Most people fail because most people do not have necessary knowledge and skills. People come here with a expectation of making money quickly and easily. Basically they are introduced forex in a wrong way. If they have been told it will take time to learn the necessary skills, the percentage would have been different.
Greed is the most dangerous emotion for trading. Most of the traders lose money just because of this greed. And there are s trader who is mistaken greed as hope. Greed is when you have no trading plan. You trade all day long. After a profitable trade, you open another trade in the hope of making money. But we should control our greed if we want to stay in the market and make profit for long.
There is a misperception that for success in forex you need big capital. But only big capital can't save you. Big capital is good when you are skilled enough. Otherwise No matter how big your capital is you would lose all the money. So in learning phase, low capital is the best option.
There are various reasons like Lack of knowledge, poor risk and money management, too much influence of emotions, trading without a plan and so on. We really should practice regularly to succeed in forex.
- Lack of sufficient knowledge of this market. - Considering the market as two sell/buy buttons. - Too much greed( A very small amount is also an obstacle) - Lack of proper morale with financial markets. - Lack of sufficient capital. - Lack of work discipline
- Getting lost in the empty and superficial layers. - Too much confusion in choosing a system, - being misled by fraudsters, Brokers, Unrelated and unprofessional people. - The inherent complexities of financial markets. - A lot of false information that is injected into them by individuals or companies. - The inherent cruelty of financial markets.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.