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.