emotionally and gambling. This data however is still not good enough to start base conclusions that 95 of Forex traders lose money on for the following reasons. The reason why so many traders become emotional when they trade is usually because they are either risking too much money or trading too frequently. Give yourself a higher chance of not becoming a fatal statistic. When you lose on a trade youve risked too much money on, you put yourself in a very vulnerable position to continue the cycle because you will feel great frustration and anger over the amount of money you just lost, and this will work. Study, put in the hours, take it serious and above all, you should love trading. The short answer: because its really hard to be consistently profitable :- as they say: The best way to end up with 1000 in forex is to start with 2000. The evidence is basically conclusive that only 2 of day traders can actually consistently turn a profit. With so many retail Forex traders engaging in scalping or day trading strategies, I am not surprised that most Forex traders lose money.
10 Ways To Avoid, losing, money Some Important Steps that Helps You Avoid Reasons Why, forex, traders Stop, losing, money
Its harder and riskier than the longer term swing trading. What most traders forget to realise though, is that you need time to make a strategy your own. Its bad for 2 reasons: first off, since you have no record of your trades, you cant figure out what works or what doesnt. The data collected is only really from a 4 month period, which is hardly anything. Special thanks to War Room member kin (marketstudent) for helping me compile the information contained in todays article. Try out the strategy over a long enough period of time to make it statistically relevant. Use this list as a nice reminder of last few times youve traded against your better judgement. So how can we as traders avoid being one of the losing statistics. The market will rip you apart, psychologically, in ways you never thought possible. You have to learn the ins and outs, figure out what works and what doesnt.