Forex Tutorial
January 17, 2017

The Main reason Why Forex Traders Fail!!!!

It has been said by The Ultimate Traders Package and by Market Traders Institute that in trading 10% of Traders Succeed and 90% of Most Novice Traders Fail.

Why is that??

The Answer is said to be Lack of Education and I believe that to be 100% correct.

On the other hand what if you ARE educated and still continue to fail? Then I believe the following below may be of some help to traders who ARE educated, but are still struggling with the PSYCHOLOGY of Trading. Believe me when I tell you FEAR and GREED are REAL emotions most all Traders go through at one time or another. I know from personal experience and until you can overcome these two emotions it will be difficult to find consistent success.

Please Read on and let me know your thoughts!

Forex Trading Psychology – The Main reason Why Forex Traders Fail

Forex Trading Psychology
There are many answers in the market to this question: Why do most forex traders fail?
– Some blame it on over trading
– Some blame it on emotions
– Some blame it on revenge mentality
– Some blame it on impulse
– Some blame it on the market
– Some blame it on bad luck
– Some blame it on poor entry
– Some blame it on not taking profits
– etc etc etc
As you can see, there will be tons and tons of reasons that explains why forex traders fail.
This is all that relates to forex trading psychology.
But i strongly believe that it all leads to one answer: MONEY

Forex Trading Psychology – The Main reason Why Forex Traders Fail

Yes, the answer is MONEY.
The main reason why most traders fail is because of money.
No doubt that we all trade forex for the money.
But it will be the money that kills us in forex.

Let me explain.

To us our money that we put in our forex capital is our hard earn money. Whos isn’t?
when we have that mentality that we CANNOT lose the money in our capital were doomed from the start.
All man and women are greedy to some degree. We want to multiply our capital FAST.
That’s when we lose it all.
To succeed in forex trading, we have to FORGET that there’s money involved.
You have to learn to trade not because of the money, But because you like forex trading and you are passionate about it. FOCUS ON CAPTURING PIPS!!!
You have to learn to trade right and not trade for the money.
When you trade right and forget about the money, the money will come naturally.
But when you are too focused on the money, all your emotions will trigger.
You will get into impulse trades, probably because you lost on the last trade and you want your money back.
Or because you look at the trade and you are so confident about it, you GAMBLED your whole account size on that trade to lose it all by over leveraging.
Or because you want to feel good and look good, and you think that you are able to double your account in a week. So you take trades that are way beyond your equity management risk %.
Or you made a series of losses, and you think that if you increase your risk percentage on this particular trade, you will make back your losses.
And the list goes on…

FOREX TRADING PSYCHOLOGY – The Main reason Why Forex Traders Fail

All the above reasons leads to the main answer. MONEY.

If we are not trading for the money, but for CAPTURING PIPS we open the door to freedom and opportunity and open mindedness and clarity to become superior analysts!

If we just want to focus on mastering our trading and trading it right there will no longer be any emotions in place.
I highly recommend traders to forget about the money in forex. FOCUS ON PIPS!
Trade with your forex trading system and stick to it with discipline. Focus on trading right. PLAN YOUR TRADE…AND THEN TRADE YOUR PLAN!

It is even better if you can cover up the money part on your forex broker screen. Ignore how much your account size has grown or how much have you lost.
When you are able to do that, you will then see the bigger picture and you will be more analytical rather than emotional on your forex trades.

So the next time someone ask you – what is the main reason forex traders fail?
You know your answer: MONEY!!!

oh yeah, and LACK OF EDUCATION too! Have a great Day everyone!