90% are loser bcoz they are taught to use the wrong methods when trading the fx market.
Get rich quick mentality, and then seeing a fancy indicator or 2 that looks really pretty on the chart and that`s that. the technical analysis is sold in the wrong way. But hey, it looks really fancy so it must work right? Yea, it works in a way that it helps you to give your money away to the winning 10% or less.
If you ever meet someone who works as a forex trader at a firm or bank or hedge fund, just ask them what method they are using. 0% of them will tell you that 'I combine this and that and that indicator and then I follow their sell and buy signals, thats how I trade the millions of dollars of my company.'
Self defined internet forex gurus will always find the easiest way to rip you off with their awesome signals and robots, but thats how they are making money, selling you bulls..t, and not actually trading forex. And your mentality helps them, who wants to learn the fundamentals, it sounds complicated, probably takes some time, but i wanna get rich faster than that. And that indicator looks really nice, pretty and colorful, it must be the right way. And its sold.
Just think about it for a minute what moves the forex market, its not complicated. Does indicators that show what happened in the past, combined together into a strategy, really have the power to tell you what will be the value of a currency in the future?
Or maybe its the economy of a country that will actually define how much its currency worth?
I guess its easy to answer to this question.