Few Reasons Forex Traders Fail

[Symphonia]

Most traders nowadays fail because they enter the forex market with the idea that it is a get-rich-quick scheme. As a result, they rush in without sufficient training, believing that the time they would spend learning may be better spent making money only to realize it was not what they had imagined.

 

[Hydrogenic]

Surely the top reasons why traders fail! No emotional control is also one of the major reasons for me because most traders can’t control their greed for making money while many can’t trade properly because of the fear of losing money.

 

[Trigonal]

These are just some of the reasons forex traders fail. I feel like this market isn’t for everyone and so it is okay to just leave, however stepping into the market without any proper knowledge is very unwise.

 

[Theanthropic]

There are many reasons why traders fail in forex. Some of them are:

- Lack of knowledge and skills.

- Lack of discipline and patience.

- A trader doesn't have a trading plan to follow.

- A trader doesn't have a proper risk management plan in place.

- A trader is trying to predict the market rather than trade it.

 

[tetramorium]

I think most traders fail because they don’t keep track of how they are performing. They keep repeating mistakes and losing money. Traders need to go through their trading journals to ensure that they are on the right path and make improvements wherever required.