Trading Discussion Why some people fail and others succeed in forex

Wisdom01

Valued Contributor
People needs to know that to succeed in anything you need to take time to study it especially when there are technicalities with it. Forex trading just like any business needs experience and knowledge of it. It isn't a gamble for quick money so people needs to realize this. People that fails do it wrongly
People needs to know that to succeed in anything you need to take time to study it especially when there are technicalities with it. Forex trading just like any business needs experience and knowledge of it. It isn't a gamble for quick money so people needs to realize this. People that fails do it wrongly
People needs to know that to succeed in anything you need to take time to study it especially when there are technicalities with it. Forex trading just like any business needs experience and knowledge of it. It isn't a gamble for quick money so people needs to realize this. People that fails do it wrongly
Exactly its never a gamble any anyone who takes it as a gambling do not actually suceed more in it , because on the short run they start making profit from the site and on the long run they will start incurring too much unbearable loss,thats why its best to know how ro trade properly before choosing to invest in forex to earn online, there is demo trading to start with
 

Lens1000

VIP Contributor
You are very correct where you made mention strategy. In business one need to be creative and wise and without that the loss sometime will not be manageable or some one may not even succeed in the business. One need to learn very well before going to any business without that it will not be easy to make it especially when it come to forex trading.
Forex brokerages provide you a sufficient tools that will enable you manage risk. The risk involved in forex could be managed or minimized by setting a market order. This order tells you when to enter into trading and when to exit trading. It's called the stop-loss, take -profit order. These are the self sufficient tools that forex investors use to minimise losses.
 

Lens1000

VIP Contributor
It is similar to cryptocurrency , bit every cryptocurrency Investor makes cool money from it. For one to be able to make money from forex trading , then the person needs to work towards acquiring a good knowledge about forex trading . He needs to know different techniques used to make money from it.
Some people just with the basic knowledge dive in to forex trading and they lose money from it.
I agreed that it's very similar to cryptocurrency trade but many crypto Investors trade on instinct and that's the reason why most of the failed. When you can analyse the crypto chart , you will pull a successful trade in both the bearish and bullish markets. This is what Is obtainable in forex and that's why you see experts pulling consecutive successful trades in forex.
 

Lens1000

VIP Contributor
It is similar to cryptocurrency , bit every cryptocurrency Investor makes cool money from it. For one to be able to make money from forex trading , then the person needs to work towards acquiring a good knowledge about forex trading . He needs to know different techniques used to make money from it.
Some people just with the basic knowledge dive in to forex trading and they lose money from it.
As you have rightly stated, 90% of the cryptocurrency investors can't read and analyse crypto charts . This is a key to succeeding as a crypto trader. Same thing goes with forex trade , as you can't trade on instinct and expect a positive result. I call this gambling because the trader is clueless
 

Lens1000

VIP Contributor
In order to make a profit in the forex market, you need to maintain everything from risk management to strategy. If a trader cannot create the right strategy mindset, he will never be able to make a profit. As a trader, I never suggest trading without developing a strategy.
The risk management is a key to achieving a resounding success in forex. Most of the exchanges has made it very easy by providing a level playing ground. Setting your order appropriately as a beginner is very important. The strategy should be the expected outcome of the trade . This will tell your when to stop trading or continue trading
 

Robson Dey

Active member
Everyone wants to be a good trader. But it is not easy to become a good trader. If you want to be a good trader, first of all you should know all the format, theories and structure of forex market. Without any knowledge your investment will be a loss project. To make profit in forex market by investing money you should follow some basic steps.
Gathering knowledge, selecting a good broker and wisely make decision is the main elements of successful trading. I always take decision very carefully while i am going to trade in forex market. In taking my decision Forex4you helps me very much. they are helping me to become a successful trader in forex market.
 

Alexandoy

VIP Contributor
Most of the foreign currency now are stable in market prices because it relies on the exchange rate. Our peso against the USD is 50 now. If I buy USD and the peso becomes 60 then that is already 10 pesos gain for me. But if I would not exchange my dollar then it can still grow or it can go down in the exchange rate.
 

Chibson

VIP Contributor
The main reason a lot of people don't make money on forex trading is because the don't invest their time and money in knowledge and strategies of how to win and make a whole lot of money on forex trading. anyone who wants to venture into forex trading should be it in mind that he he or she must have a working strategy.
 

