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Why do Newbies Lose?

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.
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.
I agree, revenge trading leads to a lot of unfortunate losses.
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.
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.
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.
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.
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.
All trading involves emotion, one just needs to remain in control.
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.
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.
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.
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.
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.
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!
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.
What do they think forex is then?
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.
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.
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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