Top 6 Reasons Why Forex Traders Fail

forex fail - Top 6 Reasons Why Forex Traders Fail

In reality there are only few successful in forex trading business even though there are many forex investors. Forex Market is the world most largest and accessible financial market in the world. In this article, i will be listing the top 6 reasons why Forex Trader Fail in 2018:

No Trading Discipline at all

trading discipline - Top 6 Reasons Why Forex Traders Fail

Emotions is the biggest pitfalls of majority of forex traders specially during trading decisions. They can’t control their emotion and just deciding to bet hoping to gain their potential lost in the last failed bets. Successful Forex Trader definitely wish to achieve big wins however they also experienced smaller losses. Getting consecutive losses is so difficult to handle emotionally. Discipline plus patience and confidence plus conquering emotion will definitely achieved a well planned trading to improve more the chances of winning.

Trading Without a Blueprint Plan

trade plan - Top 6 Reasons Why Forex Traders Fail

Its a must to create a blueprint plan in the world of forex trading. You need to remember that failing to plan is like planning to fail your bet. Most successful forex trader works with a proper documented plan that includes potential risk management and a forecast of return on investment or ROI.

Not Adapting to the Market

adapt forex market - Top 6 Reasons Why Forex Traders Fail

Forex Market is opening and closing and you should create a plan for every trade. It’s a mush to conduct a scenario analysis and planning every moves plus countermoves for the market situation can definitely reduce the potential risk and unexpected market losses.

No Trial and Error please

Sometimes the saying learn from experience is not an efficient way to trade in forex trading business. It would be better if you access the experience of successful traders rather doing trial and error. This is achievable through formal training and coaching provided by Magic FX Strategy Team.

Super High Expectations

Forex trading is not an easy get rich quick scheme. It requires recurrent efforts to master all the forex strategies before become successful.

Very Poor risk and Money Management knowledge

It’s another must to focus on risk management in creating strategy. There are forex individuals who trade without any protection from using stop losses in fear of being stopped out so early. Most successful traders know how much of their capital is at risk and know the appropriate projected results and benefits. Many forex traders fail because of lack of knowledge and to avoid some of these reasons, you need to build a relationship with those successful forex traders who can guide you with the right trading disciplines to overcome all potential risk. Helen Ammons of Magic FX Strategy will provide you solutions to become a successful forex trader online.

Can you really make money in Forex Trading?

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If we hear the word forex trading then the first thing that will pop up in our head is financial, money, exchange or profit but is forex trading really profitable? Can you really make money in forex trading? In this article, i will elaborate further on why this market industry trades around $5 trillion daily in volume really a profitable business.

Before moving forward, is forex trading for you? Always remember that this is not applicable for all you and you really need to have passion in this to increase the chance of success. As we all know the risk is high in forex trading. The results are not always profit and sometimes you always experience losses as well. So are you ready to keep going and stiving those losses? Here are all my tips:

Make sure to invest wisely

Always understand the basic in forex trading first and make sure you are ready and comfortable before trading. You need to ask yourself if you are really ready for whatever the output then go for it. Understand that you don’t need to invest more than 20% of your entire investment in forex trading as what other successful professional traders d.

Trading Strategy is a must

Forex trading requires a high level of patience, discipline and a strategy that will help you stay focused and totally avoid emotional trading problem. Strategy sometimes comes with experience. Always make sure to use a demo account in forex platform before going live. You need to under how the market really work first and have a blueprint to success strategy.

Always keep your emotions aside

This is extremely important because this is the worst enemy of all forex traders. Just like in the casino settings, if you loss dramatically then your temper will push you to go further until you can recover your losses. Sometimes this will make your life ruined because you let your emotion controls you. Always understand how the market really works, stop and learn by using the stop-learn strategy.

Make sure you are up to date in the current market issues

market issues forex - Can you really make money in Forex Trading?

Always follow those top performer in forex trading including the global forex market community. In this way, you are up to date with regards to different strategies, techniques and experience from other professional market traders. You will also have a good idea if its the right timing to go for forex trading or not.

Forex Trading Guide to Success in 2019

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Year 2019 means another new year of opportunity in Forex Trading. Everybody wants to earn even more and the good thing about forex trading is that you have a freedom to earn anywhere and anytime as long you have a computer/mobile phone and reliable internet connection. Though I want to reiterate that forex trading is not an instant millionaire business, it requires ample time, training and experience to surefire your success of winning your bets.

In this article guide, I will discuss the best Forex Trading Success Guide in 2019 that i personally used last 2018 and other previous years.
Use and Adopt several strategies

Always remember that not all strategy works for every individual. The reason behind is that market is at risk and most forex traders often need to analyze the strengths and weaknesses as they need to decide if its good for long term or just short term success. So traders need to understand the different trading strategies like position trading, day trading, scalping and others to easily adjust the demand in the forex market.

Platforms are not created equal

Not all platforms and programs will work for you. Always use and invest in a reliable proven program that offers great success, accurate forex quotes with highend security that enables series of forex analysis. Also for starter, it should be great if you use a user friendly interface that is easy to understand and responsive. Go with those with FREE demo account before going live.

Educate yourself through proper mentoring and coaching

coaching mentoring forex - Forex Trading Guide to Success in 2019

The chance to incur more losses than earning is always at high risk in forex trading market especially if you are a newbie and starter in trading. Magic FX Strategy offers solutions to be well equipped and ready before starting your bet. Rather than taking chances and increase your losses, why not invest in educating yourself first, right? Its like going into a battlefield ready with weapon and armor with a master plan where to go next so you have a high chances to win the game versus those that are not prepared and seems a suicide battle. Always remember to learn from your mistakes if ever you are past trader. Everybody experience loss throughout the years but let’s move forward this coming year 2019 and earn even more through forex trading.

3 Strategy ways to Improve Forex Trading

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Making regular returns in the world of Forex Trading can be a lot of work to do, but if we are positive and always looking forward to improve yourself then you will increase the chances of winning. In this article, it will be explaining the different strategies to improve Forex Trading in 3 ways using Forex trading methodology that can yield impressive performance result.

Always keep in mind that these strategies won’t be applicable to every person and every strategy. I just added here general tips that Magic FX Strategy selected based on our years of experienced.

Strategy 1: Always limit your forex risk

This is a common behavior and biggest struggles of Forex Traders. Most new traders are often bet in the platform on each trade and normally getting little success in the result. So I suggest that you should never risk more than 2% on one trade and only 1% can be a better option if you are still gaining your skills in betting.

Strategy 2: Make sure to Buy, low, sell high

This is another simply trick and key to getting a high rewarding setups. Normally big declines are met with bounces. I recommend you should avoid moves that you missed out before and if there is an feasible big move and you want to continue with that, make sure to wait for a weakness spot like candles often go down as low as 50% before closing. Don’t ever buy the top of a big candle.

Strategy 3: Remember to wait for the signal

In buy low sell high, it doesn’t mean that you will reach the bottom of the right down movement of your pips. It only means that you need to start looking for available buying chances in the lower range end and selling opportunities in the upper range end. You can enter the low risk by waiting for the right trade signal. Also, don’t select bottoms and tops, just wait for the right moment for the market to tell you if its the bottom or top signal.