What are the biggest reasons of losing Money in forex - page 9
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One of the biggest reason traders loss money in forex is inability to control emotion. some traders allow their emotion to over ride them when opening a position, impatient is another problem, likewise greed.
You only lose what you cling to.
Most people lose money because of greed, lack of understanding about forex, failure to analyze the market, impatient. Most traders also lose money because they feel forex is all about get rich quick.
one main reason is that some trading system and strategies are very hard to comprehend. How can someone be able to pull off something if they can't even understand it. If you want to benefit from a system, it should be simple enough for the average trader to understand. Like forexholygrailsystem dot com. It is very accurate, works in all market conditions, plus it is very easy to understand. It is very helpful for eurusd pair but you can also use it for other pairs
Hi All,
To overcome the biggest reason of losing MONEY in forex is...........KNOWLEDGE........
1) Most of us trade use an indicator (tools)..... so try and find a few reliable indicator out there...
2) Learn to familiarized yourselves with those indicator...
3) Modify and compare the outcome of this indicators...
FIND THE FOLLOWING ANSWER......
1) trend
2) entry and exit point
3) What are the main currency (GBP, EUR) doing....
A reliable indicator would sum up the 1)trend, 2)entry and exit point....
3) Main currency ...... to observed whose pushing.....
And rest is up to how much capital one's have.
The risk and rewards expected are according to that reliable indicator.....
All the emotional could the eliminated if you have the right tools for the job....
The last thing is always be alert on forex news.....................
All the best,.........
As any game based on a possibility to change your life, biggest reason for loses in forex is hope
When you start thinking like "This year I will make some sum, next year it will be more and then I will be able to do only that and be free of all the nonsense and stupidity of the men in groups doing "job"". Hoping that forex can change our life blinds us. Better to take it as a game : "either I will succeed or not" way than to think that it will bring us what we are hoping for for our whole life : freedom
impatience
over trading
emotions
lack of knowledge
over confidence
gambling
Greed and a lack of knowledge.
That's why as a trader, we must try to learn and improve our trading skills if we want to get maximal result in forex trading. We can try to learn from video tutorials, and use demo account to trade in forex trading. The experience will help us to understand about forex trading.
Underfunding, too much hope
Traders lose money for different reasons but the most common reason why traders lose money is, lack of proper forex knowledge, greed, impatient, some traders tend to revenge when they run at lose which always lead them to losing bigger than what they had expected earlier.