many who have lost money in forex because it does not have enough ability and experience to be trading well. And do not have good risk management such as not using SL when trading is also one of the causes of many who had lost money in forex
The main reason about the failure of the Forex traders according to me is the lack of knowledge about the Forex, and its current market situation.
money management and good risk management is indispensable in forex trading. traders who lack risk management and good money management will make us able to experience a loss, this is what makes the trader is losing money
Many traders who suffered loss because they do not have good risk management, with good risk management will enable us to minimize risks and maximize our trading well. For that, we have to use SL when trading
The reason why people loss money in forex is marjorly based on the fact that everybody want o earn fast money and not learn.
Learning is the only thing that can bring earning.
Many traders who have lost money in forex because it is not able to control the emotions. emotion is one of the causes of client loss, for that, we need to have good emotional control
It is sad that a lot of traders are not making good income from the forex market. Well this doesn't in any way mean that the forex market is not profitable. Traders make some critical mistakes while in open positions that tends to make the trade a losing one. An example here is that all I have on me is $5,000, and I can not afford to lose the money. Yet I deposit such money into my trading account wanting to enter a trade say going long on the USD/CHF with $3,000. Now I have violated two laws of trading; first the $5,000 wasn't my risk capital so I shouldn't have traded with it in the first place. Two, I shouldn't have placed a trade with $3,000 at a go since $3000 far exceeds 2% of my margin which I should normally risk for one position.
lose money in forex because it caused us lack good trading psychology. Forex is a business that has a high risk so as to be successful then we need to have a good psychology. And we also need to always use the SL and TP when trading
we need to have a good trading strategy in forex trading, because by having a good trading strategy that will allow us to minimize the risk properly. And we have to execute a trading strategy with discipline to be successful in forex
Yeah, Forex Trading is requires a good strategy, and each strategy is not beneficial for each trade and thus we need to change it consequently.