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Thread: Why traders failed in Forex trading again and again

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    Red face Why traders failed in Forex trading again and again

    Hello guys how are you hope everyone is fine today I am going to open my first thread in this forum.
    There is a lot of reasons behind the failure of a trader but I will share my own experience in Forex trading....
    No Trading System.
    It is the first mistake of a trader that he comes in the market without learning a proper trading strategy. Most of new traders are thought that they can become successful without learning the advance knowledge of Forex trading. Which is there wrong thinking which become the cause of their failure.
    Improper Money Management.
    when a trader comes in live market he thought that without following money management we can become successful. But, money management is the only rule which is applicable on all type of trader so it's their second mistake.
    Psychology Of Forex Trading.
    this tool plays more than 70% role in the success of a trader that how to control emotions. When a trader think about opening a then he do trade with high risk that's why his trading strategy not follow his instruction and their account washed out in short period of time.
    if a trader tries to learn these mistakes then he can become successful. It was my own point of view now kindly share your own experience which you learnt in your past.

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    Trader Senorita's Avatar
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    As a result of not learning from loss, traders would easily loose their investment in forex and it will be so difficult for them to make profits. If plans are not followed to manage risk, the high chance of loosing can be high. We have seen traders loose too much of their capital due to greed and lack of knowledge and its painful that they repeat this process all over again without making the best plans to learn well from their mistakes.

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  3. #1262
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    Quote Originally Posted by Senorita View Post
    As a result of not learning from loss, traders would easily loose their investment in forex and it will be so difficult for them to make profits. If plans are not followed to manage risk, the high chance of loosing can be high. We have seen traders loose too much of their capital due to greed and lack of knowledge and its painful that they repeat this process all over again without making the best plans to learn well from their mistakes.
    One major problem with traders in this market is greed,everybody wants to make quick profits and at the end we end up losing even the little investments we have in this market,if we are patient and discipline with a good trading strategy we will be able to succeed easily in this market.

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  4. #1263
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    there are some points which should be known well by traders as reasons for loses and failed at this business, then we need to spend the time and start to evaluate the past to see some points behind it and then fix and complete them, this is very much important for traders to know their weakness and how to fix them to reduce or avoid the same mistakes or do not repeat them again and again
    and at last, it depends to trader's commitment where they have already known the problems and how to solve them with follow some points as rules for better trading at next time

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    Quote Originally Posted by Senorita View Post
    As a result of not learning from loss, traders would easily loose their investment in forex and it will be so difficult for them to make profits. If plans are not followed to manage risk, the high chance of loosing can be high. We have seen traders loose too much of their capital due to greed and lack of knowledge and its painful that they repeat this process all over again without making the best plans to learn well from their mistakes.
    I think that the truth can be somewhere here. Trader should learn from his mistakes and losses and only inability to use own mistakes and losses as good lessons can cause the constant failing in forex market. Of course, failing again and again means that trader will lose everything one time and he will not survive in forex market.

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  6. #1265
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    I am very sure that there are more than 20 good reasons why traders do fail again and again in forex trading.. The few you have mentioned here are some of them , but there are so many others why traders keep failing in the forex market . Take for instance, if you dabble into the forex market without taking some proper education about the market , there is no way you can make success out of the business. Forex need to be learn , and not just to be learn, but to be learn in the proper way such that we get to know most of those things that can help us to become successful as traders.

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    The traders falls into losses due to own greed and own impatience because in this market we need a lot of patience and with time and hard working we can plan better for the trade system that we use so if there are perfections in the trade systems then there can be various opportunities we gain for excellent trade results and get betterment in earning potentials .

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    It is a normal thing to fail once or twice, or even a third time but that's only when you are still very new in the market, when you get deeper in trading forex you need to also try to improve and the only way toward improvement is for you to be learning from your mistakes, even without mistakes you can still learn to improve your trading experience and knowledge to avoid several failures, cause lack of knowledge is the major cause of excess failure.

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  9. #1268
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    No one can state correctly why every one fails, but on my own facet, I can remember that I was failing because of the fact that I believed my trading strategy should do all the job, not knowing that it will be my duty for me to learn and master my emotions, I never knew that discipline has a lot of so many benefits when we obtained it, but when I learned and started applying that, I started seeing results.

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  10. #1269
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    The reasons behind failure are many in this business caused there are actually many factors that comes into our mind when we see thread like why trader's fail again and again, well the common reason remain lack of a good knowledge and experience but in some cases it's behind more than lack of knowledge and experience, but those two factors remain the most common reasons.

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    Firstly, I think that the most effective way of staying profitable in the field of forex trading without failing is whenever we start trading the forex market with an effective trading system because it would allow you to learn and master the market moves over time, but whenever you are not trading with any system then it opens you up to series of mistakes which is capable of limiting your progress as a forex trader. So the main or major cause of the failure being experienced by the novice or newbies is lack of good trading system with which they can learn how to trade the market over time.

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