reasons why traders lose

Yes most people fail in trading. They fail because of poor understanding of the market. We need knowledge and skills and a good discipline mind to get success in forex trading.

I think that poor risk management is probably the leading factor contributing to the majority of trader’s poor performance. I don’t think think it can be attributed to any one factor as a successful trader relies upon a system to ensure profitability. A traders system needs to be as mechanical as possible to negate emotion and ensure consistency.

True. It's a very poor idea to allow emotions to influence trading decisions.

Main reasons: Lack of diversification of the portfolio + bad investing strategy.

That's true, but we should never underestimate the role scammers play in traders' losses.

Right. Traders should avoid trading based on emotion like over trading or revenge trading.

True. Using high leverage without proper risk management is extremely risky.

As a new trader, you need to know both analysis perfectly. Without proper knowledge, it will be quite tough to make money from this market.

A business consists of both loss and profit. Without the combination of both two it is never be a business. We cann’t imagine a business without loss. As a business loss is also available in Forex market. Currencies of different countries are the main ingredient of this business. It is the best way of learning Forex is to take lesson from each and every mistakes which I always follow.

to keep consistence level is very much important and very tough game , because its a result from focus and discipline which is the human good habit.

Some of my tips for new traders is try to understand the trading business. You have to have knowledge and skills to do good in trading. Don't expect to make money just by entering into the market. Try to learn the mindset a professional trader should have.

generally we the traders always try to skip losses when trading in practically but loss is the only thing which can make us stronger and experienced , but if we do same mistake again and again there is no way to avoid loss completely , should always remember same mistake is a choice not anything.

1. How much money will I need?
2. Please elaborate
3. I want this to be my only income
4. ok
5.?
6. I accept I cannot win every trade
7. Can only be got with practice
8. I am well disciplined in other areas of my life so will look to bring that here.

1. How much money you need will depend on how much your strategy can yield you. Assume you want to get $4,000 a month, and if your strategy gives you an average of 10% per month, your capital will need to be at least $40,000.
2. Risk what you can afford. A rule of thumb is to risk 1% of your account every trade.
3. Refer to 1.

My personal golden rules (taken from my personal discord discussion channel)
- 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.

Thank You very much for that. Very interesting.

According to me, traders lose in the forex market because they do not learn from their bad trades and repeat the same mistakes again and again.

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.

Most of the traders don’t have the habit of learning from mistakes. Rather they prefer taking shortcuts, for which there’s no room in this market, which is why they fail. Never try to skip anything while you’re trading, learn from each trade and apply it in the next.

Thanks for posting these awesome tips! Really, it's very much beneficial!!!

Thanks for the helpful advice!