What are the major causes of failure in forex trading

[Segshowee]

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??

Forex trade is not a get rich quick scheme. You just can't become rich overnight just by trading forex. It requires painstaking efforts, determination, training and retraining. It is is highly volatile yet lucrative. Greed, emotion and lack of adequate training contribute to failure in forex trade.

 

[IamDozzy]

The most Important causes of failure in forex trading is rushing into forex trading without understanding the fundamental principles of forex trading. A lot of people tend not to learn about forex, due to greediness they rush into forex thinking they would make it big after hearing success stories of forex traders.

 

[Adetayo100]

The reason traders fail is that they are undercapitalized in relation to the size of the trades they make. It is either greed or the prospect of controlling vast amounts of money with only a small amount of capital that forex traders to take on such huge and fragile financial risk.

 

[Ayanali]

Change Your Environment. Get out of the house and go somewhere new.
Learn Something New. ...
Create a Vision Board. ...
Get Back to Nature. ...
Visit Your Local Bookstore. ...
Try a New Creative Art Form. ...
Keep a Notebook to Jot Down Ideas. ...
Learn About the History of Your Craft.

 

[Heatman]

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 believe it's greed and impatient are on the top charts on why most people who jump into forex trading newly all end up crashing out hard on the floor. They never want to chill out and learn all ropes they would need to survive in the trade.

 

[harryper]

The inability to properly recognize and use forex trading signals can also lead to losses in trade. If you are always making mistakes when it comes to deciding when to trade by using signals, you will sooner or later make too many losses and lose your entire trading capital.

 

[Rachelgold]

The forex market is a school on its own, any one who wants to engage in it must be properly schooled on the pros and cons else one is bound to fail. It is also a changing market where you get to study the every day changes and you also need mentorship to succeed

 

[Eodine]

Just like every other business, one major reason people fail is too much expectation and that expectation not coming true, then will to continue will reduce and before you know it the dream to be a forex trader fades.

 

[Davidzzz]

They say knowledge is power, so I think one of the major causes of failure in forex is lack of knowledge in the field of forex

 

[Cash%]

What people dont consider before trading forex is getting a professional trader that will help them make more profit ,and when they invest they make more profit

 

[Josemendez]

I think your three points summarized it all . When people fail to have patience during their trade , they end up losing much. Secondly , people fail to understand that forex is a risky investment that demands good strategy

 

[Prettyjanie]

The major cause of failure in forex trading is lack of proper knowledge and lack of mentorship. Alot of people think because others succeeded in forex, they will also succeed and rush to invest thereby losing so much money. Its unfortunate that those that are so into it are not thinking of backing off.

 

[Victor001]

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??

As a 6 month old forex experienced trader I can tell you that there's no particular way to gain in Forex but one key factor that make people lose in Forex is greedines syou have already mention the value

 

[Richard92]

One of the major failure in forex trading is not investing rightly, when you don't invest rightly or study the market before investing you will face a lot of risk.

 

[Justin]

You fail in forex trading for one basic reason, your inability to make the right decision in the right time. You cannot predict the market because you do not have the capacity to make the right decision.

 

[Abbeyola]

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??

The majority causes of failure in foreign exchange trading, is lack of understanding and knowledge of how the market works and haste to make money.

 

[joy101]

The major failure in forex trading is not fully understand the business very well, and also not having knowledge about it, this can also be major failure on forex trading.

 

[Kennysplash]

Greed can play a major role in continuous loses. Many people want to chase their loses and end up losing more. If you lose, take your time and restrategize.

 

[FreshKaz11]

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 don't think one could ever earn more on forex, because why! Have try so may tactics on how to be earning at least $2 daily but at the end forex still take it all from me both the capital and my profit as well.

 

[Erik4150]

The major reason that causes people to fail at forex trading is lack of knowledge and skill reqired to succeed in forex trading. Beginners often make this mistake.