AmaliaTG

Active member
So many people are afraid of going into forex simply because, they believe that the risk involved is unbearable . The question is , why do people fail in forex market while others succeeded. People fail because the gamble their money trading on instinct. They never study the market strategies, they just enter into the market with the hope that their will be an increase. They fail to set entry and exit order before entering into trading

The foreign exchange should not be taken as a get rich quick scheme, it should be seen as the normal small business that we do . If we enter into trade with this perception, then, we will minimize loses. Sometime, you may go into forex with the right knowledge and fail. When you have a positive mindset that it is not a get rich quick scheme then your loses will be minimal

Before you enter into real trade , you need to use the game or the demo account for trading as a starter. The demo account makes you familiar with the trend and can help you know how to use the technical indicator to simplify the complex market movements into a clearer buy and sell signal

I believe that if you follow these steps , you will never regret trading forex
Your information is helpful, at least this is one post about trading that I have been able to understand. But my question is, how much minimum capital should should invest with? What if you don't have anybody to train you to start the business and how risky is it to trade in Forex? Is it a guarantee Earnings? And how long should you expect to make profit? I mean should consult with you since I can see you have some knowledge about Forex.
 

Ray Martinez

Active member
Creating and following a trading plan is critical to the success of the trader. Trading plans include daily trading routine, sources of market news, and events for market-wide perspectives to form fundamentals analysis, chart timeframes, and entry and exit timeframes for analysis to form technical analysis. Thanks to my broker Forex4you which give me the best trading condition to execute my trading plan perfectly.
 

Wisdom01

Valued Contributor
Yeah we are on the same page, no need being in a rush over what you don’t really understand. When once you need to indulge it, it will be wise to start with the demo account and move up from there. Forex needs a lot of understanding how it works
If someone want to even learn it fast the only best thing or suggestion is to consult a mentor because its the mentor that will guide him on the steps that would be taken to trade and earn on the forex market , because we all know how hard it is when it comes to earning on the forex market ,have personally done a trade and talking out of experience its really not easy and more focus is needed
 

Augusta

VIP Contributor
Exactly its never a gamble any anyone who takes it as a gambling do not actually suceed more in it , because on the short run they start making profit from the site and on the long run they will start incurring too much unbearable loss,thats why its best to know how ro trade properly before choosing to invest in forex to earn online, there is demo trading to start with
Yeah we are on the same page, no need being in a rush over what you don’t really understand. When once you need to indulge it, it will be wise to start with the demo account and move up from there. Forex needs a lot of understanding how it works
 

Lens1000

VIP Contributor
So many people are afraid of going into forex simply because, they believe that the risk involved is unbearable . The question is , why do people fail in forex market while others succeeded. People fail because the gamble their money trading on instinct. They never study the market strategies, they just enter into the market with the hope that their will be an increase. They fail to set entry and exit order before entering into trading

The foreign exchange should not be taken as a get rich quick scheme, it should be seen as the normal small business that we do . If we enter into trade with this perception, then, we will minimize loses. Sometime, you may go into forex with the right knowledge and fail. When you have a positive mindset that it is not a get rich quick scheme then your loses will be minimal

Before you enter into real trade , you need to use the game or the demo account for trading as a starter. The demo account makes you familiar with the trend and can help you know how to use the technical indicator to simplify the complex market movements into a clearer buy and sell signal

I believe that if you follow these steps , you will never regret trading forex
 

Augusta

VIP Contributor
People needs to know that to succeed in anything you need to take time to study it especially when there are technicalities with it. Forex trading just like any business needs experience and knowledge of it. It isn't a gamble for quick money so people needs to realize this. People that fails do it wrongly
 

Wisdom01

Valued Contributor
The issue is that forex itself is never a easy thing to do you have to be well inclined on how to trade and make more money trading forex , because most times the trade the person placed could go in the wrong direction ,so much focus should be the target when trading so the person investment and funds wont be at waste on the long run and the reason why some suceed and fail is that most people have not gotten the real knowledge about forex
 

sincerem

VIP Contributor
When you delve into forex trading as inexperienced dude or woman is very much risky. Forex to everyone notice isn't a get rich which scheme. Even the expert forex traders will tell you just that. Experts even make losses via forex trading talk more of beginners. Those who are too anxious and unable to control their emotions fall to losing a lot around forex.
 

Bookwormlux

Valued Contributor
Like you rightly pointed out, so many people fail to make enough money from forex trading because they have refused to take time to learn the rudiments and would prefer to always scream about the risks involved in it whenever someone talks about earninng from it. I believe that anyone who wants to earn from forex should take time to learn and get familiar with everything needed before going to waste their hard earned money.
 

Good luck

Verified member
Forex trading is a very risky business,it needs a good orientation and proper understanding to be able to excel or succeed in forex trading business.stock exchange market needs to be known.You need to know how to study the map and the strategy of investing in the market to avoid loss.It is a big risk that may worth it later.
 

Sherman198

VIP Contributor
I have come to think of it, that people who are successful in doing so, have an adequate technical knowledge or skills in doing so. If not, they can't be successful. If you go on forex doing gambling, one may not be successful. Some of the reasons why some people failed, is because they don't have adequate skills.
 

Nite

Valued Contributor
Forex market has been the largest financial market in the world. Among many forex investors, only few have been truly successful. And I agree about studying the market strategies first before jumping into forex trading, it's very important to do that, so mistakes can be avoided which will keep traders from achieving their investment goals.
 
Top