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90% are loser ..why ?
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niceGLer

Member Since Dec 28, 2013  156 posts niceGLer Nov 10 at 09:15
ratou11 posted:
EliteCapital1 posted:
Forex is a long term game not get rich quick system. I am the proof of that. when I started i traded in short time mind set and I made lot of money. But lost all of it. Then I started to look in long term goal and changed my strategy that way. I have not looked back since 2016.
This. Do not hesitate to cut losses. Always look for the long term.

What us the long term for you? Daily or Weekly or Even monthly?

steveday1976

Member Since Mar 03, 2019  50 posts steveday1976 Nov 10 at 09:33
aussimoney posted:
most have lost the plot , learning is the key to winning most are just greedy they see the big dollars before they learn ,
yeah, it is something that can take years to master. Some people seem to think it will only take weeks/months.

niceGLer

Member Since Dec 28, 2013  156 posts niceGLer Nov 10 at 10:50
ratou11 posted:
Professional4X posted:
niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)


Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.
Indeed, I can hardly see how spreads would be preventing someone from being profitable, other than from very tight scalping.

By trying to trade breakouts with moving averages?

kwalanda1

Member Since Nov 03, 2019  1 posts kenya 001 (kwalanda1) Nov 10 at 11:40
indeed true i've walked this journey and i completely agree with you guys. treat forex just as a business you will go far

patience is a language
steveday1976

Member Since Mar 03, 2019  50 posts steveday1976 Nov 10 at 19:57
kwalanda1 posted:
indeed true i've walked this journey and i completely agree with you guys. treat forex just as a business you will go far
yes trouble is a lot of people who start tradind do not think this way.

EliteCapital1

Member Since Jan 17, 2019  13 posts Al (EliteCapital1) Nov 10 at 21:43
niceGLer posted:
ratou11 posted:
EliteCapital1 posted:
Forex is a long term game not get rich quick system. I am the proof of that. when I started i traded in short time mind set and I made lot of money. But lost all of it. Then I started to look in long term goal and changed my strategy that way. I have not looked back since 2016.
This. Do not hesitate to cut losses. Always look for the long term.

What us the long term for you? Daily or Weekly or Even monthly?

Referring to long term trading is not what time frame I use to trade. It's rather how particular currency going to behaves in next 1-2 years. I use daily chart and I calculate my p/l yearly basis...

"Be fearful when others are greedy and be greedy only when others are fearful"- Warren Buffet
ForexViking69

Member Since Nov 06, 2019  20 posts ForexViking69 (ForexViking69) Nov 11 at 22:51
Wrong leverage and risk management I think are the two big factors that beginner traders fail I find. Also letting emotions get in the way of trades is another biggie. Experience and proper money management are two things I push to new traders.

Winning...
Smith88

Member Since Oct 08, 2019  11 posts Smith88 Nov 13 at 09:39
Many fail to achieve profits in this field, that’s right. Now there can be various reasons behind this, but the majority one, I think is greed. New traders and even some old experienced ones are stuck to think that forex is a money making machine that will give them returns in seconds and this greedy nature often forces them to over trade in forex. No! To master this field and get consistent returns you will have to be very patient and trade keeping practicality in mind and not greed. This is lacking in most of us, which is why traders tend to loose here.

Garil

Member Since Apr 18, 2019  9 posts Garil Dec 02 at 18:17
People lose due to many reasons. But speaking with a lot of such losers I noticed one thing - they all are lack of confidence. They don't believe that they can win, so they even don't try to be successful. Trading and losing for them is natural and confirm their opinion. So don't be losers in mind :)

Michael989

Member Since 17 Hours ago  2 posts Michael989 16 Hours ago (edited 16 Hours ago )
90%? I have read on the https://www.thebalance.com/why-do-forex-traders-lose-money-1344936 that even as much as 96% of forex traders lose money. Having said this, 100% beginners with no strategy lose money lol

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