Why Do So Many Forex Traders Lose Money? - page 3
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There are many reason behind the loosing the money in Forex but i think main reason is lack of knowldge and skills about Forex. Forex is a real business and we can not succeed in Forex if we have no knowldge or minimum knowldge about Forex. So we should have good knowldge about Forex to be successful.
The fact is that most traders, regardless of how intelligent and knowledgeable they may be about the markets, lose money. Here are some reasons why traders lose money:
1. Low start up capital.
2. Failure to manage risk
3.. Greed
4. Indecisive Trading
5. Trying to pick tops or bottoms
6.Refusing to be wrong
7. Buying a System
yes, trading without sufficient knowledge and skills it will only lose. for that, we should have a good preparation before start trading in a real account. besides, many people starting to trade forex with greed. so many have failed.
There are many reason why some traders fail. Most traders lack discipline by not following strictly to their trading plan . And also they also fail to practice money management even when they are aware of its importance.
if we are not careful when trading then we will have a lot of loss, therefore we need to be careful when trading and we have to improve our trading skills so well that loss can be minimized by good
a new car driver goes to a driving coach.tells him teach me driving in 2 days - i pay you as much as you charge me 2000 usd or 5000 usd.
the driving instructor says-sorry- you need coaching 6 weeks to 13 weeks every day. impossible to teach you in 2 days or 5 days. you wont become a good driver.
driving is a skill that comes out of right coaching-right practice.
the skill resides in sub conscious mind.
skill, not knowledge is what is required.
skill has to be transferred from a real skilled professional to new trader over a period of time.
seeing a pro trade or observing may not help unless the pro reveals his ways and secrets wholeheartedly.
google has knowledge.
pro trader has skill
google can never teach you how to trade profitably. a pro can do.
knowledge speaks boasts shpows off
skill gets the job done. it simply does nt talk . skill does perfect job.
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got it?
have no trading skill?
get it.
Yes, the bitter reality is that only 5% of Forex Traders make any money at all. Even hedge fund owners and bankers lose money once they try to trade on their own. This happens because they're used to trading according to a set of rules that their employers requires them to trade by. But when they leave their employer, those rules go out the window and they have to manage their own internal motivations. This is how greed and fear can get the best of even the most knowledgeable traders. Shockingly, a lot of these traders end up having to "fall back" on teaching what they know and YOU end up paying them thousands for a training seminar. [Mr. Ezekiel Chew]
lack the skills, knowledge and a lot of experience is a factor, a trader loses money. Forex is a business that has a high risk, the risk that it is to succeed in this business, we need to learn and practice many trading well. and always use the SL and TP when trading will make the risk can be minimized by good
forex trading is a zero game, if one loses money then some one else is earning and vice versa!
loss is a common thing in forex trading. With the loss then we can get a lot of benefit, therefore we need to always improve trading skills are good, with extended capabilities will help us to improve trading results and a loss can be minimized. many traders who lack the skills loss due to trading
Fear losing money is one reason why most traders fail even when they have the best strategy. In forex in order to succeed you must eliminate fear so as not to affect your trading decision in forex trading.