Just just most traders lose money because of lack of necessary skills and experience. People don't care about following any rules. They open a lot trades in a day. No discipline, no risk management, no control over mind.

Why do Newbies Lose?

Money management depends on trading style and strategy. You have to figure out how much you can loss in a trade. Don't do anything that makes you fearful and greedy. Be practical and realistic.

Need Risk money management advice - I have 85-80% winning Rate!

Yes I use stop loss as I do short term trading. Usually I don't allow my trade to roll overnight. That's why I need to use stop loss. Otherwise If I fall against the market, it could wipe out my account.

Do you use stoploss?

No only technical knowledge is not sufficient. It is the combination of strategy, discipline, mind set, emotion control, money management and risk management. We need all of these. With an average strategy and all other qualities a person can make ...

Is technical analysis sufficient ?

Yes I agree with you. Stop loss is not a problem. Placing stop loss in the right area is the problem. Many place SL by counting pips not by seeing levels. Again it depends on the type of trading style.

Trading without stop loss

Yeah as the proverb says in gambling that at the end house wins. If anyone gambles in forex or stock market, he might get some random profits but at the end he will lose all the money.

Trading like a Casino

Yes demo is appropriate for new traders. And at the same time demo account needs to use for learning purpose not to do random trades. They should use to find out how any strategy works.

Got advice for a rookie?

Yes greed is the cause of destruction. It leads to over trading and unnecessary trading. Profit target should be logical and also should match with skills. If I have ability to get 50 pips, my expectations should not more than that.

Forex, Greed, and Risk

Yes taking decision out emotion is what most of the traders do. To get rid of it we need to have enough knowledge and skills. We also need to be discipline in our trading.

Things a trader should never do

I don't think there is exact data. But for the long term olny 5% to 10% people can consistent profit over the years. Rest are losers or occasionally make some money and then lose it.

90% of traders lose money! True or False?

It depends on how did you use demo. To me demo is for testing your strategy. Finding what is your winning percentage and risk reward ratio. Even if you test your strategy in demo, in live you will face emotional barriers. So it's different but ...

Demo vs Live Account

EA always needs to tweak according to market situation. It doesn't work for long as market is constantly changing it's price movement pattern. Also you need to use the EA effectively to get good results.

Is there an EA that works?

Yes you are right. Lack of knowledge and experience is one of reasons most people lose here. Another reason is trading psychology. People can't control themselves opening trades. As a result they open a lot of unnecessary trades.

reasons why traders lose

If a person has enough money to lose he can start trading with demo. He has to test his strategy on live to find out winning percentage of his strategy and risk reward ratio.

Practice

I would suggest to newbies that trading requires specific knowledge and skills. Only if you are willing to achieve that you are welcome. To get skills you have to study a lot of books and do research live market to understand how price works.

Trading Tips

Making money in forex market is possible only by extremely discipline people. You need a good strategy (average will be ok) and a mind a use that strategy effectively. You need full control over your mind.

Is it possible to earn money from trade?

For 100 pips trade you may need to hold a trade for few days. In trending market it's more possible to have 100 pips. But in ranging market it's quite difficult to find a 100 pip trade. You need to consider market context and support/resistance ...

More than 100 pips

Don't trade live with huge money until you know what you are doing. Know your stuff very well. Be enough skilled. There is no short cut. It takes time to learn the art of trading. Don't have unrealistic expectation.

Got advice for a rookie?

Ideal % in terms of monthly retunrs should vary person to person. Everyone has a different level of skills. My ideal % would be how much I can get with the skills I have. Consistency is important then certain fixed percentage per month.

Realistic Monthly Trading Profit?

Main problem is with discipline and using the analysis properly. Most Traders get desperate to open trades. They do not wait for set up to come. This fear of losing opportunity makes them vulnerable to the market. Suppose I have a system that give 3 ...

Forex, Greed, and Risk