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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    The major reason a lot of traders fail in this market and will continue to fail is simply because they lack the right knowledge and trading ideas to succeed in this market,even if you use good money management and you do not have a good trading system you will still fail as a trader,you must develop a sound trading method to succeed as a trader.

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    Quote Originally Posted by BOSST View Post
    The major reason a lot of traders fail in this market and will continue to fail is simply because they lack the right knowledge and trading ideas to succeed in this market,even if you use good money management and you do not have a good trading system you will still fail as a trader,you must develop a sound trading method to succeed as a trader.
    Thanks my dear brother to post in my read and share your own point of view. Yes dear, I also mentioned in my post that we have need to learn a proper trading strategy to make our trading career successful. Because, we cannot become successful till we will not do trade as a technical trader.

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    Registered user famousfx's Avatar
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    There are a lot of reasons that may cause failure in trading , and traders in the Forex market must try to avoid them so as to trade successfully , some of them are:
    * lack of good strategy
    * lack of trading plan or failure to follow the trading plan
    * Failure to use money management
    * failure to have continuous practice and learning
    * placing trade without confirmation of signal very well
    * I just must trade altitude
    * Greediness
    * Trading in quiet market
    * Trading against the trend of the market.

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    The reason a of traders fail in this market is very simple,they lack the knowledge and the skills that is require for them to be able to succeed here,and mostly a lot of traders do not take the time to learn very well,the demo account is there for learning but many do not even pay attention to it.

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    Registered user ict2014's Avatar
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    Quote Originally Posted by BOSST View Post
    The reason a of traders fail in this market is very simple,they lack the knowledge and the skills that is require for them to be able to succeed here,and mostly a lot of traders do not take the time to learn very well,the demo account is there for learning but many do not even pay attention to it.
    Sorry to differ with you. To learn money management not need technology, high risk always brings bad luck and no need to call modern technology to explain it to follow or not follow. We need a positive attitude. To learn technical term we need time and good teacher or mentor such as price action or indicator indication. A trader must be honest and moral and also be aware of what is his duty then trader knowledge and a good attitude can develop his trading career.

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    Registered user Sixteen's Avatar
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    Many traders have really failed due to bad management, lack of knowledge, greed, emotional imbalance, and impatience. These are key things that so many traders have always fail to live up to and that's why they must have easily loose their investment. Failure should be a lesson that will give us experience to improve but if we make it t habit to keep repeating failures, then we are really our own problems. First a trader must identify the reason he failed and look to work on developing from it.

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    Registered user jamey's Avatar
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    I think traders fail in forex again and again because of they can not control their emotion and they can not keep patient. The main reason is they don't watch to take loss, if they loss any trade then they open another trade again and they are looking for new new indicators everyday that is the reson.

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    Realize that this is the world market, our job is not to control the market but to control ourselves. If you cannot control your emotions, you cannot control your money (by. Warren Buffett).

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    Quote Originally Posted by Sixteen View Post
    Many traders have really failed due to bad management, lack of knowledge, greed, emotional imbalance, and impatience. These are key things that so many traders have always fail to live up to and that's why they must have easily loose their investment. Failure should be a lesson that will give us experience to improve but if we make it t habit to keep repeating failures, then we are really our own problems. First a trader must identify the reason he failed and look to work on developing from it.
    The number one reason is lack of knowledge,a lot of newbies do not spend time to practice the way they should practice,they just jump into live trading without doing enough of demo trading and that is the number one reason for failure,the number one foundation for any trader is knowledge.

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