Reasons for 95% losers in Forex!
- Thread starter topfx
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Greed is the worst enemy. I lost my deposit this year just because I wanted to gain more and more and started to trade on Christmas holidays... If I would wait for a couple days I would earn more. But I lost while I was trying to make just +1% of profit
Bad time to trade that...Greed is the worst enemy. I lost my deposit this year just because I wanted to gain more and more and started to trade on Christmas holidays... If I would wait for a couple days I would earn more. But I lost while I was trying to make just +1% of profit
https://www.earnforex.com/forum/threads/technical-analysis-does-not-give-any-edge.35703/
most losers use technical anylysis
most losers use technical anylysis
Fear and Greed! But mostly fear...In any market even in life.... Fear of taking losses and fear of taking profits. Fear of taking losses because most people are afraid to take that initial small loss which usually turns into a much bigger loss. Been there, done that... Fear of taking profits because most people will take a small profit in fear it will disappear instead of having patience and discipline to trade the plan. The net result is bigger losses and smaller winners, If you do the math you will never be successful. It's just human nature... but that's why God gave us a brain and free will so we can discover these things and just flip it around.
Lack of understanding of how market works, poor risk management and emotional trading. Most trader blow their accounts in days or even hours. Lack of discipline as well, and lack of patience. Traders go live earlier than they're ready.
this is interesting. i am the opposite. i prefer manual trading. i feel so out of control with EAs.and have you used the same service or keep switching EAs or you build them yourself? sorry for so many questions
I prefer automatic with manual. for example, copy trading an individual. I think there are different types of EAs. some tend towards failure over time like the martingale one.
A lot of people come into the industry with unrealistic expectations. That's a major reason tbh.
I absolutely agree with you. It is not a case that the vast majority of scam broker and traders sell fancy technical indicators.
Hearing the statistics is depressing and intimidating, especially for those that are only considering becoming a trader. I think a large percentage of that number comes from people that get the wrong idea about trading (typically from gurus, guaranteed signals, mentors, shiny broker websites), etc. so they set out thinking they'll get rich quickly. When the reality sets in, I think a lot of them just abandon the concept of trading and move on to the next idea. With that considered, there could be more successful traders if more people put their minds to it.
Many people lose money on Forex, but many know how to make money.
To learn how to trade you have to follow experienced traders closely.
To learn how to trade you have to follow experienced traders closely.
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