- Overtrading. Overtrading - either trading too big or too often – is the most common reason why Forex traders fail
- Not Adapting to the Market Conditions
- Poor Risk Management
- Not Having or Not Following a Trading Plan
- Unrealistic Expectations
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There are lots of reasons responsible for failure in forex trading. Some of them include greed. When you are too greedy, you can easily fail in your trade because the profit you are making in a trade can blindfold you and cause you to continue when you ought to withdraw. Also, over confidence too.Forex trading is profitable despite the many risk involved, while many have made huge profits from the market, many other are counting the loses daily.
But what are the major causes of failure in forex market especially for young trader?
I will list 3 that I know of:
1. Impatience in the learning stages.
2. Lack of proper mentorship.
3. "Make it fast" syndrome.
What other things do you think is are the causes??
I have seen a lot of ads about Forex trading but they are more like prediction and it's not what I think Forex is all about.
I'm still looking at who would mentor me on how to trade myself.
There are many reasons people keep on failing in forex trading. One among such failings which infact is a major one is greed. Greed makes you think the profits you've made or have been making will stay constantly increasing, untill you loose all your money.Forex trading is profitable despite the many risk involved, while many have made huge profits from the market, many other are counting the loses daily.
But what are the major causes of failure in forex market especially for young trader?
I will list 3 that I know of:
1. Impatience in the learning stages.
2. Lack of proper mentorship.
3. "Make it fast" syndrome.
What other things do you think is are the causes??
Misuse of assets properly.Forex trading is profitable despite the many risk involved, while many have made huge profits from the market, many other are counting the loses daily.
But what are the major causes of failure in forex market especially for young trader?
I will list 3 that I know of:
1. Impatience in the learning stages.
2. Lack of proper mentorship.
3. "Make it fast" syndrome.
What other things do you think is are the causes??
Trading addiction is another reason why Forex traders tend to lose money. They do something institutional traders never do: chase the price. Forex trading can bring a lot of excitement. With short-term trading intervals, and volatile currency pairs, the market can be fast paced and cause an influx of adrenaline. It can also cause a huge amount of stress if the market moves in an unanticipated direction.Forex trading is profitable despite the many risk involved, while many have made huge profits from the market, many other are counting the loses daily.
But what are the major causes of failure in forex market especially for young trader?
I will list 3 that I know of:
1. Impatience in the learning stages.
2. Lack of proper mentorship.
3. "Make it fast" syndrome.
What other things do you think is are the causes??
Some people always believe that they can do everything without the proper guide and to think that they will try it with forex trading is very crazy. Forex trading isn't something you learn online or watching YouTube videos, you need proper lesson to be good at it.Not having a good mentor will wreck one of there hard earned resources in no distant time. This is one big challenge you will get by trading in Forex alone with a mentor. So, it is very important that you relax and wait for who can mentor you in order to have a better understanding of how forex works.
Some people always believe that they can do everything without the proper guide and to think that they will try it with forex trading is very crazy. Forex trading isn't something you learn online or watching YouTube videos, you need proper lesson to be good at it.
I can remember when I was still new at freelance writing jobs, I tried doing it all on my own without no one guiding me and I made a mess of things that almost cost me my account. It was when I was eye opened on the importance of having a mentor.It's laughable to see people think that everything can be learnt on the internet. If you have noticed, you won't achieve everything by learning online. There are things you have to focus on and as long as forex trading is concerned, an offline mentor or a serious online mentor is key.
Exactly, most people especially those who are new to forex trading seems to be very greedy with how they trade. They don't know how to work with their margins of profit and loses which makes they act in a greedy way and tend to lose a lot of money.It is said that the failure rate in the forex industry is very high, with more than half of aspiring traders expected to drop out of the game within their first few years of trading. They don’t listen to the market. They don’t enjoy trading, and lastly, they set unrealistic expectations.
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