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Why Are 97% of Traders Knocked Down in the Forex Market?
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Why will the vast majority of traders be kicked out of the forex market after trading for so long？ The essential reasons for this situation are located in the inconsistency between trading rules and logic and insufficient implementation, resulting in long-term, continuous trading errors. Mistakes commonly made by traders are presented as follows:To get more news about trading strategy, you can visit wikifx.com official website.
Chasing a surging market
Please dont buy in because of a surging market, dramatic changes in which are indicative of numerous traps. The rational move for this is to observe the market, wait for a transient fall, and seize the opportunity to buy in.
Chaotic logic of trading
The trading mentality and behaviour should be continuous. The fixed logic should be relied on amid conducting the opening or closing, calculating profit points, and determining the timing of market entry or exit, thus making the behavior highly certain. Yet, it is hard for many traders to remain cool-headed, and they are prone to errors when failing to trade logically.
Hesitation
It is understandable that some traders prefer to add positions while others tend to stop losses in the face of mistakes in their trading. The thing is, hesitation is devastating. Please dont pin your hope of tiding over adversity on adding positions when you need to stop losses.
As for staying in the market to trade as long as you can, it is essential for you to embark on rules and logic and strengthen implementation!
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