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The Cause of Failure in Forex is Ourselves

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Deplu

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Do you agree with my opinion because failure in the forex business is a result of ourselves. Even though we already know that many failures in forex are caused by:
1. Over Lot
2. Overtrade
3. Trade without SL
etc.
But most of us we always over lot and over trade so our Margin Account will be depleted if we take the wrong position even though the price only moves a few pips. Then what about your opinion about the causes of failure in Forex?



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#1 - September 12, 2022, 10:39:37 PM

Dana D

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Quote from: Deplu on September 12, 2022, 10:39:37 PM
Do you agree with my opinion because failure in the forex business is a result of ourselves. Even though we already know that 
I strongly agree, but many people who do not realize that the source of losses in their trading is themselves, this is dangerous in my opinion because they will continue to loss
#2 - September 14, 2022, 10:27:26 AM
« Last Edit: September 14, 2022, 09:51:15 PM by Mikser »

azharilutfi275

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Of course we ourselves make mistakes and we ourselves will bear the consequences when we margin call.
#3 - October 24, 2022, 09:25:46 PM

Indika

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It is true, our emotions are very destructive
#4 - November 15, 2022, 08:20:29 AM

Timah Panas

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many people are not aware of this
#5 - November 17, 2022, 04:26:33 AM

Kardel Sharpeye

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The primary cause of failure in forex trading is often ourselves. This can include a range of factors, such as:

Lack of discipline: Failure to follow a trading plan, take appropriate risks, or stick to a strategy can lead to poor trading decisions and losses.

Emotional trading: Allowing emotions such as fear, greed, or impatience to influence trading decisions can lead to poor performance and losses.

Inadequate education or preparation: Entering the forex market without sufficient knowledge, skills, or preparation can lead to poor decision-making and losses.

Overtrading: Taking on too many trades, or trading with too much frequency, can lead to exhaustion, poor decision-making, and losses.

Failure to adapt to changing market conditions: Failing to recognize and adapt to changes in market conditions, such as shifts in trends or volatility, can lead to poor performance and losses.

Successful forex traders recognize the importance of discipline, emotional control, ongoing education, and flexibility. By addressing these potential sources of failure, traders can improve their chances of success in the forex market.
#6 - March 01, 2023, 10:28:23 AM
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