Why do Newbies Lose? | Page 17 | Forex Factory

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Why do Newbies Lose?

  • #321
  • Dec 21, 2020 7:34am Dec 21, 2020 7:34am
Quoting Awasim
Most of the new traders want to become rich very quickly so they look in hurry and want to make a profit after joining. But they lack knowledge and skills and have no practice over demo account so they mostly lose their money after some trades and quite the market. So my advice for all new traders is to take your time and learn the Forex completely it will be better for you and you will make a good profit after learning.
Yes. I completely agree with you. Most of the traders lose their money because of their greedy nature.
  • #322
  • Dec 22, 2020 2:57am Dec 22, 2020 2:57am
most of the new Forex traders loss due to over trading , because when making losses beginners try to recover this losses by trading over and over.
  • #323
  • Dec 22, 2020 12:20pm Dec 22, 2020 12:20pm
I agree, revenge trading leads to a lot of unfortunate losses.
  • #324
  • Dec 24, 2020 5:51am Dec 24, 2020 5:51am
It takes time to be profitable. But the sad thing is most newbie thinks three to six months demo trading will do the tricks. And when they realize it's too late for some traders. Trading is a skilled based job. You can't do it without being skilled.
  • #325
  • Dec 24, 2020 11:57am Dec 24, 2020 11:57am
Quoting mlawson71
I agree, revenge trading leads to a lot of unfortunate losses.

True. It can even blow your whole capital. So, never trade without proper trading plan.
  • #326
  • Dec 25, 2020 5:03am Dec 25, 2020 5:03am
Quoting HisaoFujioka
It takes time to be profitable. But the sad thing is most newbie thinks three to six months demo trading will do the tricks. And when they realize it's too late for some traders. Trading is a skilled based job. You can't do it without being skilled.
That's true. As humans, it is in our nature to seek reward immediately after putting in even a tiny bit of effort, that's why newbies who spend a few months on demo begin to think that they should become profitable right away.
  • #327
  • Dec 25, 2020 10:09am Dec 25, 2020 10:09am
Quoting Niels.Lar
{quote} True. It can even blow your whole capital. So, never trade without proper trading plan.
I've actually been there and done that as a newbie. It was a very harsh lesson.
  • #328
  • Dec 26, 2020 5:24am Dec 26, 2020 5:24am
Quoting Majeeda
most of the new Forex traders loss due to over trading , because when making losses beginners try to recover this losses by trading over and over.
Over trading is a bad habit of many traders. Trader should avoid all kind of trading style which involve emotion.
  • #329
  • Dec 26, 2020 10:25am Dec 26, 2020 10:25am
All trading involves emotion, one just needs to remain in control.
  • #330
  • Dec 28, 2020 2:14pm Dec 28, 2020 2:14pm
Losing money in the market is a common matter. You have to make a good plan to deal with your losses. You need to practice more and more to m minimize the risks and make money from this market.
  • #331
  • Dec 29, 2020 10:26am Dec 29, 2020 10:26am
True. Practice makes perfect, as they say, although with trading perfection is unattainable. The best we can hope for is to make more profits than losses.
  • #332
  • Dec 29, 2020 11:25am Dec 29, 2020 11:25am
Quoting mlawson71
True. Practice makes perfect, as they say, although with trading perfection is unattainable. The best we can hope for is to make more profits than losses.
I also agree. Practice as much as possible to be a skilled trader.
  • #333
  • Dec 30, 2020 11:54pm Dec 30, 2020 11:54pm
There can be many reasons behind a trader losing. Some of the major ones are choice of wrong broker, unsuitable trading style, no proper knowledge, less/no control over emotions and improper risk management.
  • #334
  • Dec 31, 2020 3:32am Dec 31, 2020 3:32am
It would not have been possible to trade without economic news. The movement in the market is good due to the effect of the news. If a trader has no idea about the fundamentals, he will never be able to make a profit. If trading can be done by combining fundamentals with technical, then the chances of loss will be less.
  • #335
  • Dec 31, 2020 6:43am Dec 31, 2020 6:43am
There is some misconception among new traders. They think within 3 to 6 months they can be enough skilled to make to money by trading. They are not willing to give time in learning. They are in hurry. As a result they lose years after years. And what they learn? Nothing!
  • #336
  • Jan 2, 2021 10:54am Jan 2, 2021 10:54am
The reason why most newbies lose in forex tradgn is because they think that forex trading si oen thing when it is actually another thing. If you take a moment to go through the various forex ads then you will realise that those ads have a very different meaning to forex. They barely scratch the surface of what forex trading is all about. This leads newbies to join forex thinking it is just as what the ad showed whether is more to it They then start trading without any good knowledge of forex and their downfall begins right there. You need to learn forex first before you join. You can then be able to tell if you will be able to handle it or not.
  • #337
  • Jan 2, 2021 11:14am Jan 2, 2021 11:14am
What do they think forex is then?
  • #338
  • Jan 4, 2021 6:58pm Jan 4, 2021 6:58pm
Trading knowledge is very weak, starting from the confidence of the newcomers. This is why even if they make some profit, they can't keep that profit for long.
  • #339
  • Jan 5, 2021 1:06am Jan 5, 2021 1:06am
when i was a newbie in Forex trading , honestly speaking most of the time i losses due to same reason which was emotions and greediness , when making a losses tried to recover this losses by another trade , it was the major mistake i had , and always trying to make profit instantly by using high leverage , this is another one.
  • #340
  • Jan 9, 2021 11:14am Jan 9, 2021 11:14am
The most common reason why most newbies lose and will always tend to lose is the fact that he never actually have an actual idea of what forex is. They may think they do but the truth is that most of them do not. The way you see for before you join and the way you see it after you join and learn about it is very different. If you join and you stick to your original view of it then you will most probably make some reckless decision and end up losing all of your money like the newbies always do. You need to understand forex first before you can say that you are ready to trade. There is a lot to learn for that matter.
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