Beginner traders are more dreaming than their actions. They want to make high amount of profit in less time. This practice is a big mistake can be dangerous . They are in hurry do not want to waste their time in learning and practice. They do not know how much valuable this practice will be for them in real trading.
Yes, controlling emotion is a big challenge, this is required high intention to do, how to keep the discipline to trading rules maybe like a big challenge especially beginners that are always curious and want to try the new trading strategy.
The worst thing a trader can do is to trust their money to the total scam.
In spite of the fact that forex market is becoming more and more regulated, there is still lots of scam here and not all of the traders are able to understand that they should avoid depositing their money to such brokers. In this situation you'll definetely lose irrespectively of your luck and skils and knowledge.
Choosing a broker is one of the most important tasks which a trader faces in the beginning of their trading jorney. THat is why I strongly recommend to pay your attention to the history of operation of the broker and official regulation.
Included this reason why many traders get fail in forex trading, usually novice trader they too much eager and want make money after reading forex promising business, but when directly face the real condition, they will feel different
Yes, that's my style I tried forex trading four years ago, and it was such a disaster! It seems so intuitive and straightforward, and it blindsided me. I was so sure that I got a hang of it, and I even was successful at first. But, I quickly realized that my success was pure luck... Anyway, I quit forex after my failure, and recently I made a decision to try it again. But this time, I take time and do my research.
Yes, the golden rules of investing money in high-risk business included forex investment, spending money that affords to lose, avoiding borrowing money to invest in forex because will double stress when fail and losing all money.