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Author Topic: The Main reason Why Forex Traders Fails.  (Read 17120 times)

Offline WarnerDob

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The Main reason Why Forex Traders Fails
« Reply #105 on: December 30, 2018, 07:40:25 AM »
I dont think many people loos in forex because of inexperience or whatever because befor anyone start to trade forex he must have aquierd the basic skill invove in it.

Offline Eliza Abrams

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Re: The Main reason Why Forex Traders Fails.
« Reply #106 on: January 01, 2019, 01:47:34 PM »
The Australian regulator ASIC released some official statistics last year - about 63% of Forex traders lose money, and the reasons for it were that actual client profits are inconsistent with marketing materials; risk management practices for client money are outdated; some referral arrangements may be in breach of selling prohibitions and last but not least that some brokers are providing wholesale services or allowing third parties to white label their products without operational capital to supervise counterparties and support their exposures.


Offline Nasdaq100

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Re: The Main reason Why Forex Traders Fails.
« Reply #107 on: January 01, 2019, 08:12:08 PM »
The Australian regulator ASIC released some official statistics last year - about 63% of Forex traders lose money, and the reasons for it were that actual client profits are inconsistent with marketing materials; risk management practices for client money are outdated; some referral arrangements may be in breach of selling prohibitions and last but not least that some brokers are providing wholesale services or allowing third parties to white label their products without operational capital to supervise counterparties and support their exposures.

This is a bunch of Mumbo jumbo

Offline drunkfx

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Re: The Main reason Why Forex Traders Fails.
« Reply #108 on: January 06, 2019, 12:23:39 PM »
From what I've heard traders fail because of inability to honor stop losses, eventually they take unlimited risk trying to withstand deep drawdown hoping for reversal, but it never happens. I must admit it happened to me several times trading with Hotforex but later I realized my mistakes and started to use stop loss in every trade, regardless of my hopes.

Offline Humble Trader's Fx

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Re: The Main reason Why Forex Traders Fails.
« Reply #109 on: January 06, 2019, 12:35:37 PM »
From what I've heard traders fail because of inability to honor stop losses, eventually they take unlimited risk trying to withstand deep drawdown hoping for reversal, but it never happens. I must admit it happened to me several times trading with Hotforex but later I realized my mistakes and started to use stop loss in every trade, regardless of my hopes.

How does this help you against |brokers| not honoring SL, especially when there is a weekend gap?  ???


Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline Eliza Abrams

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Re: The Main reason Why Forex Traders Fails.
« Reply #110 on: January 08, 2019, 01:56:53 PM »
In those cases one should go looking for a new broker, I think. If they have an account left. :(

Offline Umar

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Re: The Main reason Why Forex Traders Fails.
« Reply #111 on: April 30, 2019, 07:06:24 PM »
actual client profits are inconsistent with marketing materials, exactly points to the core of the problem. People buy marketing material from brokers instead of learning trading Forex, and of course, lose money. It is called naive trading method

Offline Eliza Abrams

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Re: The Main reason Why Forex Traders Fails.
« Reply #112 on: May 01, 2019, 03:13:10 PM »
That is a pretty good name for it, haha.

Offline FxTS

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Re: The Main reason Why Forex Traders Fails.
« Reply #113 on: May 04, 2019, 07:10:26 PM »
Most of the newbie traders came to the markets believing that they would be able to earn substancial sum of money within the relatively short period of time. That is why the first significant losses would be surprising for them. To avoid this, brokers have to place information on the percent of traders losing their money. At the same time, this is the rule for brokers registered in EU, while the offshore brokers just place advertising materials about "1000% profit". It is impossible to become successfull in trading at once, just as it is impossible to reach success quickly in any other profession. 
Education, Exploration, Experimentation

Offline StephanieHalloran

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Re: The Main reason Why Forex Traders Fails.
« Reply #114 on: May 06, 2019, 01:08:40 PM »
ack of discipline leads to emotional trading and is another of the major reasons why most forex traders fail. Unfortunately, more often than not, a trader that loses discipline will eventually lose money as well. Another reason why most forex traders fail is because they have established unrealistic targets and goals.

Offline drunkfx

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Re: The Main reason Why Forex Traders Fails.
« Reply #115 on: May 07, 2019, 10:08:01 PM »
From what I've heard traders fail because of inability to honor stop losses, eventually they take unlimited risk trying to withstand deep drawdown hoping for reversal, but it never happens. I must admit it happened to me several times trading with Hotforex but later I realized my mistakes and started to use stop loss in every trade, regardless of my hopes.

How does this help you against |brokers| not honoring SL, especially when there is a weekend gap?  ???


Regards,
HumbleTrader

I don't think its brokers' fault. I think it's common state of the market where weekend and rollover spreads widen, you have to be smart and adjust like sitting on the fence during times when your positions are under danger.

Offline Eliza Abrams

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Re: The Main reason Why Forex Traders Fails.
« Reply #116 on: May 14, 2019, 02:27:48 PM »
That really depends on whether the broker is a scammer or not, and there are so many scammers out there.

Offline joss98

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Re: The Main reason Why Forex Traders Fails.
« Reply #117 on: May 22, 2019, 04:01:27 AM »
Primary reason is that exchanging is very troublesome, yet there is no bar to section so anybody supposes they can do it with no training.

Offline BrandonHolly

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Re: The Main reason Why Forex Traders Fails.
« Reply #118 on: May 23, 2019, 03:09:35 PM »
I blame it on greed greeeeeeeeed
some traders fails because they are so greedy and they go crazy once they make some money )

So true! Totally aggre with that! Only thing that makes us fail is our greed!

Offline grobanjosh

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Re: The Main reason Why Forex Traders Fails.
« Reply #119 on: May 24, 2019, 10:54:51 AM »
Some traders feel that they need to squeeze every last pip out of a move in the market. There is money to be made in the forex markets every day. Trying to grab every last pip before a currency pair turns can cause you to hold positions too long and set you up to lose the profitable trade that you are trading.

The solution seems obvious here, just don't be greedy. It's fine to shoot for a reasonable profit but there are plenty of pips to go around. Currencies continue to move every day so there is no need to get that last pip; the next opportunity is right around the corner.

 

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