Trading in Forex without knowledge and poor risk and money management are some top reasons to lose money. Not everyone thinks like this, many people are winning in Forex trade but with the willingness of putting time and effort.
Correct @navyelite. For those who wish to succeed here, it is very important that they work hard on gaining good knowledge, for without it nothing comes easy here.
Many are confident of losing because he does not fully assess the situation in the forex market and does not take it seriously
Overtrading either trading too big or too often – is the most common reason why Forex traders fail. Overtrading might be caused by unrealistically high profit goals, market addiction, or insufficient capitalisation.
Seriously, over trading can have such bad effects on one's trades. I remember, how I fought this issue when I had just begun trading forex. It was no doubt hard, but with time, one learns how to control all this.
There are two types of people who say you can lose in forex. One, the traders who have burnt their fingers in the forex market and the second, the people whose negative emotions do not let them trade in the market.
Any excuse is sought by those who do not want to make an effort to achieve a result, and even with mistakes and losses, you can always find a way out for the better.
True and this is the result of the lack of a well designed and strategized trading plan. Traders, particularly beginners don’t value consistency and dedication that goes into bringing their plan into action.