That's right. There's no shortcut to be a successful trader in forex. The best and the most important way to earn in forex is through complete forex learning and through continuous forex practice to make our trading skills be better and more better.
No one is 100% rational people. When we trade manaully, we would add our emotional thoughts, which could affects our normal judgments. But I trade with my own profitable EA and the stability helps me win in the long run. 6-year ups and downs help me gain lots of experiences. Good luck.
This is why we say different traders have different strategies that works for them.
Yes EA,s can work good for some time to get good profit but they are not reliable for a long time . Traders should avoid to depend on them totally .Develop their own skills on demo account so that they face market by manual trading that is trusty all the time.
yes, we can not entirely depend on the EA because EA is suitable for use in a specific period. Moreover, EA can not work when the market is volatile. Therefore, we still need to improve our trading skills so that we will still benefit even if the market is volatile.
Loss is a part of the forex risk. We can not eliminate the loss in trading. Many factors could be the cause of the loss on trader like psychological. In forex, we not only need a good trading skills, but we also need a good trading psychology. So that the loss can be minimized.
yes, many who have lost money due to several factors, lack of knowledge, lack of skills, greed, emotion, revenge etc.. Therefore, to minimize the risk of losing money, then we should be able to manage the risks in forex well as all that happens is difficult to predict with certainty.
I think trading without knowledge is the basic key of loosing our money in Forex. Forex is a real business and we can not succeed if we have no knowldge about Forex.
most loose bcoz no patience, fear /greedy leads them to grave
Here are some reasons why traders lose money
2)Inability to control their emotions
4)Lack of exposure to the market
6)Not having interest in learning.
7)Proving smarter than their mentor
8)Inability to learn from their mistakes
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