Any suggestions on how to stay disciplined?
Why do many traders are failure in Forex market?
- Thread starter Alexis_0
- Start date
Well, many traders fail in the forex market due to a combination of factors, including lack of proper education and experience, poor risk management, emotional trading, and unrealistic expectations. Additionally, some traders fall victim to overtrading, chasing quick profits without a solid strategy, while others may not adapt to changing market conditions or adequately assess the risks involved.%%
THAT+ wonder why 90% dont start a bank, i mean they made good profits lending to US for RE?? Another cardinal reason is we have enough on our plate.
I wonder why all are not named SunT or Turtle T, i mean those are good nicknames LOL
Innumerable number of traders are failure in this market due to lack of trading knowledge.
Hi all, hope you are well.
I'm very glad this question was asked. I'm personally on a mission to change this fact.
I believe people trade for two reasons primarily, (1) To take trading up as a profession/financial independence or (2) To build a new source of income. In my opinion, this should be encouraged! However, facts as above form discouragement.
One of my favorite's, Nikhil Kamath, founder of Zerodha, says that Trading is like Dating. This is because just as one would like to have a prolonged relationship which requires clarity, constant refinement, and willingness to adapt/learn, trading does too.
The truth is, you can have a perfect strategy but if you do not know how to execute it best, you will always fall. Curiousness goes a long way, having access to information and being able to interpret is right is further more important.
Have you ever experienced being in profit on your Demo account but not on your Real account? It's the little things with collated together that impact performance.
I'd love to, with all of you, solve this problem/break this fact down and help encourage this as it is complex yet beautiful.
Let me know if there are any topics I can help you with.
Check if these topics help you in any manner.
I'm very glad this question was asked. I'm personally on a mission to change this fact.
I believe people trade for two reasons primarily, (1) To take trading up as a profession/financial independence or (2) To build a new source of income. In my opinion, this should be encouraged! However, facts as above form discouragement.
One of my favorite's, Nikhil Kamath, founder of Zerodha, says that Trading is like Dating. This is because just as one would like to have a prolonged relationship which requires clarity, constant refinement, and willingness to adapt/learn, trading does too.
The truth is, you can have a perfect strategy but if you do not know how to execute it best, you will always fall. Curiousness goes a long way, having access to information and being able to interpret is right is further more important.
Have you ever experienced being in profit on your Demo account but not on your Real account? It's the little things with collated together that impact performance.
I'd love to, with all of you, solve this problem/break this fact down and help encourage this as it is complex yet beautiful.
Let me know if there are any topics I can help you with.
Check if these topics help you in any manner.
Failure in the Fx market is down to one thing.
And the answer is simple.
NO EDGE/STRATEGY if you don't have a proven trading strategy with a proven edge, you will blow your account. some quick , some slow, but you will blow your account
If you have good money management,
proper education in the FX and financial markets
risk management
You trade without emotional trading
You don't have unrealistic expectations
You are not a victim to overtrading
You do indeed have a deep understanding of economic factors.
But the above is a given, and should be a necessity in the part of your strategy.
But without the EDGE you will blow the account.
And the answer is simple.
NO EDGE/STRATEGY if you don't have a proven trading strategy with a proven edge, you will blow your account. some quick , some slow, but you will blow your account
If you have good money management,
proper education in the FX and financial markets
risk management
You trade without emotional trading
You don't have unrealistic expectations
You are not a victim to overtrading
You do indeed have a deep understanding of economic factors.
But the above is a given, and should be a necessity in the part of your strategy.
But without the EDGE you will blow the account.
Smith FX ,Unsure what you mean (The market wants practical Knowledge) but regarding (sufficient knowledge on market behaviour) IMO it boils down to recognising reoccurring patterns on the charts TA which allows you to trade of off, which requires hours and i mean a lot of hours to recognise these patterns.
When i started out on the trading road , i was under the impression it was all news / fundamental based (but that didn't work for me ) i use the news Yes , only to stay out of the market at the time of the major news releases related to my chosen fx pair . as i believe one important point for me is there is a time to trade and a time to stay out of the market.
There is the other way of trading , by using the indicators that come free with your trading platform, didn't work for me, but am sure there a traders here who use them with great success.
In my view, there are various reasons why traders fail in the market such as lack of proper education, emotional decision-making, and underestimating the importance of risk management. It's crucial to approach trading with realistic expectations and a solid plan to increase the chances of long-term achievement.