What are the biggest reasons of losing Money in forex - page 4
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1. Impatience
2. Arrogance
3. No understanding of money management
4. Constantly testing out new indicators
5. Opening an account with too little capital.
6. Scalping/trading short time frames. They're noise!! (except maybe if you have an account that affords .5 pip spread)
7. Ignoring news releases!
8. Not understanding how trends work. (impulses/corrections)
9. Using 20 indicators when 1 will do. Your eyes.
10. Not understanding the concept of support and resistance
11. GREED
12. Inability to cut a loss. (Related to greed)
13. Trading in low volume and falling MFI. (AKA, "trading the fade")
The biggest reason is low learning level of trading withwhich they start trading. They want high targts in start. It is not possible to make profits all the time. Traders had not skill and experience of trading as well as they ae low in thier emotional control . Yhey are not patience and hard working to get their goals.
One of the greatest mistake that most of the newbie traders do is that they start trading without much practice in demo account and for this reason they face huge loses in their real account.
I think greedy nature is the main reason to loose money in forex market. We should control our greed and must control our emotions also.
biggest reasons for losing money is lack of forex trading related knowledge, lack of account management skill, lack of emotional control.
In my view
1) Technical analysis
2) Fund Management
3) Risk Management
and most important
4) Trading psychology
the main four pillars of successful trading
People lose money - because it's the market of Forex. It's vulnerable and unpredictable. Also lack of discipline, knowledge, and tactics helps them to get only losses.
Speculation has to do with taking advantage of opportunities that most others fail to see; and this is usually done before others see the opportunities. Unless in some obvious cases, the most common means to harness gains in the markets is when the price moves downwards after a short position is opened, or when the price moves upwards after a long position is opened.
I was losing before because I didn't do much practice in demo account or even if I did, I didn't do it seriously. So I adapted one strategy and demod it seriously for one month, upon getting good results I started again in live account and that was satisfactory.
I was losing before because I didn't do much practice in demo account or even if I did, I didn't do it seriously. So I adapted one strategy and demod it seriously for one month, upon getting good results I started again in live account and that was satisfactory.
One month trading is not so good. But if you have a good trading method. No need to worry. Always trade with small lots