some people or more wanna go casino but come to trade
here some question to ask your self.
why you take this trade?
are you trade with the rule of system?
do you using money management?
and when to take trades?
write down the notes. you will find out what is weakness on your part that you have to work on.
why most trader failed?
they think the market going to that direction
so they do not have a system to trade.
they hope for the best...
no stop loss.
I do not agree that most people lose due to lack of knowledge. I believe most people know how to trade the market but they have yet to learn know to control their greed and fear.
Humans are by default greedy. Trading is very often counter-intuitive.
That's means we must recognise that we are greedy and do what we can to handle that emotion. If we don't, then we end up risking more than we should and blow off our account.
The only way to take emotions out of trading is to create a trading plan and FOLLOW it. A trading plan should dictate how a trader approach the market and decisions on trading and managing their trades. Without a plan, a trader will trade based on gut feel and emotions.
newbe z zzzzzzzzzzzzz
I agree that many people lose money because of their greed. But there are other factors which influence on it. Lack of knowledge, bucket shop, and bad equipment for trading.
It is simple! When you lose your head you lose your trade. Greed and fear are the most common enemies of trading.
Have a clear plan (strategy) before trade and test the strategy first on demo it doesn't matter what others (experts) say.
Only results count! Most trades I lost it was EAs - EAs are useless. Demos are easier to trade than live accounts! At live account the broker or his software is trading against you. He is playing chess with you. They study your strategies and counterfeit it. E.g. if they see that you always buy after price above 50SMA and sell below 50SMA they will wait for you behind the corner. You must be a weasel!
Traders loose money probable because they ignore simple trading principles.Like failing to apply stop loss or misinterpreting market trends. Others loose money money because of their get rich quick attitudeTraders loose money probable because they ignore simple trading principles.Like failing to apply stop loss or misinterpreting market trends.
Others loose money money because of their get rich quick attitude
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Loosing in forex is quiet easy if not proper knowledge is gained about the market. We often fall into wrong hands and thus loose money also the time spend in investing.
So oldman, are you making money consistently? If you do, maybe you can share your thoughts. But I do know a lot of traders who trade for years and yet keep losing their money.