Top 15 Reasons Why Forex Traders Fail

1
Top Reasons Why Forex Traders Fail

• theforexsecret.com

2
Why Forex Traders Fail

• The Wrong Idea About The Market
• Unprepared  Forex Trading Failure
• Using Your Emotions To Dictate Your Trading
• Trading The Low Time Frames
• Relying Heavily on Indicators
• Absent Money Management
• Trading The News Releases
• Not Sticking To The Plan
• Over Trading

theforexsecret.com
3
Explained

• The Wrong Idea About The Market-
• Forex trading is not the get rich overnight,
  quit your job tomorrow kind of venture that it
  is promoted to be all over the internet. Beware
  of systems that promise the world, internet
  marketers are very good at pumping you up for a
  quick sale. If youre serious about becoming a
  professional trader like anything it will take
  time to learn and adjust.
• Unprepared  Forex Trading Failure
• Fresh traders enter the market totally unprepared
  for what they are up against. They get chewed up
  and spat out before they can say, what the?
   Forex trading should be treated like a new
  business start-up. Invest solid time and learn
  about the Forex markets before diving in the deep
  end.

theforexsecret.com
4

• Using Your Emotions To Dictate Your Trading
• The most dangerous thing to your trading is you.
  Your unchecked emotions are one of the worst
  things you can bring to the financial markets.
  They can destroy hard earned progress in seconds.
  Dont just focus on mastering your trading
  strategy learn to master your mental and
  emotional strength and desire to reach the
  ultimate level of discipline.
• Trading The Low Time Frames
• Low time frame trading doesnt provide a good
  trading environment where you can perform clean
  market analysis. Its a noisy environment that is
  hunting ground for high risk appetite scalpers.
  Low time frame trading is notorious for flaring
  up dangerous emotions within traders, causing
  them to crash and burn time and time again.

theforexsecret.com
5

• Relying Heavily on Indicators
• Traders turn to indicators for the classic buy
  on green, sell on red setup. But most indicators
  were designed to work with markets in the 1960s,
  and dont work as well as they should today.
  Traders often use indicator stacks to try filter
  out bad signals, but only manage to turn their
  chart into a mess. Indicators lag too much to get
  you involved with the real action of the market.
• Absent Money Management
• Learning proper money management is just as
  important as learning a trading system. Dont
  guess your position sizes if you dont know
  how to set them correctly, make an effort to
  learn how to. Make sure you always use a positive
  geared money management plan so your winners out
  perform your losses.

theforexsecret.com
6

• Trading The News Releases
• If you want to be a successful trader, dont get
  caught up trying to trade economic releases from
  the Forex news calendar. Price gets very volatile
  around certain releases making it hard for us to
  enter/exit the market smoothly. By the time you
  see the news data, the rest of the market has
  probably already responded and the majority of
  the move is probably over before you can even
  click the buy or sell button.
• Not Sticking To The Plan
• One of the biggest tests of discipline is being
  able to stick to your trading plan and not be
  tempted to make knee-jerk reactions to price
  moves that are outside of your trading rules. As
  soon as you display weakness to the market, you
  will suffer. Pulling the trigger to early, moving
  your stop loss where you shouldnt, not sticking
  to your money management plan are all signs
  youre not disciplined enough to stick with your
  own rule set.

theforexsecret.com
7

• Over Trading
• Over trading is one of the biggest killers in the
  market. Over trading is like smoking to lung
  cancer once it gets out of control it is very
  hard to stop and potentially fatal. Many traders
  follow the philosophy of the more trades they
  open, the more they can profit but sadly its
  usually the reverse.

theforexsecret.com
8

• Follow Us
• Facebook https//www.facebook.com/TheForexSecret/
  
• Twitter https//twitter.com/Dforexsecret
• Instagram https//www.instagram.com/dforexsecret
  /
• Telegram https//t.me/theforexsecret
• Pinterest https//www.pinterest.com/candacethom
  as728/
• Tumbler https//www.tumblr.com/blog/candacethoma
  s728
• Quora https//www.quora.com/profile/Jacki-Exavi
  er
• Youtube https//bit.ly/2Uu0635

theforexsecret.com
9
THE FOREX SECRET
theforexsecret.com