Why do so many people blow their accounts on forex?

[shaima]

The only answer to this question is the rush to enter the Forex market and start trading without any knowledge nor the skill nor experience

[dharampal]

the reason of blowing account is that some new beginer are do not know about rule and system of forex treadinf and they loss their account and anoter reason is that nobody have patience of and no control her/himself so plz take patience

[tradergalau]

Forex trading is very hard work and a trader without knowledge can not succeed in this business. Mostly traders are not well trainied and they loose their money due to lack of knowledge. Many traders have not enough investment and they withdrawl their profit soon after earning.

[jmsblack18]

All again that is all because your money management. People who blow their account too fast maybe doesn't had the good money management technique in their pocket. I had see many rogue trader list and the most reason why they are lose is they doesn't had enough time to keep up looking how much their account down in that day, that is why you must keep in touch about this.

[shipu111]

The unadorned answer to your question is this with the intention of the public look after to be hurried and therefore baggy their money by the start of their career in Forex and at that time they look after to leave it. The preeminent way in my attitude is this with the intention of a person should permanently practice in a sample tab initially previous to early trading in real tab.

[sourav744]

Most people engage in trading with little to no education, thinking they can make ... In fact, 95% of forex traders lose their money or blow their account within the first ... If you have a trading idea that you would like to present, please send me an ... All levels of traders are welcome, and as many successful traders may testify, ...

[manav14386]

mujhe lagta hai many traders jaldi se jaldi less time mein paisa kamane ki wajah se apna account blow karlete hai..hume pehle kaafi experience gain karna chahiye apni strategy mein,fir usse real par use karna chahiye..

[executor]

Ok, stupid question but I just started playing around with forex... I don't get how people can lose their whole account so quick.. Aren't the odds of winning or losing a trade close to 50/50 if you set your stops far enough? say I have a $10,000 account and trade 10,000 units of eur/usd every trade so thats $1 a pip and set my stops at 50pips and every trade I do the same thing. THen I flip a coin and say heads I buy and tails I sell and do this over and over.. it should still be close to 50/50 right? Now what if instead of a coin I increase the stops to 100 pips and just follow the trend using simple fundamental techniques? This should be a good way to win right? What do you think?????

Additional Details
simion-yes I know, there's of course reasons why the market moves the way it does but the coin does not know or care. So if the USD suddenly decides to turn around and I sold the EUR because that 50/50 coin toss decided tails then I make money. The chance is still 50/50 because the chance of hitting either stop is close to equal. I don't see what leveraging has to do with it this. If I use leverage to increase my buying power I don't go full leverage because that's the easiest way to kill yourself, that's obvious I think you're just increasing your chance of getting margin called especially with 50/50 probability. The only factor swaying the 50/50 is the spread. THank you for your response though I am just trying to figure out and this was just my initial view of the market.. I'm far off from learning fundamental methods of trading, it will take me years to understand it and even then I don't think that knowledge will pay off if I don't have the fortitude to make confident trades.

Because of the strong probability factor, we need a strategy that precise, we need to find a strategy in line with the market situation. Only an intelligent strategy, which makes our accounts survive, and remain safe.

[Ryad]

This is because when you are a beginner, and you make 1 loss, you would want to recover this loss by trading for bigger volumes.. What happens is that with higher volumes, your risk are too much.. When the trade is in negative peps, you fear the market and close with the negative pips because your psychology tells you that your account will be blown.. Another example is that when you make 1 win, you feel that your confidence is higher than the market.. You will place more volumes and this will wipe your first profit and some of your money.. While being selfish, you will place higher volumes to recover the loss of your money and the profit the market gave you.. In doing so, you will blow your account automatically with your psychology telling you that you misread the analysis of the market, close out.. That is how the beginners fail, I lived it and today I am proud to be successful..

[sagor2012]

we can set some a significant number of guidelines for changing but we consistently do in opposition to it everytime we drop in the business resulting from the fact that we dont have a quietness , such a variety of ppl thought they can effectively win in this business but the real truth it not that straightforward