Trading was so not easy for me in the beginning, i was a rash and reckless, much stable now though. but i would say that it is definitely possible to loose money (from personal experience).
Ignored
The mistakes are very common here; in my early stage I was also rushing. It’s a very common scenario.
|
Additional Username
|
Joined Mar 2016
|641 Posts
this attitude comes from emotions when trading as a beginner.
when i was a newbie most of the time lost equity by over trading
above when try to recover losses.
{quote} The mistakes are very common here; in my early stage I was also rushing. It’s a very common scenario.
Ignored
Indeed. Everyone has sailed in this boat while trading fx. Trading is the name for winning and losses. There is no point of saying that losses are impossible. I don’t think there was or can be any trader who has never suffered a loss in fx trading.
|
Additional Username
|
Joined Mar 2016
|641 Posts
traders have no ability to reduce loss completely, its a common attitude which cant avoid in spite of having most powerful analyzing trading knowledge , it gives us a great lesion so we should take it with cool mind with no anger.
{quote} The mistakes are very common here; in my early stage I was also rushing. It’s a very common scenario.
Ignored
This is indeed true. We tend to rush without thinking in advance on what analysis, skills to use. The important thing is that if we actually learn from our mistakes which will help us to grow further.
{quote} This is indeed true. We tend to rush without thinking in advance on what analysis, skills to use. The important thing is that if we actually learn from our mistakes which will help us to grow further.
Ignored
No doubt, learning from own mistake is the best practice! But, it’s not easy, indentifying the mistake is easy but work on it & eventually control this issue is the most challenging part!
{quote} No doubt, learning from own mistake is the best practice! But, it’s not easy, indentifying the mistake is easy but work on it & eventually control this issue is the most challenging part!
Ignored
Couldn't agree more. It gives you this perception that you actually realized your mistake and you are working on it to avoid dealing the same mistake again. But yes, it is not really easy to find the mistake but it is always good to have a baby steps one at a time.
traders have no ability to reduce loss completely, its a common attitude which cant avoid in spite of having most powerful analyzing trading knowledge , it gives us a great lesion so we should take it with cool mind with no anger.
Ignored
Couldn’t agree more. Even I have seen many losses when I started to trade, but there’s only one way we can handle them properly and move forward and that is to take them in a positive manner and learn from them. One has to make sure that he/she doesn’t make that same mistake again, losses will automatically start to fall.
|
Additional Username
|
Joined Mar 2016
|578 Posts
I think losing money in Forex is more easy as compare to earning a profit. The loss ratio is high as compare to win ration in this market for many traders.
I think losing money in Forex is more easy as compare to earning a profit. The loss ratio is high as compare to win ration in this market for many traders.
Ignored
I completely agree. People get blinded by their greed a lot.
{quote} Couldn't agree more. It gives you this perception that you actually realized your mistake and you are working on it to avoid dealing the same mistake again. But yes, it is not really easy to find the mistake but it is always good to have a baby steps one at a time.
Ignored
True; this is why, having a trading journal is very much useful! It helps a lot (according to my own trading experience).
I think losing money in Forex is more easy as compare to earning a profit. The loss ratio is high as compare to win ration in this market for many traders.
Ignored
in every sector loses percentage always high than profit ratio. so it natural.
|
Additional Username
|
Joined Jul 2020
|129 Posts
There is no business where there is no loss. Trading is not the opposite. There are many losses in trading but many traders can control it and many traders cannot control it. Those who can control this loss can become successful traders one day in the life and those who can't accept the loss get lost in trading so 95% of people in trading are known as losers. If you understand everything and trade, you are likely to lose Less and if you trade without knowing anything, a lot of losses will wait for you.
What are you saying? We can never lose in Forex? How is it possible, I have heared already that over 90% traders lose in Forex trading.
Ignored
Proper money management will prevent you from losing fast. Even setting simple stop loss will greatly decrease chances of large and fast loss. Many traders lose because they become impatient.
{quote} Proper money management will prevent you from losing fast. Even setting simple stop loss will greatly decrease chances of large and fast loss. Many traders lose because they become impatient.
Ignored
Totally agree with you. Impatience is very common among traders.But my experience so far in forex has taught me that the best decisions can be made when your mind is calm and you are patient.
{quote} Totally agree with you. Impatience is very common among traders.But my experience so far in forex has taught me that the best decisions can be made when your mind is calm and you are patient.
Ignored
Totally. Nothing good comes from a disturbed mind.
