Key reasons behind the low success rate among the novice traders

Barbara Smith By Barbara Smith, 27th Apr 2017 | Follow this author | RSS Feed
Posted in Wikinut>Money>Forex Trading

Trading the financial instrument is an art and it requires pin perfect execution of the trading plan. If you think that trading is the perfect job for you then make sure that you follow strict trading discipline and execute your orders in the market by following proper risk management factors. And always make sure that you are not trading with emotions since it is the greatest enemy of the forex trader.

Forex Trading

Trading the financial instrument is getting very much popular in every single day. In the past trading the live assets were only limited to large banks and institutions but due to recent advancement in the technology, the retail traders can easily access the financial market. Though the forex market is an extremely profit potential place but if you look at the success rate then you will be surprised. According to the statistics out of every 100 trades, only 5 are making money in the forex market. So who are these 5 percent people? These 5 percent are the professional traders who know the perfect way to trade the live assets in the market. In this article, we will discuss regarding such a drastic failure in the forex market.

Greed and fear

If you want to become a profitable trader in the forex market then you need to control your green and fear in the market. For instance, most of the novice traders in the forex industry find it hard to resist their greed when they notice a trading single in the easyMarkets mobile apps. But before you execute any orders in the market make sure you do the perfect analysis or else you will be losing money in the forex market. Similarly, if you spot a profitable trade in the market don’t feel nervous rather execute the orders in the market by using the robust easyMarkets mobile apps in the market.

Lack of trading knowledge

If you want to succeed in a specific area then you need to have the perfect mindset to master the every possible thing in that sectors. Most of the novice traders in the forex market fails to achieve success in the forex market since they don’t spend enough time in education themselves. They simply download the easyMarkets mobile apps and execute their orders without doing any sort of analysis in the market. If you look at the professional traders then you will notice that every single one of them are very knowledge and they trade the market with rational logic.

Unrealistic expectations

Unrealistic expectations are one of the major cause for which so many traders are failing in the forex market. Most of the rookie traders think that they will become a forex millionaire within a short period of time without having the perfect knowledge in the financial industry. They simply execute high lot size trade in the market and ultimately blow up their trading account. So if you truly want to become successful traders then make sure that you set a realistic goal in the forex market.

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