The main and most important reasons are never mentioned in the hundreds of threads on this site asking the same tired old question !
The fact of the matter is that the ODDS are stacked against you - exactly the same as in any Casino or Bookmanker
Yet every time the question is asked we get the same tired old “explanations” as above - seeking to blame the victim !
on a series of trades you have to win a lot more than you lose just to break even !
If you take a look at the mechanics of it you will find that for a large movement like 100 pips you stand to lose say 106 pips or to gain 100 pips on any one bet
On a smaller bet like a day-trade 20 pip bet - you stand to lose say 26 pips just to gain 20 pips !
The smaller the movement, the bigger the odds that you will lose.and proportionately the bigger the loss!