What are the biggest reasons of losing Money in forex - page 2
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As per me..trader should choose their broker carefully...as if your broker is not trustworthy ..trader will loose money even before start trading...
Lack of confidence in what they are doing (their strategy) leading to lack of discipline in what they are trying to do.
The main reason of burning accounts is the lack of discipline when trading, trading from emotions and not from a system.
Emotional Instability
Overleverage
Lack of proper FX knowlwdege
Trading when one should not
Emotional Instability
Overleverage
Lack of proper FX knowlwdegeWould like to add,
* Revenge Trading
* Greed and Fear
* Poor risk management techniques
Irrespective of the trading system you use, you’ll go thru periods of winnings, roll-downs and flat performances. During these periods, you shouldn’t feel discouraged or dejected; eventually you’ll recover your losses and move ahead. Now and then, market wizards’ performances are punctuated by periods of negativity, and there’s no way around this. Ultimately, most of them (especially those who’re good at risk management) would recover their losses and move ahead.
Would like to add,
* Revenge Trading
* Greed and Fear
* Poor risk management techniquesI just recently did 2 of these things. In fact when we go for revenge trading then risk management cannot be done. I have learned a lesson in this loss and will try not to repeat it.
I just recently did 2 of these things. In fact when we go for revenge trading then risk management cannot be done. I have learned a lesson in this loss and will try not to repeat it.
Same here mate. I also learned very good lessons from revenge trading. The best thing is to avoid from trading if you made consecutive losses.
I have figured it out that we have to take this forex trading as full time if we want to earn good in it. As a part time trader I will keep thinking to recover the previous loss in next try.