5 Ways to Fail at Forex Trading

sayem

Trader
Jun 11, 2013
14
1
12
1.Use Money that you need for day to day living-
If you have some savings that you might be depending on as a safety net, or even as what you plan to use to pay the bills in the near future, use it to fund a forex account, this will insure that you feel some pressure to succeed and feel highly emotionally attached the money.
2.Sign up with any broker-
Who wants to waste time with broker shopping. Just pick one from a random internet search or from a random forum recommendation from a stranger. No need to research, or use a demo account. Open an account with a random broker, no need to worry about what country they are based in or whether they have to follow the regulations of your country.
3.Don't waste time practicing-
Practicing just sharpens your skills, it doesn't let you cut through the chase and just get to the trading. Start trading with real money immediately. You can learn as you go.
4.Trade Wild West Style-
No need to think before pulling the trigger. That takes all of the fun out of trading. Make trades completely on impulse. Trade any lot size you want.
5.Don't bother worrying about risk-
Life is short, why worry about what you're risking. Who cares about using stops, or worrying about how much risk exposure you have. Worrying about these things is such a waste of time. It's better to fly by the seat of your pants and figure it out as you go.
 

BarryM5

Trader
Apr 30, 2014
8
0
17
Just the first day you start trading you start this way to failing) Forex is good but only as a game - trade demo and keep your money safe.
 

readyforex

Official Advertiser
Jun 5, 2014
30
0
22
Do not trade Forex market with money that you can not afford to lose. Trading is not an easy business and failure rate is about 95%.

This means, most new traders only lose money in their early trading days.
A good idea is to first learn about Forex trading.

Like learn 1 to 2 profitable Forex trading systems before you risk your trading capital to trade the Forex market.
 

vicknic

Confirmed ProfiForex Representative
Jan 21, 2014
207
7
39
Netherlands
www.profiforex.com
2.Sign up with any broker-
Who wants to waste time with broker shopping. Just pick one from a random internet search or from a random forum recommendation from a stranger. No need to research, or use a demo account. Open an account with a random broker, no need to worry about what country they are based in or whether they have to follow the regulations of your country.
4.Trade Wild West Style-
No need to think before pulling the trigger. That takes all of the fun out of trading. Make trades completely on impulse. Trade any lot size you want.
5.Don't bother worrying about risk-
Life is short, why worry about what you're risking. Who cares about using stops, or worrying about how much risk exposure you have. Worrying about these things is such a waste of time. It's better to fly by the seat of your pants and figure it out as you go.

If a new trader should follow your advice, I am sure he will lose every thing in no time. Only Gamblers pull the trigger without thinking. If you are trading forex with your hard earned cash, please get use to forex analysis. It is the only way to keep your capital safe.
 

toretton

Trader
Aug 9, 2014
94
0
22
Italy, Milano
It's easy to discuss when u r not a newbie but when u r - u just need to learn and learn.
I'm pretty agree with Sayem
1) use only "free" money and do not open an account with a "last"
2) chose only "white" broker with good reputation and reviews (but be sure that these reviews was written by real people)
3) practice not on demo but on cent accounts + is that these accounts r real but the amount of deposit is small
4) find ur own strategy
5) smart risking
Good luck to y'all
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
Well those are just a five of so many other ways how to fail in forex trading, as not having trading plan and strategy, lack of education, poor risk management etc.
 

angle13

Banned
Jun 17, 2013
84
0
0
yes. it is help full. we need becare full with real money. it must be free money. if you use money of your expense you will trade with high impresure
 

mr bean

Trader
May 13, 2013
31
0
17
yeah. this is a true . 5 ways to fail in forex market. you need view it before you trade you will lose money when you hurry up. market is that it is not close why do you hurry .market always has opppotunites. do not scare lose it