WHY 95% OF FOREX TRADERS BLOW THERE ACCOUNT

in #failure7 years ago

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Like myself im sure most have you have had enough of your normal 9-5 job and have looked elsewhere for a step closer to financial freedom, the obviously way is to learn how to trade the forex, but this is alot harder than it sounds, but once you've educated yourself and gain knowledge this is a skill set you will have for life.

But like most beginner traders its hard to take a lose so you will instantly want to win back what you have just lost and jump straight back into the market, the second you do this you have already failed, after learning how the market works you need to except that you cant win every trade and eventually you will suffer loses, these loses could happen 6 times in a row, this doesnt mean your analysis was wrong it just means the market went the other way, and as long as you have managed your risk (1%) you have only lost 6% of your account balance, and like most traders when you take out a trade you are looking for atleast a 3-1 return so you will only need 2 winning trades to replace the 6 loses, but new traders will expect to see there account go from $1000 to $10,000 in a week but unless you are very, very lucky this is highly unlikely.

The best saying related to forex is "its not a sprint its a marathon"

Being patient is key🗝