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Why do Newbies Lose?

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  • Post #361
  • Quote
  • Feb 8, 2021 5:42am Feb 8, 2021 5:42am
  •  NeilWagner
  • | Additional Username | Joined Mar 2017 | 484 Posts
there is no one who can learn to trade completely , its a long-term process ,
for that reason most of the time beginners lost interest after passing sometimes.
 
 
  • Post #362
  • Quote
  • Feb 9, 2021 1:03pm Feb 9, 2021 1:03pm
  •  Zlotnik87
  • | Joined Feb 2021 | Status: Junior Member | 2 Posts
The lose because they dont use SL and also bad Money Managment
 
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  • Post #363
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  • Feb 10, 2021 9:05am Feb 10, 2021 9:05am
  •  Jasonravera
  • | Additional Username | Joined Aug 2020 | 12 Posts
Most traders have lost in few trades; even professional traders lose in trades. But newbies lose because of greed and lack of knowledge in forex.

They tend to rush into trading with gambling skills and end up blowing their accounts, and due to this, they either give up trading or began learning the basics after many losses.
 
2
  • Post #364
  • Quote
  • Feb 10, 2021 12:05pm Feb 10, 2021 12:05pm
  •  mlawson71
  • | Additional Username | Joined Dec 2015 | 3,529 Posts
Newbies also often lose because of fraudulent brokers, one should never underestimate that factor.
 
1
  • Post #365
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  • Feb 13, 2021 6:21am Feb 13, 2021 6:21am
  •  keeleytan
  • | Commercial Member | Joined Dec 2016 | 82 Posts
Quoting NeilWagner
Disliked
there is no one who can learn to trade completely , its a long-term process , for that reason most of the time beginners lost interest after passing sometimes.
Ignored
Very true.
My Personal Golden Rules [Taken from my personal discord group]
- Accept that you will be wrong. Take the loss and learn from it.
- Accept that you will lose, even if you're right. Stick to your rules.
- Be disciplined. Keep to your rules. Keep emotions away.
- Capital preservation is important. Keep your risk consistent. If you risk 1% of your capital, then keep it constant. If you risk 3% of your capital, keep it constant too.
- If you're worried about how much you're going to lose, reduce your risk. You're risking too much now.
- No should've / could've / if only. I would have been a millionaire by now.
- Overtrading doesn't mean higher return.
- Risk management is important.
- React; Do not predict where the price will go. Let the market tell you where the price will go.
- Strategies based on luck is not consistent.
- There is always another setup. If you miss this one, wait for a re-entry or just close your charts. Do not enter at a bad price.
- Treat your results in terms of % and not monetary value. My $1,000 a trade risk could be 1% of my capital, but 10% of yours.
- You will miss a lot of winning trades. Be patient.
 
 
  • Post #366
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  • Feb 20, 2021 9:39pm Feb 20, 2021 9:39pm
  •  totocayetano
  • | Membership Revoked | Joined Jul 2019 | 94 Posts
They've lost because they tried. It's way better than those who never lose but never really tried. Just keep trying. Each one of us has a different learning capacity and learning-curve timeline. If one keeps trying he will eventually get it.
 
 
  • Post #367
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  • Feb 23, 2021 5:02am Feb 23, 2021 5:02am
  •  TopSmart
  • | Joined Feb 2021 | Status: Junior Member | 6 Posts
Newbies lose because of insufficient knowledge and mostly because of their impatient nature to make prompt profits. Forex is not a quick money making machine and that is what most of the beginners fail to understand.
 
 
  • Post #368
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  • Apr 1, 2021 6:18am Apr 1, 2021 6:18am
  •  Prudence12
  • | Joined Mar 2021 | Status: Member | 25 Posts
I think the age of a trader is very important.
 
 
  • Post #369
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  • Apr 21, 2021 3:03am Apr 21, 2021 3:03am
  •  Chnstar86
  • | Joined Mar 2021 | Status: Member | 5 Posts
Well

Because forex is a zero sum game. You lost i got my profit
 
 
  • Post #370
  • Quote
  • May 10, 2021 7:59am May 10, 2021 7:59am
  •  MaryAux
  • | Joined May 2021 | Status: Junior Member | 1 Post
I got answers to my unasked questions. Thanks!
 
