Why do so many people blow their accounts on forex?

[wahabplus]

Actually most of the traders join forex just because of attraction and fascination of the characteristics of forex trading business and they are not fully aware of the facts of forex trading business. Most of the trader are actually not trading and they are just gambling in forex without any prior learning and practice. Even they don't have sufficient information to understand the market and they use to follow trades of other traders or forex signals blindly without any analysis.

These are the reasons for why so many traders blow their accounts. If you learn it first then practice and then enter real trading i assure you that will be successful trader very soon.

[sohel333]

because they want test thire luck...

[waqtitrader]

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.

app ki batain bhi sahi hane or jahan tak mere experince ka sawal ha na to mainn ye sochta houn ok es main greed or emotions ki waja se he log apne account ko blow up karwa bethtey haen kioun k un k account main itna capital nahi hota ha jitna woh es main big lot se open kar letey hane new trade

[jahangir2812]

In attendance are several motivation thanks to which individuals experience losses in forex and that they is lack of staying power and regulation lack of gainful trading strategy or not enthusiastic in demo account. Incapability to manage their emotions and plenty of alternative motivation will result in losses for them.

[got2luvyou25]

Generally, 80% of the traders blow up their account because of greed. The rest 20 % blow it up because of wrong trade strategies, forgetting to set S/L etc. In the forex market nearly 75% of the traders blow up their account everyday and 40% completely leave forex after that and the rest come back to try their luck once again.

ap ne bilkul sehe kaha bahi k most ziada ter trade ko haut ziada losses ho jatey hain or yehe waja ha k greediness ko apney lete hain or sehe terhan trade nahi kerte . lekan aik main cheeze jo k hum ko dkehni ha wo ye ha k hum ko trading plan abanna hoga us ko follow kerna hoga after that itna masla nahi hoga

[alvabra2010]

Generally, 80% of the traders blow up their account because of greed. The rest 20 % blow it up because of wrong trade strategies, forgetting to set S/L etc. In the forex market nearly 75% of the traders blow up their account everyday and 40% completely leave forex after that and the rest come back to try their luck once again.

[saviour196]

actually there are many new entries who dont know much about the market and they are working on live accounts and some times by chance they earn some thing but mostly they lose and the other factors are lack of knowledge.

[purohit]

mara hisab sa agar app demo version use kar ta hain aur app ko acha tara sa forex trading ki information ho ja ti hai tu app apna emotions ko control main rak ka bohat sa profit gan ka dakta hain

[sabutkelaparasaduren]

several reasons why people end up losing all their money: they rush into the market, but the condition does not correspond to their trading rules. they are too slow to enter the market because they fear the loss.

[puri]

many newbies come to this business and they only bring their dream, not good knowledge and here is the basic of mistake
but after several times and then they got the problem , they will learn to know the strategies and try to make better in their trading, and it always happen time by time to newbies..