{"id":7350,"date":"2020-07-09T10:00:00","date_gmt":"2020-07-09T07:00:00","guid":{"rendered":"http:\/\/thetraderinyou.com\/test\/?p=7350"},"modified":"2021-06-19T17:28:09","modified_gmt":"2021-06-19T14:28:09","slug":"5-reasons-why-forex-traders-fail","status":"publish","type":"post","link":"https:\/\/thetraderinyou.com\/test\/5-reasons-why-forex-traders-fail\/","title":{"rendered":"5 Reasons Why Forex Traders Fail"},"content":{"rendered":"\n<p>I started trading from scratch. It wasn\u2019t easy<\/p>\n\n\n\n<p>But patience, determination, and strategy worked.<\/p>\n\n\n\n<p>Though I have learned so much, I am still improving my skills<\/p>\n\n\n\n<p>From my trading journey, I\u2019ve learned these five reasons <a href=\"http:\/\/thetraderinyou.com\/test\/become-a-disciplined-trader\/\">why forex traders fail<\/a>.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">5 Reasons Why Forex Traders Fail<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">1. <a href=\"http:\/\/thetraderinyou.com\/test\/trading-emotions\/\">Greed<\/a><\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Many traders feel that they need to stay in a trade until the last pip of a move in the forex market.<\/p>\n\n\n\n<p>They want to make money from every trade they enter.<\/p>\n\n\n\n<p>They believe there is money to be made in the forex market every day.<\/p>\n\n\n\n<p>When a trader tries to grab every last pip of a trade, they tend to hold positions for too long, and it will result in losing the profitable trade.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">2. Insufficient Capital<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Most investors know the fact that it takes money to make a return on investment.<\/p>\n\n\n\n<p>But, when you enter into the forex market, one of the significant advantages you have is the availability of highly <a href=\"http:\/\/thetraderinyou.com\/test\/forex-brokers\/\">leveraged accounts<\/a>.<\/p>\n\n\n\n<p>It means forex traders with insufficient or limited starting capital can still make big trades.<\/p>\n\n\n\n<p>There lies the problem, high leverage though promises significant returns, it also guarantees you will lose your capital fast.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">3. Trading Addiction (Overtrading)<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Another reason why most forex traders fail is trading addiction \u2013 it is one of the worst habits most forex traders have.<\/p>\n\n\n\n<p>Traders with trade addiction do things that institutional traders never do, like chasing prices.<\/p>\n\n\n\n<p>Forex trading can be exciting. It lures traders to make trades one after another, for the thrill, and for the attempt to make money fast.<\/p>\n\n\n\n<p>The more you trade, the more you expose yourself to trade risks and the more trade costs in commissions and spreads you incur.<\/p>\n\n\n\n<p>Please don\u2019t overdo it.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">4. Poor Execution \/ Implementation<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Implementation or execution is another significant aspect of the currency market.<\/p>\n\n\n\n<p>Planning is an essential factor in becoming a successful trader, but a plan without implementation will not give you any results.<\/p>\n\n\n\n<p>All successful forex traders not only have a plan or strategy on their minds, but they also execute their plans.<\/p>\n\n\n\n<p>They do not enter any trade randomly, and this allows them to make huge profits, more than the average trader.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">5. Lack Of Knowledge<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Making mistakes and learning is human nature, but what if you are making mistakes consistently in a particular field?<\/p>\n\n\n\n<p>This happens only when you don\u2019t have a clear idea about that field.<\/p>\n\n\n\n<p>Similarly, in the currency market, traders fail because of a lack of sufficient knowledge.<\/p>\n\n\n\n<p>When you play the forex markets without a sound understanding of how the markets work, you lose.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Digest these and make sure you do not fall into this category, make sure you are prepared and have PURPOSE in the market.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Apart from edits for clarity and minimum word count &#8211; the tips were shared by James Kwenya, a Civil Engineer and a forex trader from Kenya; you can find him on <a href=\"https:\/\/www.linkedin.com\/in\/james-kwenya-5649a7134\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Got a story or advice to share with our audience? We\u2019ll give you the platform. Contact us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avoid the pitfalls in this post that reveals the not so secret 5 reasons why forex traders fail. <\/p>\n","protected":false},"author":1,"featured_media":9226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[305],"tags":[304,303,30,302],"fx-broker":[],"trading-prop-firm":[],"table_tags":[],"acf":[],"nelio_content":{"isAutoShareEnabled":true,"autoShareEndMode":"never","automationSources":{"useCustomSentences":false,"customSentences":[]},"followers":[1],"suggestedReferences":[],"efiUrl":"","efiAlt":"","highlights":[]},"_links":{"self":[{"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/posts\/7350"}],"collection":[{"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/comments?post=7350"}],"version-history":[{"count":3,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/posts\/7350\/revisions"}],"predecessor-version":[{"id":9228,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/posts\/7350\/revisions\/9228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/media\/9226"}],"wp:attachment":[{"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/media?parent=7350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/categories?post=7350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/tags?post=7350"},{"taxonomy":"fx-broker","embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/fx-broker?post=7350"},{"taxonomy":"trading-prop-firm","embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/trading-prop-firm?post=7350"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/thetraderinyou.com\/test\/wp-json\/wp\/v2\/table_tags?post=7350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}