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Topic: Why are 98% of traders unsuccessful?

I think 98% traders unsuccessfully because they do not know how to make money at this market? Forex success depend on proper money management, vast knowledge and skill, proper Fundamentals analysis and technical analysis, use on Signal and indicators etc. Right time and right decision is necessary in every stage for trading.

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Re: Why are 98% of traders unsuccessful?

When we will find and are able to afford professional mentor in the forex journey, then we will succeed must faster.

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Re: Why are 98% of traders unsuccessful?

Somewhere I listen the 95% traders and somewhere I listen 98% traders.. exactly I don't know exact how much

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Re: Why are 98% of traders unsuccessful?

because nobody wants to learn the rules and just make easy money fast!

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Re: Why are 98% of traders unsuccessful?

Traders usually fail because they have poor risk management and start trading with an account which is too small.  Starting on a small account encourages risky trades for fast growth.  Being disciplined and not getting emotionally attached to the trade is key, make a plan and stick to it.  Also failing to take profit on a healthy winning trade is another common mistake.  In summary, planning, discipline and conservative risk management are key to not failing.

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Re: Why are 98% of traders unsuccessful?

That's right, as trader you can go 2 ways. First is the slow way with low risk, and second one is the fast way with high risk.
Many unsuccessful traders choosing the fast way, and enter the market with high lot size.
Then when it goes up when you have a sell, you are loosing money really fast. example: after 2 minutes you lose $150,-
So better to keep lotsize low. 0.01 / 0.02 but I don't recommend to go much higher then that. so then you don't lose $150 but only $2.

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Re: Why are 98% of traders unsuccessful?

Everyones dreams its to make money fast without leaving home and keep on the couch, but people forgot that everything has its dificult and forex its a lot difficult to learn,

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Re: Why are 98% of traders unsuccessful?

I think large number of traders fail in forex markets due to lack of knowledge and overconfidence. Forex is all about keeping patience and trading well. You need to study markets accurately, follow the trends, know about fundamentals and technicals of the market and then only trade. In the end, i would say, know yourself well first i.e your risk tolerance and make goals for success in forex.

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Re: Why are 98% of traders unsuccessful?

Traders fail because they see charts and advertisements all over the web that say:

Work 10 hours per week and make $5000 or
Become a successful trader in 10 easy steps

Or something like that and they think those are honest representations of what can actually happen for them will little or no effort.  The reality is it takes a lot of research, self awareness, patience and practice to become a good trader.  Either that or you pay someone who is successful to trade for you.

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Re: Why are 98% of traders unsuccessful?

Hi there,
Sometimes market movement is kind of hard to be predicted! Every expert also once was a newbie as well! If we work harder and not give up easily, I believe we can be the 2% of winners! Cheers

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Re: Why are 98% of traders unsuccessful?

in forex market 98 % of people fails due to their greediness, if a trader is not greedy he will not lose.

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Re: Why are 98% of traders unsuccessful?

km0342 wrote:

in forex market 98 % of people fails due to their greediness, if a trader is not greedy he will not lose.

I do agree with you.  I've experienced it...increasing risk, which will lead to '0' balance in the account...
the best way is to have a good money management in place when trading.

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Re: Why are 98% of traders unsuccessful?

The reason 98% regarding forex merchants and unsuccessful because most of forex traders in lose in Forex trading programs do not have to be exact most forex traders do not have any plans for your forex transactions.

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Re: Why are 98% of traders unsuccessful?

Maybe because 98% of trading don't have a close system (with rules for enter and get out of market, filters, ect..). A close  and tested system  is the key to profit constancy.

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Re: Why are 98% of traders unsuccessful?

Most difficult is to stay at the system - and take on time some losses

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Re: Why are 98% of traders unsuccessful?

traders do not have the education they need before they begin to trade.

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Re: Why are 98% of traders unsuccessful?

I will just say one word, which i think is the biggest problem - emotions

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Re: Why are 98% of traders unsuccessful?

i think the bi ffactor why people unsuccesfull on forex trading because of trading psychology like greed and anger. well i dont reall know either

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Re: Why are 98% of traders unsuccessful?

maybe it's bad risk managment?
people let their emotions get the best of them

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Re: Why are 98% of traders unsuccessful?

I think, emotion is the biggest factor to be tackled in advance.

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