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Why people lose money in Forex Trading?

AliaDare
Aug 05 2020 at 13:46
577 posts
Trading is a purely psychological game. Winning or losing in trading depends on your psychology. There are many people whose lack of knowledge makes them lose in trading. In the beginning, the traders do not learn anything and due to extra greed, they increase the lot and trade and face many losses. The reason for their loss is that they don't know anything at first and then greedily destroys the whole deposit with trade. Therefore, to make a profit in trading, first, you have to learn to trade, then if you work according to the plan, you can expect something good from trading.

WINNINGS (NzeCapitalTrades)
Aug 05 2020 at 14:20
59 posts
People loses money because of not wanting to lose, by not taking loss when they are suppose to. In forex you have to accept you are wrong when you are, and take your lose, That is how you become profiting consistently, That is my basics of being successful.

NO EMOTION DURING TRADING.
LeviSievwright5
Aug 06 2020 at 16:11
298 posts
From my point of view, most people want to be rich overnight when it comes to Forex trading. But their demand is never right. There is no business that will give you 100% profit. You must accept some losses and if you cannot accept then you can never survive in Forex trading. If you want to follow this method, you have to follow money management and if you don't do that, you will not be able to make a profit for life.

ElliotCooke
Aug 18 2020 at 18:37
341 posts
Most of the traders lose their money because of choosing the wrong broker. A wrong plan or strategy also can be the cause of losing money in the market.

Cizel89
Aug 19 2020 at 06:21
41 posts
ElliotCooke posted:
Most of the traders lose their money because of choosing the wrong broker. A wrong plan or strategy also can be the cause of losing money in the market.

Yes, wrong broker can be one of the reasons, but majorly traders fail due to other reasons like lack of risk management, no proper skills and like you mentioned a wrong plan.

GeorgeBischof
Aug 20 2020 at 18:04
318 posts
I agree with you. Every trader should think about the risk factor before trading in this risky market.

Andronn
Aug 21 2020 at 06:37
86 posts
You must understand that no one is insured against risks, and losses will be, no matter how hard you try.

EbonyJones
Sep 07 2020 at 18:43
232 posts
Most people lose their money because of choosing the wrong strategy. It happens when a trader doesn't have proper knowledge about the market and trading.

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