There are a lot of people out there that go and try trading forex only to fail. The reason is simply that you're doing a bad job. You're doing the wrong moves and if you're doing the wrong moves you're going to suck big time.
Number one reason you fail: You haven't taken the time to really learn. You spent a few days pretending to buy and trade to see what happens. You thought you did pretty good, but when you finally put your own money in the game you lost, big time. It takes a lot of time to learn how to be good at this, so invest the necessary time and practice before investing your pay check.
Number two reason you fail: You're greedy. You're just too involved in making big money. You try to make moves that will result in big money and what always happens? You get burned. Slow down, be smart and get rich slowly.
Number three reason you fail: Over dependent on a specific indicator. This has to be about the biggest mistake. People see an indicator and the currency goes up after that. These people associate this indicator means currency is going up. They never took a second of their time to understand the market, they just make future trades on this one indicator. These people might get away with it once, maybe even twice, but they all get burned big time.
Number four reason you fail: You don't use automation software. New players in this game try to do it all themselves. They can't get through all the information and charts. They just can't process it all, let alone make a competent trade. Get some software like forex Killer and let it process the information, so you can stick to making trades.
These are the exact reasons you fail at trading forex.
