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Most people fail because

Tremblay
Feb 23 2021 at 13:12
posts 330
Money management in the forex market is the most difficult job. If you can not make it perfectly you have to face a great loss.

PercymcDonnell54
Feb 24 2021 at 05:49
posts 23
josejames posted:
MichaelEX posted:
Greed to become rich overnight and jumping into trading directly without having knowledge and experience is the reason most people fail.

Getting overconfident is another big folly of the new traders.

I wonder if there is any set time that traders should demo trade for, before going live?!

robindude
Feb 24 2021 at 10:17
posts 107
PercymcDonnell54 posted:
josejames posted:
MichaelEX posted:
Greed to become rich overnight and jumping into trading directly without having knowledge and experience is the reason most people fail.

Getting overconfident is another big folly of the new traders.

I wonder if there is any set time that traders should demo trade for, before going live?!

I dont think there is anything specific in that, but you will need to think about whether you are ready to go live or not, that depends on you

josejames
Feb 24 2021 at 11:17
posts 16
PercymcDonnell54 posted:
josejames posted:
MichaelEX posted:
Greed to become rich overnight and jumping into trading directly without having knowledge and experience is the reason most people fail.

Getting overconfident is another big folly of the new traders.

I wonder if there is any set time that traders should demo trade for, before going live?!

I think that’s very subjective. Like I used demo accounts of Robinhood and Fxview for almost 2 months before going live with them. However my friend spent long 6 months with Oanda before beginning live trading.

UweMoench
Feb 25 2021 at 12:52
posts 751
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

TradeHut
Mar 01 2021 at 11:54
posts 31
UweMoench posted:
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

I agree with you, our trading journey depends on the broker that we choose. A reliable broker ensures good trade execution which are actually filled in the best market rates and also in a timely manner.


klosspiece
Mar 10 2021 at 05:34
posts 36
That is right and most people tend to fail due to these very reasons. It is important to not rush into making any trades.

Akasuki
Jun 07 2021 at 04:03
posts 500
Losing money is very normal in forex trading. It's about how a trader manage his loss. It's not possible to be 100% right all the time. We need good risk reward and winning ratio to do well in trading.

SteveHanks
Jun 07 2021 at 05:55
posts 536
Tremblay posted:
Money management in the forex market is the most difficult job. If you can not make it perfectly you have to face a great loss.

I completely agree with you. Money management is the most important thing in every business.

Bulldog_M
Jun 07 2021 at 06:59
posts 16
All of us have been in this journey of failure. Its common to all. But only those succeed in the end who do not stop doing the effort. So, the key is to to keep working hard inspite of failures.

UweMoench
Jun 07 2021 at 07:08
posts 751
If trading were easy, everyone would make money by doing trading. Online trading is designed in a way so that only highly skilled people and institute can make money.

Faujinn
Jun 07 2021 at 08:14
posts 57
This is a market where there is no place for negligence and uncertainty, you should be prepared as much as possible and understand that this is a fairly serious job that requires maximum effort from you.

Suradi (FXOday)
Jun 07 2021 at 23:52
posts 281
Fore market very dynamic, this is full uncertainty, add more your emotion, when trading emotion really involved and make trader being scared greedy, anxiety, etc, without good emotion control, one loss trading can mess up overall plan trading because desired to revenge or recovery losing trade in short time

Alexthetrader
Jun 08 2021 at 06:59
posts 60
The biggest reason of failure is lack of knowledge. Jumping into live trading without having enough knowledge of the market can never let you stay longer in this game.

Cordawield
Jun 08 2021 at 07:53
posts 65
Many do not pay attention to what is happening, a certain volatility, that the market sometimes changes, and therefore will not reduce it correctly to apply in trading.

SteveHanks
Jun 09 2021 at 11:16
posts 536
Cordawield posted:
Many do not pay attention to what is happening, a certain volatility, that the market sometimes changes, and therefore will not reduce it correctly to apply in trading.

You are right. Many traders don't follow the market condition and situation.

RobSchiz
Jun 10 2021 at 09:24
posts 567
Alexthetrader posted:
The biggest reason of failure is lack of knowledge. Jumping into live trading without having enough knowledge of the market can never let you stay longer in this game.

Yes. You are right. lack of knowledge is the main reason to loss the money.

Duktilar
Jun 25 2021 at 06:09
posts 112
Overconfidence is a direct path to failure and loss, so learn to control yourself.

Akasuki
Jun 26 2021 at 10:57
posts 500
Success is the combination of few things. A good market analysis and discipline are the most important. Both requires knowledge and skills. Getting discipline in trading is the most difficult part.

UweMoench
Jun 27 2021 at 10:38
posts 751
@Duktilar Yes I agree with you. Many traders lose money due to their overconfidence. They open lot of trades and big lot. But the end result is margin call.

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