As mentioned in the following article, 90% of people are destined to lose in Forex. However, it is also true that there are people who have been doing it for over 10 years and still cannot win at Forex. If you have not been able to win for 10 years, it is likely that most people have problems with their mental state rather than their technical skills.
I haven’t won in FX for 10 years
Basically, it is not easy to win at FX. That is why there is no need to be pessimistic if you have not won for 10 years. In reality, even if you are an experienced trader, it takes more than a few years to become successful. Therefore, it can be said that it is counterproductive to be pessimistic just because it has taken more than that. People who have not been able to win for 10 years should consider this a turning point. If you look at information for reference and do a large number of trades but still do not see any good results, it may be that your starting point is poor. Think before you start.
Why can’t we win in 10 years?
As explained above, it is not so strange that you cannot win in FX for more than 10 years. However, not taking any measures just because you have not won for more than 10 years is just stopping your thinking. If you are not winning, you need to first reflect on why you are not winning in the first place. Nothing will change if you just complain about not winning without changing anything. Traders who are evaluated as references will take the chance as soon as they judge the environment. Thinking about losing next time or later will always be a factor in losing.
Cause and remedy
After analyzing, you should be able to find some kind of cause. It is important to start taking concrete measures to address that cause starting tomorrow. If you don’t take action, you will not be able to achieve 100% results. Let’s leave the abstract theory at that and introduce some common cases of why people are not winning. Nowadays, studying is essential to avoid losses in market products such as stocks and FX. The key is to make profits by utilizing your high level of knowledge. You cannot be at the top from the start. Don’t take on too many unrealized losses and eliminate the possibility of big risks.
Don’t take big losses
The worst thing you can do when you’re not winning is to take big losses. From my experience, even if you’re rich, if you take a big loss that you can’t recover from, you’ll lose motivation. There are many people who can’t win even after 5 or 10 years. In that case, you should keep going until you can win with a small amount of money. Set it so that you don’t take as many losses as possible. Companies that are ranked high also provide analysis tools for free. We are in an age where you can trade even through apps. Make good use of them.
Reasons and countermeasures that can not win in Forex for 10 years
Here are some common cases of people who have not been able to win in FX for 10 years. I have met several people who have not been able to win for a long time, and I have found the following common points. In foreign exchange, it is important to operate a lot and practice according to the situation. Drop some amount, and of course, to increase it, look at the current trend of price movements from a long-term perspective. One of the tips for making money is to determine the overall direction. Use tools to manage and detect the trend situation. And when entering a position in a currency pair, technical analysis is necessary. Even if you have to pay a fee, spend money when it’s time to make a move.
Get distracted
Those who are distracted without a set method will not win. No matter how many you have, it will definitely end. If you find a method that catches your eye, you will get distracted and end up with a shallow method. It is better to start to a certain extent and stick to a fixed method until you can win normally. If you move your method here and there without being able to recognize whether the market is going up or down in a fluctuating market, time will pass without you being able to do anything. Stick to a simple method without changing it until you get used to it. If you put in a year of effort, you will be able to make a proper profit. You can learn and earn money by buying and selling and be successful.
Use difficult stocks
Many people lose a lot of money when betting on stocks such as the pound. It’s fine if it’s the dollar/yen or euro/dollar. The pound has high liquidity and there are inevitably many losses. The price movement, flow, and timing of settlement should be as simple as possible. After that, try various things after you understand the details of the trading standards, mechanisms, and meaning of price movements. The important thing is to protect your assets. It is the foundation of business and a way to make a profit with your service. If you feel a little unsure about how to do it, keep working on it little by little and continue testing until it becomes stable.
self taught trade
Those who have not been able to win in Forex are trading in their own way, and often do not analyze or look back. Surprisingly, there have been cases where even if you try to trade while thinking that this trading method is absolutely unbeatable, you can’t win easily and only time has passed. In this case, it is recommended that you look at the trading method of a skilled trader from a third-party perspective, as mirror trading is also acceptable. The FX company has a mirror trade function, so let’s participate.
gambling
Among those who have not been able to win in FX for a long time, there are gambling tendencies. You can double, triple, and 10 times your money at once, but somehow you messed up and you kept throwing all your money in one trade, and in the end, you weren’t making any money at all. There is a case that has been born. In this case, you will get immediate results if you manage your money well. Let’s drop the lot and cut the loss at 1% or 2% of the total funds.
don’t analyze
In fact, exchange rates change over time. However, there are people who fight with the same trading method at any time and cannot win. It’s just doing the same thing over and over again with no progress. Unfortunately FX requires learning. Why is the loss continuing when the loss is in the middle of the day? If you can’t analyze and take improvement measures, it’s hard to keep winning.
can’t control emotions
Some traders who haven’t been able to win in Forex for more than 10 years still can’t control their emotions. When you’re winning, you get excited and make a big mistake, and when you’re losing, you’re too depressed to trade. If you can’t control your emotions well after doing it for more than 10 years, make a pre-order, set the limit price and stop price in advance, and leave it alone and don’t look at the chart. Then you can control your emotions. I think the reason why I can’t control my emotions is because I’m looking at charts in real time.
Everyone has their own reasons for not winning
Even if you say that there are people who have not been winning at FX for a long time, it does not necessarily mean that everyone cannot win under the same conditions. The reasons vary from person to person. There are many different types of people. Some people get angry easily, some cry easily, and some get carried away easily, so the way you deal with them depends on the person. The important thing is to start by realizing what mistakes you have made that are causing you to hit a wall. In order to make money, the basic idea is to understand price movements and place buys and sells at the same time. Let’s get rid of our bad habits now and start predicting the stocks we are targeting.
Money Management
Make sure you manage your money well. Even if the leverage is high, I would keep my funds low and set the loss to 1% of the margin. It should be appropriate for your funds. To be honest, a bad pattern is putting in too many lots and ending up with a single loss. You will have to quit. Nowadays, you should be able to place orders with limit orders, so log in and try it. Investors can be settled with the exact amount they specified with just one click, without having to look at the end.
Don’t look at the screen
The pattern of losing in investment is still losing because you are swayed by the short-term price movements. From now on, whether it goes up or down, if you keep losing mentally, just place a limit order and don’t look at the screen. If you specify the settlement amount for each buy and sell, it will do the rest automatically. Your feelings will calm down overall and you will move in a positive direction. Don’t do anything wasteful in life.
XM is recommended
XM was originally known as an FX company with spreads that were too wide. However, this was only recently. Now, an account type called the KIWAMI account has been introduced. The spreads are very narrow and very suitable for trading. Therefore, this account type is highly recommended. In particular, it is recommended for those who trade with pounds, as the spreads are extremely narrow. In really short-term day trading, psychology has a strong influence in the financial market. This depends on your style, but we recommend that you carefully consider the time period and start with a small amount. Be sure to check the economic indicators thoroughly in the system.
| KIWAMI | Standard | Zero | |
| USDJPY | 0.7pips | 1.6pips | 1.1pips |
| EURUSD | 0.7pips | 1.7pips | 1.1pips |
| GBPUSD | 0.7pips | 2.1pips | 1.2pips |
| AUDUSD | 0.9pips | 1.8pips | 1.4pips |
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