What are the possible problem in Forex?
The only problem we may have is caused by ourselves and we ourselves is the solution for the problem...
Lack of discipline, lack of patience, inadequate trading capital, no risk management, demo accounts and get-rich-quick mentality are among the most severe issues new traders face. You can solve those issues by being intelligent.
Hello all!
One of the consistent themes that I see is traders jumping into the market with very minimal experience. Often times I hear things like “this has worked over the last 3 weeks” or “I’ve been refining this strategy for almost 4 months” – which is great. Just keep in mind that trading has been around for centuries, and those who decide to make careers out of it spend many hours per day, usually for years, refining their strategy and adapting to changing market conditions.
Trading is fantastic, especially FX. Maybe just slow down a little bit, the market will still be here tomorrow and remember that there’s always another trading opportunity.
Best of luck to all!
Brad
Lack of patience and practice is a great problem in forex trading. Often newbie after finding a good system don't practice on it patiently to see the exact result of that trading system.
Can anyone tell what are the possible issue may arise in trading to Forex? And how did you fix that problem?
Mostly the psychological issues. This is not an easy fix. You should train and develop skills over time.
Emotional issues are there to influenceour trading. We are trapped when market is favor we remain open positions for more profit in this way we loose our money . Most important is control on investment and trading to protect you from any unexpected situation . Lack of practice is the main cause for loss in forex.
Usually forex trading problem happen mostly because of the people behind the trading platform, But most of the time people only looking to the trading system and looking for holy grail which can prevent them from losses. Losses is something that is natural even in other business, from losses we can learn and gets better. Other factor that contribute to forex trading problem are: 1. Using bad money management, for each trade have more risk than rewards, example for each trade that have potential to loss $100 only target $10, means if you win 10 times and lose 1 time you will end up in Zero. 2. Bad system, accuracy of the system for 1000 trades below 50%, although this is not the most important factor, but this contribute to trading problem. 3. Lack of knowledge - who is behind the market and why the market move, also don't want to learn will lead to trading failure.
Lack of discipline, lack of patience, inadequate trading capital, no risk management, demo accounts and get-rich-quick mentality are among the most severe issues new traders face. You can solve those issues by being intelligent.
Well summed up LastBear, as for the demo account, they should only be used up to a point where, the new trader has mastered a profitable strategy and from that point demo accounts are to be used for strategy testing only.
PAT
Can anyone tell what are the possible issue may arise in trading to Forex? And how did you fix that problem?
The main issue is that it IS Forex. You must invest hell lot of time in education and money in practice to be somewhat good. And still you may learn a little and earn much less. So, here you go, the truth!
Emotional issues are there to influenceour trading. We are trapped when market is favor we remain open positions for more profit in this way we loose our money . Most important is control on investment and trading to protect you from any unexpected situation . Lack of practice is the main cause for loss in forex.
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Can anyone tell what are the possible issue may arise in trading to Forex? And how did you fix that problem?