What are the major causes of failure in forex trading

[Chibson]

The major cause of failure in forex trading is lack of working strategy. If you don't have a strategy that works then you will probably never make any reasonable money from it.

Post automatically merged: Jul 3, 2021

Sometimes impatience and lack of dedication really cause failure in forex trading . People should devote their time and energy in learning it before they can start making money from it.

 

[Trexxxy]

Wrong information, wrong move and also lack of knowledge and understanding about the market. There are lots of factors and reasons for failure and you have made some cogent points as well.

 

[McIrx]

Even the seasoned traders still do fail atimes despite mastering all their is to master in the game. One thing I can cite and relate to is the willingness to make back your money after suffering a distasteful loss. Some veterans sees it as an insult to lose to the market and wants to prove they are the boss. This only lead to more demoralising losses.

 

[Hena101]

The major course of failure in forex trading is people aew in hurry to start trading without the proper knowledge and some don't know about risk management.

 

[gammarays]

Not having a lot of money can make one lose in forex. With the leverage ordered in forex,you'll be needing a good sum of money to swallow losses before you make a profit. Greed can also make you lose.

 

[akinlolu99]

Many things can lead to failure in forex but the major failure of it that i have seen or heard of so far is greed and impatience, those two are one strong combo that can run anybody down in not just forex but in any business at large. The truth is forex is not a business that i think just anybody should get involved in at least not at any just given time e.g not because you have a good phone and pc that does not mean one should get into it.

 

[Mostee501]

some of the major causes of failure in forex trading is lack of concentration and not acquiring adequate knowledge of forex trading before starting.

 

[Good-Person]

Forex trading is all about predicting the price of currencies. If a person is really good at it, then it will be beneficial to him or her. Most of the people who lose money while trading in forex are bad at analyzing the price of currencies and they re also bad at viewing and analyzing charts.

 

[akinlolu99]

greed and no knowledge of how and when to trade, some people think its just about entering making after trying some tutorial online they then feel they are ready to jump in with there life-saving only for them to loss a chunk of money and later start complaining about the trade being not what they were expeccting.

 

[Ub40]

Your analysis above is correct on the causes of failure in forex trading. Forex is one trading platform that one should not just rush into because of positive testimony of people making it but one should be very prepared to face all the risks involved in this kind of platform, if not one can lose huge money within seconds. It is just my opinion.

 

[Senator]

One major reasons a lot of people do fail in the forex market is because of the get rich quickly believe syndrome that they have about the market. This drives them into taking very careless risks and end up losing Soo much

 

[Lens]

Very good thread! The points you highlighted are the cause of failure and losses in Forex. It's a technical trade that requires a technical know how and lots of education. The trade needs lots of education and mentorship to be able to pull successful trade. That's what forex trade entails.

 

[eLdavis]

One major reasons a lot of people do fail in the forex market is because of the get rich quickly believe syndrome that they have about the market. This drives them into taking very careless risks and end up losing Soo much

Some traders see the forex market as where they can pick money at any time. Whenever they want to do anything, they run to the forex market, these expectations has made most traders to trade under the pressure making it, hence they make lost of mistake

 

[Dagm1]

I believe the most significant element originates from that individuals don't discover the ropes prior to buying Forex. Very most individuals simply listen to that it is actually lucrative as well as following time they begin trading, that is certainly not exactly how it expect to become performed. Forex needs technics that you develop along with expertises.

 

[harrypaul]

I think the major factor that makes people loss on forex is lack of initial knowledge, impatient, greed, ignorance and inability to learn fast.
I have a friend who went into forex without any knowledge and thinking it was ust as simple as betting, he lost some good sum of money

 

[GIFTMICHAEL]

Majority of traders doesn't want to learn, they simply want to earn money that's why they simply lose out immediately trading forex..

 

[mcjerry]

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??

You have listed it all. The three points that you have listed is the main reason why most people have failed to be successful in forex trading.
Some people will just learn and only know little and they will start trading and when they start the trade, on the long run because they want to make it high they will not take profit at the right time. This will now make them to eventually loss there money. This has happened to me that is why I know this.

 

[Shigobad2020]

The major course of failure in forex trading is people aew in hurry to start trading without the proper knowledge and some don't know about risk management.

Thats the exact mistake I made when i first loose in my forex trading, I learnt for just a week and i thought I have known it all, then i just invested thinking I am good enough .

 

[Stylex]

I concor with you forex trading is profitable despite the fact many risk involved,forex trading is indeed profitable ,but there are certain challenges and failure in it ,all you have to do is to hold on to your self,don't see failure as something bigger , just work as good as you wanted it to be

 

[Bousine123]

I think the make it fast syndrome stands out for me. If you can't take the time to learn how something, the possibility of you loosing would be really high.