Reasons why traders fail in Forex - page 2.

hendra147

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Quote from: Danumsigwasan on December 26, 2019, 09:54:08 AM

It’s no secret that Forex is a great business but also equally dangerous with many people struggling and ending up in wrong zone.

This is where https://www.liberatedstocktrader.com/why-traders-fail-in-online-forex-trading/ can be useful way to avoid making same mistakes that others have made or are making. Only then we will be able to find results that we dearly desire to get.

I agree with rhis statement
"This usually comes in the form of overleveraging, overtrading, chasing the markets, or holding on to trades you know you should’ve exited long ago.”
Holding in forex market is a big trouble, its difficult to get reverse direction, even you get right timing to buy or sell, broker can change the candle, then you get flash pump or dump and lost everything

Gozie51

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Quote from: makolz26 on December 26, 2019, 10:23:09 AM

That's the reality, once there are winners or gaining in trading, some were crying because they lose in trading, which is the sad truth in trading, so if you really don't know what you are doing, other people can manipulate your mind especially those who are whales, they can easily think how you are thinking. Also in crypto, there are just different with what you are trading at but also the concept is same. So, learn, learn, learn everyday to earn later.

About manipulation and whales in forex trading, the whales are not necessarily individuals.
The whale in forex trading are usually the banks that have huge some if money that they can put into trade in a particular direct which can change the dynamics of demand therefore, causing huge movement and either rising or falling price.

socks435

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Don't compare Forex to crypto they are different because crypto is too volatile and Forex takes months or years before you can see some movement and you will need a large amount of deposit compared to Crypto that you can deposit even small amount.

I never experience to trade in Forex but I heard many people here trading on Forex as I know they are making profit. So I think only those people who fails in Forex are those people without patience. It is likely you sell your crypto too early and now the price is increase 1000x this one is the same as what happen on Forex so if you don't have patience and don't trade them on the right time you will lose.

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Quote from: ChrisPop on December 26, 2019, 11:59:36 AM

There are numerous reasons why the vast majority of traders lose money, but if I had to generalise them they are related to discipline and emotions. People tend to think that trading is easy, but after they get a little bit experience in it they realise it is quite the opposite - you need to acquire a powerful skill set.

Most people are very gullible and they believe everything that they hear and when you see the ads that promote to trade in Forex you will see that many of them promise thousands of dollars in a matter of days without too much effort, it is obvious they are misrepresenting the realities of the Forex market in which 90% of their participants lose all their money during the first months or their first year of trading.

If they stated that information instead I'm sure that very few people will risk trading Forex, so while there are a bunch of reasons of why people lose money in the Forex market or in any market by that matter the first one is that they have false expectations about the money that they can make but that is not entirely their fault.

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Quote from: AbuBhakar on December 29, 2019, 08:12:40 PM

Quote from: maxreish on December 29, 2019, 02:44:05 AM

It's all about Psycological actions and emotion. I certainly agree about all of the listed in the article. But let me add up some that wasn't said above;

Stick to your own GUTS and INSTINCTS
Good Management in Trading

Those emotions were being managed now by most of the traders but newbies should really read the article.

Plus having the discipline and being updated can help a lot, I wanted to enroll in a forex trading seminars in my area but the fees were too high to consider that's why I'm taking one step at time in studying. It may seem the same in crypto but they both have different distinction. As we will be needing to focus on different currencies and set ideas on both. Trying to trade forex next year.

If you build your trading activities with this strong foundation, the chance of succeeding will be more higher. Good discipline with things that you'll be doing inside the market gives you much better views on how will you set up your own strategy. Knowing the principles adds up to your edges. As long as you trade using your own ways after understanding this field will give you positive outcome.

cryptoangel

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Quote from: naikturun on December 29, 2019, 11:34:10 AM

Quote from: teosanru on December 26, 2019, 10:09:44 AM

I think not only forex this is truth about every form of trading and humanity in generally. In every type of trading one loses because of their greed to earn money quickly and fear of losing money quickly. But these things can be solved only through constant practice and routine. One has to develop a routine and follow it with discipline everyday. Slowly you will develop a system and you will be following the system blindly without bringing emotions amidst your trading. This is the key to become successful at trading.

yes because everyone is racing to win, I mean there must be someone who wins and losers, if you buy now you expect someone to buy your coins at a higher price, so does that person do the same thing you do.
so it's like a circle that keeps spinning.

Most of the traders are active in all the platform so they invest our money, surely they are all monitor the further hype so forex traders are never loose the money. But some peoples are just play the game for trading so they are loose the money. I think forex trading is not a huge hype and loose so crypto will make good earning for current traffic.

AbuBhakar

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Quote from: maxreish on December 29, 2019, 02:44:05 AM

It's all about Psycological actions and emotion. I certainly agree about all of the listed in the article. But let me add up some that wasn't said above;

Stick to your own GUTS and INSTINCTS
Good Management in Trading

Those emotions were being managed now by most of the traders but newbies should really read the article.

