because I think the forex business is complicated and need high patience and forexjuga involving money management and good psychology.
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because I think the forex business is complicated and need high patience and forexjuga involving money management and good psychology.
3 years ago, i joined at forex and i just used demo account just for two days and i registered at real account and began to trade, but i make some mistakes i got MC for some times and even i blew my account for several times...i almost give up...and i think forex is not suitable for me till one day, when i tried to open position and i opened some time frames so i watched the movement for some times, i realized that it is the key...although i used scalping i reaally need high time frames for it...step by step i got some information and i can control and develop my self...
so there are bnewbie joined and entered at forex without prepare with good knowledge and that was a classic problem
lack of experience and basic knowledge are the main reasons for loss in forex. in addition to these greediness and eagerness of earning money in less time are also the reason for loss in forex
Lack of knowledge is not only the main reason for traders losing money in forex. The ignorance, greed are also other reasons behind that. Most of the traders overdo the trade thinking more trade will eventually make more money. But in the end, they just lose more and more. For the better profitable trades, we need planing and good execution of those planing.
In Forex there are most of the traders who loose as they enter this field without proper knowledge and basic study of the market and and they do not have a proper trading plan in place or money management so most of them loose in this market.
you are right..forex is not easy trading business..its need a lot analyses.
beside the patienctce its need deciplane also...like money management using stop loss & take profit. one more thing news knowledge..many trader dont give the importance of news. we should give the value to news also.
Many traders join Forex believing that it is a very easy trade and one can become rich very soon but it is after they join this trade they come to know the reality. Also most of the traders enter trading without even basic knowledge and proper strategy so they end up loosing.
In Forex trading trading money flows from one hand to another hand through different brokers. So here one must loose to give profit to another traders vice versa. So loss is a common factor here. only those people who are wise enough to escape the traps in the market will survive here.