Knowledge Deficiency
 

Most new Forex traders do not take the time to learn what drives currency rates (primarily fundamentals). When some news or a statement is due out, they close out their positions and sit out the best trading opportunities; they are taught to only trade after the market calms down. So essentially they miss the whole move and then trade the random noise that follows a fundamental price move. Just think for a moment about technically trading the aftermath of a price move; there is no potential.

Re: Knowledge Deficiency
 

By learning about the market, before entering it, makes it relatively easy to trade and you can more use of the market situations.

Re: Knowledge Deficiency
 

Experience is the power to achieve a profit in Forex trading. In addition to the experience we also need patience. With patience then we will achieve success in Forex. While you experience but not with patience it will be difficult to achieve success in Forex. Thus, the combination of experience, knowledge, and patience is the key to success in Forex trading. now I am trying to learn trading with a demo account contest. Currently I am participating in Armada Markets demo contest and link