The Main reason Why Forex Traders Fails.

[asiaforexmentor1]

Forex Trading Psychology – The Main reason Why Forex Traders Fail


Forex Trading Psychology
There are many answers in the market to this question: Why do most forex traders fail?
- Some blame it on over trading
- Some blame it on emotions
- Some blame it on revenge mentality
- Some blame it on impulse
- Some blame it on the market
- Some blame it on bad luck
- Some blame it on poor entry
- Some blame it on not taking profits
- etc etc etc
As you can see, there will be tons and tons of reasons that explains why forex traders fail.
This is all that relates to forex trading psychology.
But i strongly believe that it all leads to one answer.
MONEY
Forex Trading Psychology – The Main reason Why Forex Traders Fail

Yes, the answer is MONEY.
The main reason why most traders fail is because of money.
No doubt that we all trade forex for the money.
But it will be the money that kills us in forex.
Forex trading psychology – Let me explain.
To us our money that we put in our forex capital is our hard earn money. Who isn’t?
when we have that mentality that we CANNOT lose the money in our capital.
And as all man are greedy. We want to multiply our capital FAST.
That’s when we lose it all.
To succeed in forex trading, we have to FORGET that there’s money involved.
You have to learn to trade not because of the money. But because you like forex trading and you are passionate about it.
You have to learn to trade right and not trade for the money.
When you trade right and forget about the money, the money will come naturally.
But when you are too focused on the money, all your emotions will trigger.
You will get into impulse trades, probably because you made a lost on the last trade and you want your money back.
Or because you look at the trade and you are so confident about it, you GAMBLED your whole account size on that trade. and to lose it all.
Or because you want to feel good and look good, and you think that you are able to double your account in a week. So you take trades that are way beyond your money management risk %.
Or you made a series of losses, and you think that if you increase your risk percentage on this particular trade, you will make back your losses.
And the list goes on…
FOREX TRADING PSYCHOLOGY – The Main reason Why Forex Traders Fail

All the above reasons leads to the main answer. MONEY.
If we are not trading for the money, but if we just want to focus on mastering our trading and trading it right.
There will no longer be any emotions in place.
I highly recommend traders to forget about the money in forex.
Trade with your forex trading system and stick to it with discipline. Focus on trading right.
It is even better if you can cover up the money part on your forex broker screen. Ignore how much has your account size grown or how much have you lose.
When you are able to do that, you will then see the big picture and you will be more analytical on your forex trades.
So the next time someone ask you on – what is the main reason forex traders fail.
You know your answer: MONEY
This is Forex Trading Psychology at its fullest!
This is the main reason why most traders fail, At Asia Forex Mentor, we teach not only about the entire system for traders to be consistently profitable, we also focus on forex trading psychology. Check out our AFM winning Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor

[CortneyWilliams]

I agree with you. Yeah, it's money if you don't have passion and Lack of Discipline, Lack of Patience, No Money Management,Failure to Control Emotions and etc... That is the reason why most forex traders fail to make money in Forex Trading.. here are the top 10 how to be a successful trader.

1.Learn about the Forex trade
2. Get a good Forex broker
3.Plan your trading strategy
4.Take note of signaling software
5. Learn with a demo account
6. Practice with a mini account
7. Read the news
8.Try out your trading theories
9.Heed advice
10. Diversify your profits.

[Numa]

plus, a market maker broker cheating you.

[dojo]

I think one of the most important is that the knowledge is pretty tough to integrate. I mean ... I learned web design on my own. I am a self-taught web designer, am trying to get some programming knowledge too. And still all this Forex thing makes my head spin. I tried to study it last year and used a test account. To be honest I didn't understand a thing and I am considering myself to be pretty smart. So you need to learn a lot and test and then have some success.

[Forex scalper]

1. high leverage
2. bad money management
3. low knowledge
4. too much too fast
5. no experience

[NewGuy]

This is some great insight for a novice such as myself.

I think this concept applies to investing in general as although I'm new to Forex, I've invested money on other projects in the past and often, I was hesitant with certain decisions due to this reason.

[bestforexpartners]

I completely agree with your post. Forex trading is very risky due to leverages available with very less money you can gain more or there may be a big losses as well. Forex trading has many financial frictions. You can only earn form Forex Trading if you are a sophisticated trader.
There is another way to step into this field you can join with the various Forex affiliate programs are available on the internet. this is the most easy way to make money online.

[Karina_Ikon_Group]

Originally Posted by bestforexpartners

I completely agree with your post. Forex trading is very risky due to leverages available with very less money you can gain more or there may be a big losses as well. Forex trading has many financial frictions. You can only earn form Forex Trading if you are a sophisticated trader.
There is another way to step into this field you can join with the various Forex affiliate programs are available on the internet. this is the most easy way to make money online.

The main problem is how to become "sophisticated trader" without big losses. I believe on the way of becoming experienced trader no one can avoid it .

[charlene77]

Haha i second emotions as the main reason.

[pankajchandel]

Some get extra greedy and run with emotions .This may take negative effect