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Thread: Why traders failed in Forex trading again and again

  1. #1
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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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  2. #41
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    Repeated failure in forex is as a result of not following good lessons from our past trade to improve on our trade and have that which can allow us to maintain steady profitability. The lack of a good system and proper management in forex are huge reasons we fail most times and for a trader who understands this in their trade must be ready to work hard to build a great knowledge and do their best to decide on the means of trading good in the very right opportunity.

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  3. #42
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    The only thing I must say is that, fix the mindset that a trader has about the market and then you can fix everything possibly that can make a trader loss their money. But when the mindset is always poor then the trader gets to have the losses no matter what they learned. Failure also is caused by poor money and risk management. That is certain and also links with the poor mindset.

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  4. #43
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    Quote Originally Posted by Striker$ View Post
    The only thing I must say is that, fix the mindset that a trader has about the market and then you can fix everything possibly that can make a trader loss their money. But when the mindset is always poor then the trader gets to have the losses no matter what they learned. Failure also is caused by poor money and risk management. That is certain and also links with the poor mindset.
    A positive mind set needed by trader to perform our trading better and profitable so always we take market with positive mind set and use our learning here to be approach for better trading this is possible only if we are using a good system and with perfect ideas we have better way for work and perform our task well .

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    Quote Originally Posted by Giedra View Post
    I do not want to agree that traders fail again and again in forex. Maybe there are a few accounts burned in the learning process at the beginning but later everybody learns what he does bad in his trading and learn from their mistakes. So there are less and less of bad trades with every day. Principally I do not want to agree that all traders fail, I can say only that they do not make millions.
    Maybe, I will be wrong if a trader, if a trader try to avoid his past mistake and learn from it then you are right. Because, Forex trading is not an easy business a trader cannot become successful till he will not about his past mistakes and learn from it. We can learn from our past mistake when we have right knowledge about market.

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    That's because they are not serious to trade the market that's why they fail over and over again, if you want to trade and succeed you must learn from your mistakes and most traders are not even willing to learn from their mistakes before trading that's why they fail to trade again and again.

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  7. #46
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    Yes, if trader does not take the lessons from his mistakes so he have to fail. Mistakes can be various: very big lots, risk management, money management, wrong interpretation of market signals, wrong usage of indicators, going against trend and so on. But every mistake was done in market conditions that trader remembers and he can escape of the same mistakes if lesson is learned.

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  8. #47
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    a good trading system and a good money and risk management both are important to becomes successful in this risky market because it is a business of learning and practice, if you work like a gambler than you can becomes a loser in this market so try to avoid greed in your trade and work like a real trader with proper understanding the market.

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  9. #48
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    Quote Originally Posted by putih View Post
    a good trading system and a good money and risk management both are important to becomes successful in this risky market because it is a business of learning and practice, if you work like a gambler than you can becomes a loser in this market so try to avoid greed in your trade and work like a real trader with proper understanding the market.
    I am entirely agree with you these are the most significant and most probable factors that are helpful for the stability of a wise trader in this risky market otherwise there will be not stop on the failures so if we want to became successful then we must have perfection in our ideas and getting good plans and follow the rules to became safe and secure in this risky market.

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  10. #49
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    There are different reason behind our failure and probable repeating mistakes again and again without any correction and also without any knowledge and sense to select the right trade strategy are worstly impact on the whole trade so we cant earn a lot of profits if we going in the wrong directions of the market this is a bad sign that are not in favor of us.

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    It's clear that when a trader do not work to learn from their mistakes, there is a huge potential that they could easily repeat same mistakes all over again. So many traders lacks knowledge and they do not want to practice good either to improve on their skills towards which they can make profits. Without plans I don't think any trader can really make good profits because with absolute plans they will understand what they should put in effort to work with in order to succeed.

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