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Ross Edwards

Why traders fail to succed when they start new?

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New traders mainly fails to succed due lack of knowledge and experience. They also do not have practice in demo trading. Many new traders are unaware of market survey. They do not fill up the defeciency or gap in market. Always fill the gaps to succed. 

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The answer to this question is very easy. Because they are new to the market. They are not familiar with the market's environment. People say for a reason that 'Experience Matters'. I hope that the young traders will not be discouraged away from the losses they face.

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There are many reasons for fails and money losses in case of Forex. The main ones among them are:

- improper risk management (you need to know how to use automatic take-profit and stop-loss mechanisms, and to implement them properly in accordance with the market volatility)

- unrealistic expectations (many people expect to become rich fast with forex and this goal can be achieved only with patient and long work, also many other ones simply have never traded in any financial markets before)

- wrong broker choice (the professional one will be a basis for your successful trading, it should also be totally reliable and safe, that's why experienced traders recommend to choose them only from regulatory agencies lists and other checked resources https://fx-list.com/cfd-forex-brokers )

- lack of adaptation to the market conditions (you need to monitor the market constantly and catch 'right' moments for making a good deal, also use various trading strategies, not only the one among others because it's can't be always effective)

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because of that don't forget to always do an evaluation, this is needed by traders to be able to become more maximal in improving existing trading skills and can become more maximal in generating profit that is in line with expectations.
 

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It is only natural to face losses in the start as a person is alien to the conditions and environment of forex trading. But those losses will help them grow as mature traders. They need to not worry about this. They just need to learn as much as they can while staying in the market.

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