you lose on the Forex market due poor approach, undisciplined behavior, and bad money management. If you lose continuously then you need to quit trading for a while until you gain the lost confidence again.
What do you mean by an annual bill? I think your broker is hassling you. Tell him to give you the financial history details. Forex is a risky business but ten thousand dollars in annual bill. Get to the root of the situation and please tell us about your findings as well.
when did you start trading?
i have seen , most of us become loser especially beginners due to emotions. any idea how can we control emotions when trading ?
Have you developed any trading strategy? Or you just use random trading strategy? Whatās you risk reward ratio? Do you have anything specific? Do you follow any risk management system? If you donāt have valid answer to all these questions, you are doing it wrongly years after years.
Go through your trades carefully. Analyze your trading strategy and rework it if necessary or build a new and better one. If you are taking too many losses donāt invest a large amount. Better yet, stop trading, at least for some time. Donāt lose hope!
@BaconSandwich This is a very well structured response. Thanks for the input - Itās a solid little nugget of advice!
Right. Controlling emotions can be tricky. Iād say find a recreational hobby, something to take your mind off trading for a little while. Talk with your friends. Go out take a walk. Set your limits. Donāt keep on trading even if all you are making is losses. What about you? How do you cope with your trading emotions??
I agree. Generally speaking, itās good to basically have a life outside of trading. Other interests, family, friends, all these things provide immense emotional support.
Dont give up.
Below is my current performance since February 1st this year. This is after I spent 2016 to January 2018 testing a new approach.
This has come from just 13 tradesā¦with only 4 lossesā¦
Now only a few trades from my next target of 30%ā¦
ā¦and strong statistics to support its Long Term Sustainabilityā¦
Latest trade coming from AUD JPYā¦
ā¦based on accurate forecast of movement within Consolidationā¦
Checkout the video below of this resultā¦
Sometimes you have to take a break and reassess and use/create a new strategy.
Whatever you doā¦it CAN be done.
Check out my threads to get some ideas and ask me any questions about my approach.
Duane
DRFXTRADING
If you have been losing in forex trading for many years, you should quit it. Not everyone can overcome the obstacles. But how on earth is there a $10000 annual loss bill. You over-invested in your account or the broker is misguiding you.
Forex trading usually takes time to master. You will face many failures along the way. Donāt be disappointed by them. But if you are not satisfied with them, you can consult fello traders and analyze the successful ones. You may need to change your trading strategy.
Many of the traders in the forex didnāt change the strategies after too much losing. You should have to change the strategy if you donāt want to lose again. A good strategy is very important in the success of every trader. If you had the best strategy than you canāt lose.
Many traders loses on the forex market because they trade on the same strategy in which they lose. They must have to change their strategy, change their plans, change their way of trading and also they must have to control their emotions. They can do so only when they have a full knowledge about the current situation and also about the market.
Again try to reform your trading skills with the demos. Try a short term trading strategy with smaller amount of investment with an objective of earning smaller to moderate profit. And try to evaluate the effectiveness of the trading strategy with the demo trading account first.
If you find yourself losing on the forex market for years than you should have to change your strategy and plans. You also have to do some research on your previous trade and try to figure out the mistakes you did on those years and try to avoid these mistakes in the future.
Agree with this. Just like life, markets too are all about survival of the fittest. You gotta keep evolving and moving in tandem with the markets and be more perceptive
Loosing for years shows your lack of learning and experience of trading that is required to make profit. You will go on loosing until you not learn how to save your amount form risk effects. Here you need to survive forex trading market will go on many other trader will work her. Only those will successful that are doing according to market moods.
You must have some strategy if you are here to do some trade for earning the profit from your investments. If you suffers from loss again and again than you should have to do some research on your trading career and to figure out on which stage you are doing mistake. After that donāt do that kind of mistake in the future.
If you are not profitable just trade demo, nano and micro until you are ready.
Than raise your stacks gradually. If a losing period comes step down.
There is no reason to trade big until you are not profitable at least you want to lose money or gamble.
Unfortunately everybody can easily think they can make money. But most canāt. Show yourself you have a winning edge and that you can stick to the plan before trading real money.
There is no reason to hurry up except you like to gamble or lose money.
Just my 2 cents.