Why people fail in Forex
Why 80 yo 90 percent of people fail in forex? What makes the other 10 percent people successful? Every forex trader should remember two main factors to remember.
Patience Discipline
Just by understanding these two qualities, you can become a better trader than before. Discipline in forex is very necessary. Some people do forex trading as if they are playing some fun game. Most people say that make a strategy in forex (using demo account) and if it is successful use it in real account. But those 90% percent never stick to it and they continue trying something new. If you cannot even obey your own rules and strategies and try to follow your childish innovative strategies then there is no success for you. Patience is another important factor. Most of people lack patience. I repeat the above example. Most of the traders make strategy just within 1 week or maximum within 1 month. Another big reason of failure. Traders do not have enough patience and they want to become millionaires as soon as possible. Traders are not willing to spend time on practicing forex. In the end they loose everything. Be patient and success is yours.
Even if you know very little about forex, but you have the above two qualities, you can become a successful.
Bee There is no term like "sufficient money". So aim for a satisfied life.
Hey Bee. nice post
Stick to your rules
If we look at ourselves. We can see the lack of these two qualities which makes us fail.
very nice post dear ... but all traders know that but no one follow that
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Originally posted by sadscorpionvery nice post dear ... but all traders know that but no one follow that
Thats true. All traders know these things but they do not follow. Patience and discipline is key to success. But when traders start trading they forget these things. They dream of earning most $$$ in least time. This dream makes them impatient.
Originally posted by Sasha
Originally posted by sadscorpion
very nice post dear ... but all traders know that but no one follow that
Thats true. All traders know these things but they do not follow. Patience and discipline is key to success. But when traders start trading they forget these things. They dream of earning most $$$ in least time. This dream makes them impatient.
I agree because I have experience being like these. But there are still many factors that makes a trader lose...
I am a hosted slave beta.
nice quality post
One word.. "Overleverage" New traders fail because they trade with very large positions relative to their account size. That is the hardest thing to learn is money management.
Originally posted by BeeWhy 80 yo 90 percent of people fail in forex? What makes the other 10 percent people successful? Every forex trader should remember two main factors to remember.
Patience Discipline
Just by understanding these two qualities, you can become a better trader than before. Discipline in forex is very necessary. Some people do forex trading as if they are playing some fun game. Most people say that make a strategy in forex (using demo account) and if it is successful use it in real account. But those 90% percent never stick to it and they continue trying something new. If you cannot even obey your own rules and strategies and try to follow your childish innovative strategies then there is no success for you. Patience is another important factor. Most of people lack patience. I repeat the above example. Most of the traders make strategy just within 1 week or maximum within 1 month. Another big reason of failure. Traders do not have enough patience and they want to become millionaires as soon as possible. Traders are not willing to spend time on practicing forex. In the end they loose everything. Be patient and success is yours.
Even if you know very little about forex, but you have the above two qualities, you can become a successful.
there is no specific measuring about this, from where and till where..if newbies or new traders and the they make some mistakes , all is normal because they still in process for learning and practicing and even the expert too will get some loses too but they can handle it with fast..
so you guy, do not think abpout fai, just do what you can do in front of you with well...do not turn your head to back
There are many reasons why people fail in forex and they can be lack of patience , discipline and basic knowledge and analysis , not able to control the emotions or absence of a profitable trading plan or not practicing in demo account .
Frequently, traders do not have enough control over their emotions and can not resist the temptation of quick profits with excessive leverage, that's why they lose every time.