, some persons are able to get trained in weeks, some others in months and while others in years, there are tons of books and materials everywhere about forex, I have personally read some to the point I got so tired, I don't know who else have similar experience like mine, is forex that complicated and how much knowledge is needed before one can safely trade forex?

Forex trading is very complex and volatile market so learning about forex trading could be in a very short time and it could be endless. In my opinion, you try as much as possible to learn the basis and identification of signals which is very important then you can gradually start the trading by injecting an amount you can afford to loose , it is Fundamental that you will learn some tricks of forex trading when you have started the trading in reality such that regardless the number of books you read you may not get it.

Powerful, forex trading is really complex but rewarding, it's not for the faint-hearted but the lion-hearted and the knowledge about it is almost endless as there's always something to learn almost every time and even with the tons of books in circulation, has made learning more tedious and uninspiring, people want to make money with forex and not earn an unofficial degree with it.

This is not to belittle the need to learn and get information about forex, rather beyond the almost endless lecures or tutorials available every where, the authors should instil confidence in the heart of their readers and that the readers can only get better by trading and developing themselves.

Wow, this is beautiful, for your teacher to fund your account, I guess it has to be a paid service which should be better than a self-taught approach towards learning forex. A teacher can also serve as your coach and mentor, I can relate with the fact that many people don't feel that they need the services of a teacher because of the abundance of materials flying all over the place and videos on YouTube, that's were many people get it all wrong.

As for me , base on the news I have read about forex traders losing a lot of money from forex trading , I won't advise anyone to go into forex trading.

Forex trading demands that the person in question will have a good knowledge in the forex field .this is why some people start their forex trading journey with a forex trading demo account .
Going into forex trading without having the desired skills is like throwing money Into the ocean

There are dozens of steps that people have to take in order to truly call themselves a Forex trader. Most of these steps are taken when people are trading Forex for beginners’ status or are trying to exit it with some knowledge already under their belt.

To summarize the whole beginner’s phase of starting to trade Forex we need to look at exactly 10 major steps that a beginner has to take.

1. Learning the basics (currency pairs)
2. Learn the software (MT4, MT5)
3. Learn with demo accounts
4. Find a reliable service provider
5. Use the service provider’s resources such as tools and guides
6. Try out the support services of the provider
7. Learn about strategies and try them all out
8. Create a plan for reading news and doing independent analysis
9. Keep weekly track of the progress
10. Start placing real trades

All of these may look overwhelming, but beginners usually take it step-by-step so that the learning material is always easy to handle.

Forex trading for beginners is extremely hard, it requires hours of time every single day in order to stay updated on the news, new strategies and all the material that is needed. All in all, it’s not something people can do in a week. It could take months, and sometimes even years.

Even the most experienced traders tend to learn something new on the market

Reasonable failure or losses is usually part of our learning experience and that's why it's advised that you don't trade what you can't afford to loose. Desperation is one of the reasons people loose money in forex, they learn so much about profits and trust their instincts on the supposed forex signal and all they can imagine deep inside their heart is that a loss is not possible or visible but gains, then they go on calculating and predicting what their profits will be but unfortunately when they commit to the trade, it turns out to become a disaster because they traded with everything that they had and many go away bitter without learning any lesson that would have helped them trade better next time, why for some others, it's a complete goodbye to forex.

Full time? Don't dare it.

Part time? Good

Trade by yourself, don't let anyone trade for you unless you're ready to swallow the risk and wouldn't go mad if your money gets crashed.

Best advice from me is that you should learn on your own and don't aim too high, aim for amounts you can afford to lose.

Lastly, learn for about 3 months to 1 year, then put small money to learn with, don't just learn using demo, learn with real money too.

Demo is a waste of time.

Yes demo is truly a waste of time, most of the losses people experience with forex is due to the false confidence that came to them subconsciously when the traded on a demo account. I can remember a story on how someone made a lot of money on a demo account and lost woefully In a life trade.

Demo gives the people a false sense of security and negatively affects their mentality and influence their consciousness that once they are done trading with a demo account, they can make money in a live account and unfortunately, they end up loosing their hard earned money.

I have a former office mate who is into forex trading. She got rich with that business and she also has a money changing business. However, when I met her before the pandemic she said that the US dollar is very stable in the exchange rate with our currency so there is no business there. She wouldn't trade other currencies because she needed to know the country's political and economic situation.

I have some experience around forex trading I've learned it through demo account via promo.stormgain app. USD and EUR are the two most valuable currency in the forex trading market. Those currencies are often traded than any other, and it brings profit to traders who knows how to analyse the market and actualize when right to trade the currencies.