To use chat, please login.
Back to contacts

Why people lose money in Forex Trading?

Jun 19, 2020 at 10:31
2,104 Views
52 Replies
Member Since Mar 23, 2020   63 posts
Jul 09, 2020 at 06:36
Stonesong posted:
Often, beginners start trading with large first deposits, as a result they lose it.
True! That's one of the major reasons why they loose.
Member Since Sep 10, 2019   1 posts
Jul 09, 2020 at 07:17
I think there is lack of experience and knowledge about this market, most of the people do Forex just for thinking they will win by not having great strategy, they trade for luck not for strategy.
Member Since Dec 05, 2018   7 posts
Jul 09, 2020 at 11:41
kaatib posted:
I think there is lack of experience and knowledge about this market, most of the people do Forex just for thinking they will win by not having great strategy, they trade for luck not for strategy.

Fully agree! They don't understand that trading on Forex is a certain kind of art. And you have to find the perfect strategy for you, not just luck.
Member Since Oct 09, 2009   4 posts
Jul 09, 2020 at 13:48
I think they lose because of discipline not willing to do the hard things that require success.
Member Since Jul 09, 2020   1 posts
Jul 09, 2020 at 14:31
Get rich Quick mentality is a biggest killer of many forex accounts
Member Since Feb 12, 2020   14 posts
Jul 15, 2020 at 13:32
It is necessary not to spread out and use all trading methods at the same time, a sequence of actions, a cold-blooded approach to trading.
Member Since Feb 22, 2011   4862 posts
Jul 15, 2020 at 14:09
Dictiony posted:
According to the my point of views mostly trader's loss their money in Forex due to the lack of knowledge and confidence also greed is the main factor of lose money, for that reason everyone must give enough time to proper analyze the market and trade with less risk, then sure have much benefit in this business.

The question is why should they be profitable out of nowhere
You can't be dentist or rocket sience engineer without years of study
Why should be Forex any different?
Member Since Dec 28, 2019   25 posts
Jul 15, 2020 at 21:33
I agree the beginners who come to trade on forex think they'll be sprinkled with mountains of gold. Because of their self-confidence and inexperience, they lose all their initial capital and get disappointed. They cannot initially understand that trading is quite complicated and that it takes a lot of effort to make a profit. Therefore, I advise all beginners to open a demo account and feel the principles of trading.
Member Since Apr 01, 2020   231 posts
Jul 16, 2020 at 00:33
kaatib posted:
I think there is lack of experience and knowledge about this market, most of the people do Forex just for thinking they will win by not having great strategy, they trade for luck not for strategy.
Yes, agree with you if you have no skills, knowledge and experience then it will be difficult for you to make money in Forex and you can face loss in the trading.
Member Since Jun 24, 2020   34 posts
Jul 16, 2020 at 06:48
kaatib posted:
I think there is lack of experience and knowledge about this market, most of the people do Forex just for thinking they will win by not having great strategy, they trade for luck not for strategy.

You are right. People have huge misconceptions regarding forex.
Member Since Feb 12, 2020   17 posts
Jul 16, 2020 at 09:00
First of all, people lose money because they do not fully understand what they are doing.
Member Since Feb 12, 2020   14 posts
Jul 16, 2020 at 09:10
Most often, blame is lost due to human greed
Member Since May 14, 2019   30 posts
Jul 16, 2020 at 13:52
People lose money in forex and especially the new traders because they join forex with the wrong idea. If there is one thing I am sure of it is that forex will never make you rich. The ads ake it seem simple but the reality is quite the opposite. If al you can think about is that when you join forex then you will lose a lot of money.
Member Since Dec 26, 2019   21 posts
Jul 16, 2020 at 14:08
People lose money in forex becaue they do not take their time to learn. Someone joins forex ad a week later they are already trading. That is a very big mistake. If you do not have knowledge in forex then you will not make it far. People fear learning because there is so much to learn and it is very complicated in a way.
Centrillador
Member Since Feb 12, 2020   21 posts
Jul 16, 2020 at 14:27
People lose a lot of money in forex because they take big risks. Trading with high risks guarantees high returns but not in all situations. Those who are not ready to trade patiently with less risks are the ones that have to face these losses. If they take their time then they would not make such losses. Do not rush because things rarely work out that way.
Member Since Feb 14, 2020   10 posts
Jul 20, 2020 at 12:08
The market is so arranged that many people lose their accounts
Member Since Feb 22, 2011   4862 posts
Jul 20, 2020 at 12:59
Akos53435627 posted:
The market is so arranged that many people lose their accounts
can you elaborate more on this
what does mean market is arranged?
Member Since Oct 01, 2019   49 posts
Jul 26, 2020 at 02:28
I lost money because I just wasn't patient. The mistake was putting in more money to get back those losses too haha. The hardest thing to understand was that you dont have to trade everyday or hunt for trades every session. Nowadays I dont even trade everyday, it's like a part-time gig that earns great returns. Ignore the noise from social media.
Member Since Jun 05, 2020   33 posts
Jul 28, 2020 at 08:30
There can be many reasons behind a trader losing money like lack of skills, poor knowledge, impatience, etc. A trader has to work on many things to earn good in forex.
Member Since Jul 19, 2020   298 posts
Aug 03, 2020 at 11:14
Dictiony posted:
According to the my point of views mostly trader's loss their money in Forex due to the lack of knowledge and confidence also greed is the main factor of lose money, for that reason everyone must give enough time to proper analyze the market and trade with less risk, then sure have much benefit in this business.
Yes the first reason people lose money is because they don't have enough knowledge to be profitable. Problem is only knowledge doesn't bring profit. To be profitable you need to understand the market psychology, price sentiment and discipline. And most people lack it.
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.