Why so Many Traders Fail at Forex ?

I think many trade fail because many reason :

* they think forex is easy and just try forex without good knowledge and they get fail but never learn again..
*they make wrong decision because they can't control emotions when trading
*they just try demo account and success but they doesn't understand gap between real and demo account
* greedy, if trader closed order they maybe get profit because want more they still open the order and finally they just get loss

:LOL:
 
Fear is next point. Most of the new traders fail in forex trading due to above mentioned reasons.

I agree with you. Fear is one of the most reasons why we may suffer losses in the forex business. Sometimes traders have the fear or do not have the confidence in them before opening a position whether they will grab profits or not.

We must learn and find informations as much as we can so our trading will be improved from time to time. I think that is important to all trader although for profesional/expert traders. All traders need to learn something new everyday because there will always something new in forex and also there will always any new informations in Forex. As we knew, forex is developing until now, in the past it's similiar with stock, only rich people that can trade but now for all people. So we must know the movement of Forex and its news.
 

angelnish

Active member
Fear is next point. Most of the new traders fail in forex trading due to above mentioned reasons.

Hi Patricia,

Here are 3 Steps in Dealing with Fear:

1. Embrace fear

Fear is part of human nature and everybody experiences it, so embrace fear and focus on dealing with it.

2. Identify the source of your fear

Did the funny tingling in your tummy come from valid reasons like a break in support and change in market sentiment, or was it just because you had a nightmare about your trade the night before? Learn to identify the good kind of fear from irrational fear so you can focus on acting on it.

3. Use fear to make better trading decisions

Once you pinpoint the source of your fear, make the necessary changes in your trades. This way you have turned your fear into an area of growth and improvement.

As super trading coach Brett Steenbarger says, "Confidence isn't the absence of fear; it's the knowledge that you can perform your best in the face of stress and uncertainty."

So...don;t be afraid and apply this strategy in your trading life.:)
 

Patricia12

Active member
Hi Patricia,

Here are 3 Steps in Dealing with Fear:

1. Embrace fear

Fear is part of human nature and everybody experiences it, so embrace fear and focus on dealing with it.

2. Identify the source of your fear

Did the funny tingling in your tummy come from valid reasons like a break in support and change in market sentiment, or was it just because you had a nightmare about your trade the night before? Learn to identify the good kind of fear from irrational fear so you can focus on acting on it.

3. Use fear to make better trading decisions

Once you pinpoint the source of your fear, make the necessary changes in your trades. This way you have turned your fear into an area of growth and improvement.

As super trading coach Brett Steenbarger says, "Confidence isn't the absence of fear; it's the knowledge that you can perform your best in the face of stress and uncertainty."

So...don;t be afraid and apply this strategy in your trading life.:)

Thanks angelnish to share tips to deal with fear during trading.
 

angelnish

Active member
Thanks angelnish to share tips to deal with fear during trading.

Hi Patricia, You are welcome dear.
It is a great pleasure for me to have the opportunity to participate in the discussion of this excellent post! I wish to extend my thanks for that.:)
 

NVP

Legendary member
Hi All

As in all things in life - trading is just about having a strong and consistent decision making process that will generate a surplus of positive outcomes over time

and most people cant even decide what to have for dinner.....so god help us all

N
 

hgh

Active member
Stop Loss, the greed makes people lost the respect to the market. Most people can't control themselves. no stop loss of the trading. this lead to the fail.
 
Main reasons for failure is lack of preparation, management and exit
You are right.
For any individuals to begin a profitable forex trade, intention and desire should be established, you do not have to trade forex because your friends are making money from it, there must be genuine intention on your part.Then the next step would be to acquire the basic knowledge and fundamentals skills of trading. (y)
 

hgh

Active member
1. Make it a rule to only risk 1% of your capital in any one trade. This is to minimise your losses.

2. Educate yourself so you can recognise your chance to strike but also recognise when it is neccessary to withdraw. Learn to read the conditions of the forex battlefield. Great generals of the past would spend years learning battlefield tactics, luckily we can achieve this in a couple of months.
 

TheLastBear

Active member
Many traders fail because they subscribe to an idiotic trading philosophy. Most have no idea what the true definition of risk is and blame trading tools for their mistakes rather than their own stupidity.
 

angelnish

Active member
The last Bear , I don't agree with your point ' an idiotic trading philosophy'. Each trader know what is forex and due to this they enter in forex trading. So "an idiotic trading philosophy" is not suitable here. Each trader has a trading method. It may be that they choose wrong method or their method is not sufficient for making profit. So Please respect the trading philosophy of each trader as everybody is not 100% perfect in what we do to achieve success.
 

TheLastBear

Active member
The last Bear , I don't agree with your point ' an idiotic trading philosophy'. Each trader know what is forex and due to this they enter in forex trading. So "an idiotic trading philosophy" is not suitable here. Each trader has a trading method. It may be that they choose wrong method or their method is not sufficient for making profit. So Please respect the trading philosophy of each trader as everybody is not 100% perfect in what we do to achieve success.

I am not going to respect a trading philosophy or method as you put it which is not profitable. I agree that nobody is perfect.
 

Just4Fun

Junior member
Hi All

As in all things in life - trading is just about having a strong and consistent decision making process that will generate a surplus of positive outcomes over time

and most people cant even decide what to have for dinner.....so god help us all

N

I love the last sentence of your post above - it sums it up perfectly.:cheesy:
 

angelnish

Active member
I am not going to respect a trading philosophy or method as you put it which is not profitable. I agree that nobody is perfect.

But instead of 'idiotic' you could have used another word so as not to discourage others who are not professionals.
You could have also share some ideas......
 
 
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