Hi everyone, silly I know… However, I have never liked or been good at math. Can I still be a successful Forex Trader with just basic,average math skills? How much math is actually used on a daily basis? I assume that all trading is mostly skill/knowledge with a little bit of luck mixed in.
Thanks.
If you study at the free school here, you’ll find detailed explanations on how to carry out various forex calculations.
However, this is more to give a better understanding of what is happening and why. When you actually get down to trading, there is a calculator here to help you work out your cost per pip movement etc.
Open a demo account and practice as you study, I’m sure you’ll soon work out what is what. You can always come back here with any questions you think of.
Namaste
Become good at percentages and understand averages. Get an idea of probability.
That’s about it really.
comment Removed by Me (martin k) as a result of , i no longer care to help this OP since they don’t want to help themselves
Thanks everyone I do appreciate your help 
You’re Welcome mate,not a problem
Sure! Trading is all about technical & fundamental analysis! There is no direct connection with the scientific math!
@NaguibSawiris
What ?? are you kidding
hehe
this is a joke… right ?
i mean, i’m taking this literally, but my common sense is telling me that you’re being sarcastic but i’m not picking up on it… is that correct ?
this cant’ be a factual statement… right ?
so… tell me you’re kidding.
and also Trading is also about Sentiment trading (that’s a real thing as well)
I too am also wondering what is the difference between scientic maths and regular maths.
Maybe 2 plus 2 equals 8 in scientific maths
Well said! There is no need high level of math but basic understanding is very much important!
I didn’t find in Fx trading at any technical issue that relates to Math. Success in trading completely depends on your trading and experience.
If you can’t calculate your perfect lot size, use a forex calculator, there are hundreds of them throughout the Internet. I don’t see any problems with it.
I’m not a math professor too, somehow, I manage to trade.
These are two different spheres.
However, you’ll need to think logically
oh. i thought he meant there is no connection between math and technical analysis.
i suppose the difference between Scientific mathematics and Basic Mathematics is when you get into higher concepts. but i don’t think they apply in technical analysis too much.
it’s not like you’re going to be working with Pythagorus Theorum or Calculus or Algebra (unless you are doing some deep Statistical analysis)
so for the most part, thankfully, Basic Math cuts it.
You just need basic calculation capacity; no need high level of math.
Forex trading is not basically a method that is mostly related to analytical abilities and intuitions to read the market. and trader should gather sufficient knowledge, skills and expertise before trading. It is somehow not very related to math!
Look mate most of the trader do not start trading with any forex education. Many do not have institutional certificate. But still they are doing well. Because you do not need to be good in any particular area. But by studying you can made yourself prepared for trading. That’s why BabyPip is here for us. And forex is nothing like a rocket science right. So, you do not need to be worry just start with proper education and practice.
@Logan_Gabriel
ummm… hang on a second, this is not correct
this part here… IS CORRECT
this part here… IS CORRECT
THIS PART IS COMPLETELY WRONG
Most fail mate, they are not doing well at all.
it is true you don’t need a high level of math, but you are suggesting that merely by reading the babypips course they will ready to be profitable hehe
that’s so far from the truth it’s funny
and this…
actually mate , there is a good degree of work involved, so you could say from a point of view. IT IS ROCKET SCIENCE.
IT’S CERTAINLY NOT EASY
Never a truer word. Actually, I think I could have mastered ‘Rocket Science’ in less time. I started trading retail FX back in 2009. All up I guess I’ve put in excess of 50,000 hours. In the beginning I’d spend 16 hours a day through London, New York and Asian sessions just to get a feel for how things worked. And have tried pretty much every indicator and combination thereof along the way. The penny does finally drop. But its not for the faint hearted. You don’t need to be good at math beyond calculating your stop as a percentage of your account balance and thus lot size (lots of online calculators if you need help, I think if memory serves BP has one). Its been a few years since I was on BP and the whole look has changed. Nice to be back though as a newbie.
+1 - Keep firing those Ball Bearings on the demo account and you will get a “feel for it” eventually. Read, study, understand the “techy stuff” and you will get there if you stay with it long enough.
It’s a bit like fishing - when I was a kid I spent summer after summer trying to catch a tench and winter after winter trying to catch a pike.I read everything and copied it - Then one day I caught a tench. another day I caught a pike - now I can go to a new spot any time and catch what I want - you just learn to “Think like a fish”.
It’s just time, study and perseverence - unless your dad happens to know what he’s doing and teaches you !
Forex trading is not just based on calculations here analysis , plan and emotional control also counts a lot. Any person with normal calculations can do good trading if follow simple trading rules . prepare himself for management of risk . Anyone can be a successful trader having not mathematics skills.