 
  • Post #371
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  • May 13, 2021 9:36pm May 13, 2021 9:36pm
  •  forex1mill
  • | Commercial Member | Joined May 2021 | 41 Posts
They trade by emotions. "It will go to the moon!"
Sometimes I just check the comments part of the dollar chart on investing.com to laugh. Funny when they talk about how will it jump up 500 points after the news. They think if they strongly believe in a result, it will happen because their indicator shows something.
The market will go in the direction where the big money goes, not where the emotions.
Newbies lose because of two other reasons. They don't have a strict risk management strategy and they want to earn too much so they use too high trading lots.
Free copy trading and FX Prop Firm tests on forex1million
 
 
  • Post #372
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  • May 15, 2021 11:13am May 15, 2021 11:13am
  •  Varkeer
  • | Joined May 2015 | Status: Member | 251 Posts
no trading knowledge or discipline
Love to talk on Discord: DividendGamer#1324
 
 
  • Post #373
  • Quote
  • May 15, 2021 6:04pm May 15, 2021 6:04pm
  •  FaDfx
  • | Joined Mar 2018 | Status: trader | 105 Posts
Over the course of my journey and observing others, I have deduced some of the beginners' mistakes. The biggest mistake is the lack of a trading system. After all, a personal view of the market is not developed in one day. What does a beginner do? He found a strategy, or some kind of indicator, and immediately on the chart. I worked for a couple of days and threw it away. And so on in a circle.
And you need to look for yourself in the market and your method.
The fact of money is also important. After all, 99% of people come here for money. And it will be great if you get them quickly and without unnecessary stress. But they are not willing to work hard to start making money.
Advertising, it is very often misleading. On this topic, I will quote my thoughts, which I wrote more than a year ago:
“Your head is in the way, they gave you a shovel and told you to build a house here quickly. For some reason, in ordinary life, such a situation would cause a lot of indignation. you begin to realize what you need to build a house, and how it all connects with each other. "
Thanks for attention!
 
 
  • Post #374
  • Quote
  • May 25, 2021 4:31am May 25, 2021 4:31am
  •  DerekOB
  • | Joined May 2021 | Status: Junior Member | 6 Posts
Its the lack of knowledge and unrealistic expectations which leads to losses for newbies. Trading is not a cake walk and hence if we want to achieve good results we have to first learn then practice a lot to be able to do well.
 
 
  • Post #375
  • Quote
  • Jun 1, 2021 4:58am Jun 1, 2021 4:58am
  •  BrightFund
  • | Joined Jun 2021 | Status: Junior Member | 3 Posts
Quoting DerekOB
Disliked
Its the lack of knowledge and unrealistic expectations which leads to losses for newbies. Trading is not a cake walk and hence if we want to achieve good results we have to first learn then practice a lot to be able to do well.
Ignored
I agree with you, new traders often get impatient and want to earn quick profits, also they become so patient that they are unable to gain the sufficient knowledge and skills which actually works while forex trading.
 
 
  • Post #376
  • Quote
  • Jun 1, 2021 7:59am Jun 1, 2021 7:59am
  •  ziendab
  • | Joined Sep 2020 | Status: Member | 3 Posts
Just want to share what I've learned,

I won't let my emotions overpower my intelligence

Good luck...
[z]
 
 
  • Post #377
  • Quote
  • Jun 1, 2021 8:43am Jun 1, 2021 8:43am
  •  X1nXue
  • | Joined Jun 2021 | Status: Junior Member | 1 Post
When the novice first entered the market, the transaction was executed by his own subjective consciousness without any experience, or in the direction he thought. In this way, the psychology of repeated transaction was already gambling
 
 
  • Post #378
  • Quote
  • Jun 7, 2021 6:11pm Jun 7, 2021 6:11pm
  •  1roojefe
  • | Joined May 2021 | Status: Junior Member | 8 Posts
Greed and the lack of patience. Forex is very contradicting; not a get rich scheme but once you master the craft if gets you rich, quick!
 
 
  • Post #379
  • Quote
  • Jun 8, 2021 2:20am Jun 8, 2021 2:20am
  •  Jacob.FX
  • | Joined May 2021 | Status: Member | 9 Posts
Unfortunately like everything in life you have to take it easy, browse, learn educate yourself and take it easy. Everything else will come into place.
 
 
  • Post #380
  • Quote
  • Jun 10, 2021 1:30pm Jun 10, 2021 1:30pm
  •  Darkseeker
  • | Additional Username | Joined Jul 2019 | 79 Posts
From my perspective newbies lose because they come to trading with the strong feeling of easy money and they think that the only thing they need to is to click on the terminal and the money will come to them automatically without any efforts.
I think that the vast majority of reasons for failing in trading is this kind of feeling 'making money out of nothing'. That is sad to hear that some people went broke because of trading forex. I feel pity for such people but still it is they to blame for their failures. There is no easy money, everyone should work hard in order to earn a living and forex is not an exception.
Just be a realist and you will never lose.
 
 
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