What are the major causes of failure in forex trading

[Smiles20]

A very good number of people are going to fail in Forex because they have not choosing a particular style and mastered it but they are just jumping around trying to be lucky.

 

[Sincerem]

There is nothing really much in the forex . It is something that must be learnt and understand by anyone that is interested to trade it . The forex market may be very broad but anyone who is willing to learn can understand it all

 

[greenie]

Lack of knowledge of how forex trading works is one particular reason why newbies keep loosing money.
Some people think of forex as a quick money scheme where they can make money as fast as possible not knowing that it is more complicated than that.
That is why it is necessary to acquire adequate knowledge and skills before trying forex.

 

[Genie01]

The major causes of failure ranges from phychological issues to lack of working knowledge of how to control your trades and yourself.
These causes can be dealt with with learning

 

[tray59]

If you don't have the knowledge and the experience to trade you will be recorded loss so it's better you learn how to trade use your demo account to learn practice constant my to derive more experience

 

[UsmanAmoyo]

Knowledge I mean proper knowledge is important in other to be successful in forex trading.

It is very important to learn and to understand how forex trading works and how long one can wait in other to start benefitting. Most people are impatient and they think everything is sharp sharp.
Knowledge, patient, good understanding and readiness and passion are important in forex business.

That's the honest truth, without knowledge one would definitely be crippled by the financial markets.
By knowledge, it also incorporates a sound psychology and risk management

 

[GIFTMICHAEL]

That's the honest truth, without knowledge one would definitely be crippled by the financial markets.
By knowledge, it also incorporates a sound psychology and risk management

Having knowledge about a particular area involve having all the necessary knowledge that will help you succeed in the area you have choosen to concentrate on which obviously psychology and proper risk management is also among.

 

[Floura]

If you don't have a trading plan I promise you, you'll be blowing up your trading accounts, if you are good at planning you'll definitely see the best results.

 

[Ofonime6]

You will need a good trading strategy and have much knowledge on how to trade forex is never an easy business you will need to spend some time in the demo account learning when you learn and aquire adequate knowledge and skills then you can trade the market effectively and overcome loss

 

[Immilash]

If you don't have a trading plan I promise you, you'll be blowing up your trading accounts, if you are good at planning you'll definitely see the best results.

That's true and also if you don't know how to manage risk you'll ended up blowing your trading accounts, risk management is very important in forex trading.

 

[Floura]

You have said it all, if you don't know how to do risk management I you'll ended losing your investment, if you really want to earn money in the market you need to know how to manage risk.

 

[Bigron]

Forex trading is profitable despite the many risk involved, while many have made huge profits from the market, many other are counting the loses daily.

But what are the major causes of failure in forex market especially for young trader?

I will list 3 that I know of:

1. Impatience in the learning stages.
2. Lack of proper mentorship.
3. "Make it fast" syndrome.

What other things do you think is are the causes??

I suggested that the reason why individuals take a loss in forex is a lack of a basic understanding of how the forex trading operates. Often investors want to put money into a firm and then cash out quickly because without learning how the market works.

 

[GoldenLady]

I think three things are the main reason why people fail at forex trading.
The first is inadequate knowledge of how to trade.
The second is having a wrong trading strategy or no trading strategy and still carrying out trades.
The third is improper management of trades.

 

[Ofonime6]

Lack of knowledge and skills is one of the reason why people do loss and fail in the feild of forex trading forex is not a get rich quick program all you need is nothing but the experience and skills to trade well when you have the skills you will be able to excecute some good and profitable trade

 

[Agbalagbaa]

I think if you don't have the knowledge of trading you are going to lose a lot of money, that's why you need to spend your time on demo account, that will be a good idea.

 

[Immilash]

I think if you don't have the knowledge of trading you are going to lose a lot of money, that's why you need to spend your time on demo account, that will be a good idea.

That's true but a lot of people don't really understand this, if you don't practice on Demo accounts you are not going to earn a considerable amount of money in trading.

 

[Genie01]

One of the major reasons why people fail in forex trading is because they are tempted to chase the money and not the knowledge/experience. It is the knowledge that brings money.

 

[Agbalagbaa]

That's true but a lot of people don't really understand this, if you don't practice on Demo accounts you are not going to earn a considerable amount of money in trading.

Demo accounts are very important in trading, with the little experience I'm having on trading you can practice on Demo accounts to have a good knowledge.

 

[Immilash]

Demo accounts are very important in trading, with the little experience I'm having on trading you can practice on Demo accounts to have a good knowledge.

That's true, demo accounts are used for practice, if you are good at using them you are going to have a good experience, I've also started with a demo account.

 

[Agbalagbaa]

That's true, demo accounts are used for practice, if you are good at using them you are going to have a good experience, I've also started with a demo account.

That's true, if you are a newbie in trading you'll like to start up with a demo account, if you are practicing it will help you to have good experience on what you are doing.