Search
GBP
ENG
Trading Software
    Menu Close
    Back to all

    Impatient Forex Traders Will Always Lose

    The biggest factor why traders lose money is impatience and greed, I have noticed that many new traders must have trades open, they want to see them running and making money, they feel that if no trades are open they are losing money, the reality is quite the opposite.

     

    impatient Forex trader

     

    New Manual Traders Love The Thrill Risk Taking

     

    Most new traders who start out treat it like a game, they must have positions open so that they can get their fix of emotions from losing to winning, their emotions get negative when they lose and they get caught in a vortex of self-destruction.

     

    Traders Who Use Automated Systems

     

    I have found that most new traders who use an automated trading system are disappointed if the robot does not open many trades per day, so they can also watch the trades and get their adrenaline going, having many trades open with a technical trading strategy is doomed to failure. There are some trading strategies that are designed for many trades being open, but most systems run on technical analysis.

     Forex trading fears with ctrader

    A vast majority of automated trading robots use technical indicators together with support and resistance levels, this means there are periods of stagnation (no trading), this can be very frustrating to impatient and thrill-seeking traders and they enter a trade anyway, this will usually lose them money.

    Each position you open incurs a commision and spread fee.

    More trades = more risk

     

    The bottom line is that you should only enter a trade when you have a high chance of winning