Not Maintaining Trading Discipline, Trading Without a Plan, Failing to Adapt to the Market, Learning Through Trial and Error and Having Unrealistic Expectations are five reason according to me where traders fail. The simplest way to avoid some of these pitfalls is to build a relationship with other successful forex traders who can teach you the trading disciplines required by the asset class, including the risk and money management rules required to trade the forex market.
I believe one of the strongest reasons is taking the learning phase lightly and not practicing enough trading are some of the common reasons of failures.
It seems to me that a number of reasons can be added to these reasons, which are individual for everyone.
There will be many reasons for failure, and everything will depend on how much you are able to cope with it.
There are many reasons to fail in Forex trading but according to me not having a trading strategy definitely adds more risk to trader's trading if they are having hard time defining their target and goal.
actually we the traders always loss due to same reason and which is lack of knowledge , on the other hand despite of having knowledge trading can be useless if there is no regular practice.
Studying hard, researching and adapting to the markets, preparing thorough trading plans, and, ultimately, managing capital correctly can lead to profitability. Follow these steps and your chances for consistent success in trading will improve dramatically!
Exactly. Numerous reasons and that because each trader is different and hence goes through different challenges.