What are the major causes of failure in forex trading

[tyrim88]

The main issues that makes a lot of people to run into problem in forex is the inadequate knowledge in the art of trading.The 'let me start making money quickly' is the major setback to losses.And also the greed on when to stpp trading in the market.

 

[Ehizzy1]

Lack of patience is the main reason many people usually fail when it comes to forex trading ,many don't know that they would make profit if they are patience and they place the right trade

 

[Ayokex]

Experience is the most important weapon which lead you to the success but if person has lack of experience then he may loss in forex trading.I think one of the reason people get to blow their accounts is the greed to make it big. Forex trading is a marathon and not a sprint. You can't start with a small equity and expect to make so big profits that's why you must remain touch with it for long time before investment.

Some major causes of failure in forex trading include but not limited to the following;
Poor financial management
Anxiety
Fighting back against the market
Too little capital/investment
Wrong trading platform.

 

[Richard92]

One of the major causes of failure in forex trading is not knowing or studying the market before going into investment it is advisable as a business man or an investor to know more about the business you want to invest in before going into it.

 

[Kelly5]

One major cause of failures in the forex market that we all can relate to at some point is greed. Greed blinds our eyes form sticking to our trading plans and makes us to keep holding a winning position longer than necessary untill we lose everything

 

[Kunkun]

Well said indeed, with forex it takes patience as it is not a get rich quick scheme, also having a mentor would help too on the long run because there are some mistakes that would be avoided that way

 

[Sotherefore]

although I do not fancy trading of forex but those who have an interest in trading of forex must understand that it is not a get-rich-quick scheme and you must also try as much as possible to learn and have an understanding as much as possible because it is knowledge and understanding about it that will guarantee your success.

 

[BTCBEE]

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??

yes you are right and you mentioned the right points. forex always risky because you don't have control to stop or recover your loss while in crypto you can recover your loss.

 

[tyrim88]

Sometimes it has to do with greed on the part of the one trading,he has been thaught the rudiment of trading and the first experience in trading is not followed properly with caution and this might make him want to always go for more of profit margin when he should have a target and know when to go out from the market.

 

[eLdavis]

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??

Exactly, many people enter forex with the mindset of making money overnight. They go into the market unprepared without any plan or stragedy.

 

[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??

Personally I think that one of the main reason why a lot of people fail at forex trading is when they become too greedy to study the market very well before they invest as a resource that are made to pay dearly for it.

 

[Richard92]

Personally I think that one of the main reason why a lot of people fail at forex trading is when they become too greedy to study the market very well before they invest as a resource that are made to pay dearly for it.

one major failure in forex trading days when the market is not been predicted well before investing or buying a particular currency with these you end up losing in your money or investment.

 

[Heatman]

Personally, I don't believe that there is anything like predict and earn in forex trading because it's all about following analysts that are guides on how to trade on forex successfully.

 

[Chibson]

The major cause of failure in Forex trading is lack of knowledge and understanding of how it really works. Another cause is get-rich-quick mentality.

 

[Heatman]

Well for starters if you lack the knowledge to invest in forex or trade in forex then you definitely going to result in you failing at trading in Forex which isn't an easy task.

 

[GIFTMICHAEL]

Inexperience traders enter into the forex market with the mindset if driving profit without thinking. Such syndrome or quick thinking towards riches isn't achievable via forex trading. Experience is needed, and can be achieved through mentorship.

 

[Heatman]

Personally I believe that one of the major causes of failure in forex trading is the lack of knowledge in the industry because when you go into something that you don't really know you're definitely going to fail.

 

[Emmado]

The major challenges in forex trading is that it might be difficult for you to make money online with forex trading if you are just new,you really need to dovate your time and learn as much strategy as possible on how to trade, it will not be an easy task.

 

[akinlolu99]

GREED, GREED, GREED. The habit of because I just lost, you then say to your self time to recuperate what i lost and instead of taking a step back to observe and calculate properly the person out of emotional greed jumps back into the market and there by losing it all

 

[Heatman]

From my experience and understanding that really excessive greed and lack of knowledge that makes a lot of people who are involved in forex trading to fail because their greed will not allow them to see that they are stepping more than that supposed to.