What are the biggest reasons of losing Money in forex
Correct. But sometimes greed (I mean higher lot size) is good for making money. The weaknesses you have outlined above can be capitalized by having discipline and patience.
Not thinking but "feeling"
First Step towards success in Forex ...is choosing Right & Reliable Broker.... so as per me ...If you are careless while choosing your broker ..will be the strong reason to loose money..i have made my right Choice with " SAXfx" ...
I would say ignorance.
No doubt the strong leverage is one of the causes of failure for most Forex traders
Holding on to losing trades and giving them too much space to get there
most people lose money because they don't analyze charts much and they don't give much credits to signals. I think these are fundamentals to trading that we should not ignore.
There may be several reasons according to trading personalities.
But common reasons are get rich quick mind, revenge trading, greed and fear, underestimate risk,etc
Holding on to losing trades and giving them too much space to get there
Cut the losses early is a very good thing to get out of losses quickly. At the same time it is also essential to let the winners run.
First Step towards success in Forex ...is choosing Right & Reliable Broker.... so as per me ...If you are careless while choosing your broker ..will be the strong reason to loose money..i have made my right Choice with " SAXfx" ...
Hello Erik,
Agree that we need to have a good idea about the brokers. But before that we need to develop a good trading system with proper money management techniques. Then only we can avoid from big losses.
Btw I have never heard about the broker you mentioned here. What are the benefits of that broker compared to others ?
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
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No doubt Forex is not easy business.it is so complicated and risky business But we can less the loss of risk if we trade sensibly.Biggest reasons of losing money in Forex are lack of knowledge,lack of concentrate,Greed.Emotional decisions,weak analysis and find shortcut to become the rich man if we over come these weakness then no one stop to become successful Forex trader.