What's Your Biggest Challenge in Forex Trading?

[moonchild]

This short post as aimed at creating a discussion between traders on this forum based on the challenges they are facing in their trading as we all know trading is one of the hardest games in the world you are competing with one of the best MIT graduates, algo experts and economics and mathematics PhDs so you always have to bring your A game to succeed

One of the challenges I am facing is entering trades late, most of the times I miss the big moves and I end up entering somewhere around the middle or almost the end of a trend, I find it hard and challenging to detect the beginning of a trend, I'll be so happy if someone can give me some advice on how to get on trends early

 

[Ramolak19]

The unpredictability of the market presents the largest obstacle to FX trading. Numerous factors, such as market emotions, geopolitical events, and economic news, can affect currency value fluctuations. It is challenging to accurately forecast these swings and to make wise trading selections; this calls for in-depth understanding, investigation, and analysis. Furthermore, it can be quite difficult for traders to control their emotions and follow disciplined trading methods, which can have an adverse effect on their decision-making and overall profitability.

 

[FinTrader]

I consider one of the main mistakes in Forex to be trading without stop losses and trading with a large lot in order to earn a lot of money in a short time. In this case, it is not possible to avoid losing your deposit. Therefore, I follow the rules of money management in trading.