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Why do people fail in forex?

Topic: Why do people fail in forex?

The number of reasons why people fail in forex trading, without a shadow of doubt is lack of adequate trading skills, forex knowledge and experience needed to do it right all the time. This can be avoided by opening up a demo account to gain experiences, and reading up on forex books to gain knowledge. In this way, at least, you won't be one of those people who fail in forex trading.

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Re: Why do people fail in forex?

that is all very true, it takes a lot of focus and perseverance to finally be profitable in forex

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Re: Why do people fail in forex?

I guess people want to make money quick. I used to be like that myself before. If you are setting your stop loss in the right place and make your account grow slowly it will finally grow. Trust me. Don't rush.

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Re: Why do people fail in forex?

forex have a lot of indicators and these take time to understand how to use the main. also the robots don´t work all the time, it depends of the market,

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Re: Why do people fail in forex?

Agreed. You must know clearly about the forex itself before starting forex trading.
Ebook, video as well as a good forum is very helpful

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Re: Why do people fail in forex?

I think many poeple think forex is the fast path for making money.
Trading with risky and end with fail without money management

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Re: Why do people fail in forex?

IN my view Risk Management & Mental Discipline is key to success or failure as a trader. Hardwork on setting up strategies is also equally important but only after above two.
So

Risk Mgmt > Mental Discipline > Strategies

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Re: Why do people fail in forex?

ggreed, emotion, lack of discipline so its can be implicate that people fail because not really know about trading psychology

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Re: Why do people fail in forex?

I think the problem is about wanting too much too fast and about discipline, as already mentioned. You can't always win and you won't become rich in like no time. Be patient and test your strategy on demo.

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Re: Why do people fail in forex?

forex is a little but complex for me since i'm a beginner that's why i fail.

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