Most people fail because

UweMoench posted:
@mab8 yes people more focused on making money than developing skills to make money. As a result, they do not able to make consistent profit.

Agreed! They think if they can make the money, then why bother learning skill? When it is actually the other way round.

It is a major problem for new traders. They always join forex with wrong information. Most of them believe that just investing in forex can earn them huge profits. In reality, a lot needs to be done to grow that amount of money into something big.

Failure comes from both over confidence and fear. Now you have to identify your own. But failure can educate you for the coming achievement.

All that glitters is not gold might be the right fit for forex trading. People get introduced to forex trading in a way that makes them think about forex as an easy road to riches. They often forget about the years of hard work, learning, skilling, practising, etc.

I think it is because they fail to build a strong risk management system that helps reduce the amount of loss they incur. Traders are mostly over confident and do not think practically. This is why many fail easily.

I think people fail because they take forex trading very lightly. They just jump into the forex market without much thought and don’t even bother to learn or do some background research. Such people mostly end up becoming victims of scams as they look for shortcuts or lose all their money due to greed and over trading. New traders need to spare some time to educate themselves and enter the forex market with a proper plan of action and strategy.

According to me, many of them fail because their money is inadequate in comparison to the number of trades they make. Forex traders are compelled to take on such a large and volatile financial risk because of greed or the potential of controlling big sums of money with small capital.

I think most traders fail because they don’t do their homework. Instead of learning the basics, they jump into trading live.

Yes indeed, there are so many reasons for the loss, we can learn and try to recognize the mistake as the cause of loss, in general mistakes or error may occur from internal resources and external resources, and internal resources can occur from our own mistakes like greedy, over trading, insufficient trading capital, fear of missing out, etc, while external resources included disconnecting trading server, dynamic market in the high volatility market

Failing in a few trades is a part of the game. It’s disheartening but if you wish to become a trader for a long term, you will have to get used to taking losses. It takes time to become consistent at making profits and a little patience would do wonders for you.

Incapability is a major reason why traders fail. And when they fail, it’s not just money-making they fail at but also at understanding the market, building a trading strategy, and executing their trades.

If people could be presented with a personal timeline showing how long it would take them to learn, how long they'd spend on demo, and then how long it would take them to become consistently profitable on a demo account then a lot of them would choose to just move on to the next idea. I think people think trading is simpler than it is and they don't see the big picture, then they want to give up once they start to realize what goes into it. There are too many scammers out there selling a false narrative about it.

There are only a few successful traders in this market and the majority of these traders fail when it comes to investing in forex. It’s obvious that trading in forex isn’t the easiest thing in this world and you must be hard working. Traders often have several scary thoughts about losing whatever they have and the overall failure of the trade. It is the basis of reading psychology but is often disregarded. Traders often allow emotions to meddle with their projects. Your trading decisions should not be controlled by emotions else you will face losses. Often traders don’t follow discipline which is very important when you trade forex else you might have consecutive losses. Greed makes traders act irrationally. Avoid over leveraging and over trading in the market. It is not doing any good and causes only harm.

Many people joined in forex with the hope to making a profit from trading, but not all traders will get the same result in trading, all depending each trader's skill and how good they can understand the nmarket behavior to adjusted trading strategy, the most trader fail in trading means this is no easy job, the only skilled trader will survive and knowledgeable.

The reason for this is that the majority of people do not have a comprehensive understanding of the market and its working system. They also do not possess the necessary set of skills and abilities. It is the first and most important factor contributing to their failure.

Trading is an unpredictable thing to do. It needs sound knowledge to analyse the market. And yes, you are not gonna win each time. Losses are meant to be there while trading.

Most people fail because risks aren't calculated correctly.

Most of the traders fail in the forex market because they lack adequate knowledge. Often traders start trading without learning anything and then suffer losses. Traders also skip trading in a demo account and trade in a live account, which is disadvantageous for them. Also, most of the traders get emotional and ruin their trading career.

If trading environment is not favorable, it will badly impact your trading. So, keep this thing in mind while selecting a broker. There are a lot of brokers that offer traders a nice environment of trading and traders should trade with such a broker with whom risk-management is easy.