There are a lot of reasons, but this is actually the number one reason, Is we insist on adjusting the strategy to have as low a probability of taking a loss in the short term as possible. This results in us unintentionally maximizing the amount of the loss.
Dictiony posted: According to the my point of views mostly trader's loss their money in Forex due to the lack of knowledge and confidence also greed is the main factor of lose money, for that reason everyone must give enough time to proper analyze the market and trade with less risk, then sure have much benefit in this business.
Yes the first reason people lose money is because they don't have enough knowledge to be profitable. Problem is only knowledge doesn't bring profit. To be profitable you need to understand the market psychology, price sentiment and discipline. And most people lack it.
marco_mmbiz posted: Most people are just greedy. That's a modern human thing I guess (most of our ancestors were not greedy). Even todays winners are losing, but they're not losing that much like losers do. It's achieved with money management, together with a humble, non-greedy mind.
this ^^ !!! and people get too excited by leverage, and big lot sizes. :(
Trading is a purely psychological game. Winning or losing in trading depends on your psychology. There are many people whose lack of knowledge makes them lose in trading. In the beginning, the traders do not learn anything and due to extra greed, they increase the lot and trade and face many losses. The reason for their loss is that they don't know anything at first and then greedily destroys the whole deposit with trade. Therefore, to make a profit in trading, first, you have to learn to trade, then if you work according to the plan, you can expect something good from trading.
People loses money because of not wanting to lose, by not taking loss when they are suppose to. In forex you have to accept you are wrong when you are, and take your lose, That is how you become profiting consistently, That is my basics of being successful.
From my point of view, most people want to be rich overnight when it comes to Forex trading. But their demand is never right. There is no business that will give you 100% profit. You must accept some losses and if you cannot accept then you can never survive in Forex trading. If you want to follow this method, you have to follow money management and if you don't do that, you will not be able to make a profit for life.
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