The reason that new traders fail that doesn't involve psychology

Many people love the feeling of excitement and want to profit quickly and easily. Because gambling is so popular. Some people equate forex and casino, justifying it by the fact that you are dependent on the element of luck in Forex and the casino.
But this is not true. Forex trading depends on a number of factors that can be studied and thereby to anticipate a good capital investment. In forex, you do not just bet, you buy and sell goods. Speaking of 90% of the people who bear the loss we are talking primarily about those traders who yavlyayutsya beginners and poorly mastered the methods of obtaining information and forecasting.

Depends which games you are playing in the casino , one arm bandit or poker at the table.

Most of the traders lose their money because of their wrong strategies. A wrong decision can put you in great danger. So, try to make a profitable strategy to make money from this risky market.

There are many types of traders in the Forex market such as fundamental traders, technical traders, sentimental traders. Each of these 3 types of traders has a different strategy. The strategy of many people is different and that is the best for those who are making a profit with their strategy.

Poor strategies or lack of knowledge can be the cause of failure in your trading style

In order to decide on the strategy that suits you best, you can try different options.

In addition to the strategy that needs to be developed and tested on a demo account, you also need to have certain knowledge and psychologically adjust yourself to trading, because sometimes this also makes itself felt.

Every new trader has to be very serious on their trading. They should make a good plan and chosse the best strategy that suits them perfectly.

Due to the fact that the attitude to trading is frivolous and everything is not done as prescribed, this is how beginners really fail.

Overconfidence. Overtrading. Revenge trading. Limited experience on demo accounts. High commissions, spreads and fees.

Making profits with trading is not as easy as it may appear to be.

josejames posted:
Making profits with trading is not as easy as it may appear to be.

Yes. It is very difficult to make money without proper planning.

Thanks to the planning, you can clearly understand the concept - the line of your trading and protect yourself from failures.

Psychology plays an important factor in trading. We are human beings.

Strength your mind first. After all, it is a mind game.

Psychology is important for any traders. No matter whether he is new or old trader. Without proper mindset it's not possible to make money regularly.

Psychological aspects are important at any stage, even if a very good professional.

I got used to think that all the reasons of fails are concluded in psychology and unwillingness to change something in the approach to trading activity. If you don't treat this activity carefully and you don't have wise approach to it, you will lose all your money I bet. In my opinion, psychology plays major role here because your fails directly depend on psychology. Of course, no doubts, that your first fails come from the lack of experience in trading, nevertheless if we speak about traders who are in trading for about a year or several years and they fail, then it comes to psychology.