but this is a long time approach , so the traders who are particularly beginners always fall a great trouble when try to gather experience with very short time.
Your explanation is spot on. However, I think that almost everyone fails. Like 99.99% fail. That is why the .01% are so fat. But that is the failure stats for those who actively try to outsmart the markets. The vast majority who put their money in mutual funds or dollar cost average into index funds or index ETF's seem to do quite well over the years, assuming that they keep a program of steady contributions active over a period of years.
90% of trading is correct pricing and 10% ist risk management. That's what the fat cats do. Retailers are 20% about risk management and 80% prediction...which is why they fail
managing risk is really challenging issue , to be experienced about this need a long time experience with good patience level.
Most common mistake traders make is their inability to analyse the risks involved in the trade. They only focus on making profits and neglect the losses.
I think the most common reason for traders failing in such numbers is their mindset. Their misconceptions about forex being an easy and quick way of making money leads to their failure.
Consistency and discipline are the two factors that distinguish between 10% of the traders who make profits and 90% traders who fail.
Yes, I also think that there are more than 90% of losers on Forex. After all, many come here for quick and big money and simply do not want to spend a long time learning how to analyze the market and reasoned trading.