Plus having the discipline and being updated can help a lot, I wanted to enroll in a forex trading seminars in my area but the fees were too high to consider that's why I'm taking one step at time in studying. It may seem the same in crypto but they both have different distinction. As we will be needing to focus on different currencies and set ideas on both. Trying to trade forex next year.

naikturun

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Quote from: teosanru on December 26, 2019, 10:09:44 AM

I think not only forex this is truth about every form of trading and humanity in generally. In every type of trading one loses because of their greed to earn money quickly and fear of losing money quickly. But these things can be solved only through constant practice and routine. One has to develop a routine and follow it with discipline everyday. Slowly you will develop a system and you will be following the system blindly without bringing emotions amidst your trading. This is the key to become successful at trading.

yes because everyone is racing to win, I mean there must be someone who wins and losers, if you buy now you expect someone to buy your coins at a higher price, so does that person do the same thing you do.
so it's like a circle that keeps spinning.

ethereumhunter

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As far as I see, trading forex is more complicated than trading crypto because we need to learn about the analysis, the chart, the trend, the news, and many more. But I don't know what the step to learn forex trading because I don't start to trade forex trading. I think that people can learn more about forex trading, but they need to spend more time to find good sources to start learning. Without having a good effort to learn forex trading, they will not be able to make a profit from forex trading.

maxreish

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It's all about Psycological actions and emotion. I certainly agree about all of the listed in the article. But let me add up some that wasn't said above;

Stick to your own GUTS and INSTINCTS
Good Management in Trading

Those emotions were being managed now by most of the traders but newbies should really read the article.

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Quote from: pundit on December 28, 2019, 01:11:02 PM

There are common reasons why traders fail in forex.
1. Most of the brokers offer high leverage and most of the traders chose high leverage trading.
2. Most of the traders do not wait for the right setup (do not have patience).
3. Most of the traders do not put SL.

and last but not the least, traders start fighting with the market when SL gets hit (If it was put).

Traders should always trade with a proper planning and should accept whatever market offers them. Try to win the market with patience instead of fighting with it aggressively.

That's something else. OP only listed three which were GREED, FEAR and OVERCONFIDENCE. To be honest this are greed is also the reason why some traders are earning a lot. Its not greed like you are committing a crime because of greediness, its just trading we are talking here. The more you try to watch when the price goes up and go down the better you are with trading.

pundit

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There are common reasons why traders fail in forex.
1. Most of the brokers offer high leverage and most of the traders chose high leverage trading.
2. Most of the traders do not wait for the right setup (do not have patience).
3. Most of the traders do not put SL.

and last but not the least, traders start fighting with the market when SL gets hit (If it was put).

Traders should always trade with a proper planning and should accept whatever market offers them. Try to win the market with patience instead of fighting with it aggressively.

veilmoil

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Im using both crypto and fx but at this situation when btc so volatile im focus on forex and crypto just for mid/longterm

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Quote from: palle11 on December 27, 2019, 12:27:58 PM

Quote from: posi on December 27, 2019, 08:16:07 AM

Forex was indeed a great business but not to me ever since I'm aware of crypto currency investment and it good to be inform about the necessary technique to floristh in every business setting or investment but that still don't justify ones profit level for every business accept debt at some point.

Did you say was ? Grin

I think is will be fine because, it is still present in the world all over and many people are making good money still on it.

However, if you confirm to yourself that cryptocurrency trading is giving you good money because you know how to trade it, you can do better with forex because it is controlled or regulated and you can know what happens or near accurate speculation of price.

Indeed, crypto trading is likely similar to forex trading but that is how he appreciates crypto, the same thing that the others do.
I could say that crypto is growing bigger and bigger, thus having crypto in trading is seems to be profitable than forex trading may have. But above all, it gonna depend on how we work on it.

palle11

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Quote from: posi on December 27, 2019, 08:16:07 AM

Forex was indeed a great business but not to me ever since I'm aware of crypto currency investment and it good to be inform about the necessary technique to floristh in every business setting or investment but that still don't justify ones profit level for every business accept debt at some point.

Did you say was ? Grin

I think is will be fine because, it is still present in the world all over and many people are making good money still on it.

However, if you confirm to yourself that cryptocurrency trading is giving you good money because you know how to trade it, you can do better with forex because it is controlled or regulated and you can know what happens or near accurate speculation of price.

justdimin

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Quote from: Danumsigwasan on December 26, 2019, 09:54:08 AM

It’s no secret that Forex is a great business but also equally dangerous with many people struggling and ending up in wrong zone.

This is where https://www.liberatedstocktrader.com/why-traders-fail-in-online-forex-trading/ can be useful way to avoid making same mistakes that others have made or are making. Only then we will be able to find results that we dearly desire to get.

Plus, let's not forget that how strong an economy is depends on the politicians as well. For example if your president comes out and says something stupid and moronic (why is that more common these days) you will not be able to guess what happens to your fiat beforehand, and after he does that it is a free fall.

So, forex people have to follow up every single president and important politician and what they are saying? That is a bit challenging (even tho easier thanks to twitter nowadays) but it is still fair to remind people you are a human and can be late to react even if you follow news every single day. Long story short one mishap from one government could ruin all of your forex portfolio and there is absolutely nothing you can do about it neither.

Dart18

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The list is filled with just emotions.
I think it is normal in trading.

Who else doesnt want more? Yeah that is greed.
Who else doesnt want to loss more. Yeah that is fear.

We all have that same emotion whenever we are facing loss or profit. They dont really fail, they are gaining more experience.

Darooghe

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In my opinion, the most important reason is over-leverage. most Forex traders don't really have any sense of how much risk they're taking on, and think the game is to try to make megabucks on every single trade. ask your typical Forex trader how much their open positions will go against them if the market moves 1% against them, most have no idea. If I had to pick one change between my newbie days and becoming profitable it was worrying much less about picking a correct direction and focusing primarily on my effective leverage.

posi

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Forex was indeed a great business but not to me ever since I'm aware of crypto currency investment and it good to be inform about the necessary technique to floristh in every business setting or investment but that still don't justify ones profit level for every business accept debt at some point.

Karmakid

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The only reason why I think the traders not only in forex but also in other market is they lack on knowledge. Most of the traders that I encounter are aggressive and even me, I was used to be aggressive type of trader. I just jump into the market without having a proper education about managing both my risk and emotions.

Topic: Reasons why traders fail in Forex - page 2. (Read 497 times)