"Ten Ways to Fail in Forex Trading"

1. Reckless Overconfidence
Traders often overestimate their rationality, believing they possess superior information and skills. They attribute success to ability while underestimating luck’s role—a bias linked to ego. Markets hinge on information and forecasting, yet the latter is notoriously difficult.

Some enter markets without training or basic knowledge. Occasional wins may occur, but consistent trading inevitably erodes capital.

2. Counter-Trend Trading
The riskiest move in trending markets is fighting the trend—buying tops or selling bottoms. Many double down on losing positions, hoping for reversals. New traders尤其 gamble at limit-up/down points, a dangerous strategy that can trigger margin calls during extended trends.

Wall Street adage: "Bulls and bears profit, but pigs get slaughtered."

3. Overleveraging (All-In Bets)
Full-position trading leaves no room for error. Even a 99% success rate can be wiped out by one black swan event—a fate even legendary trader Gann couldn’t escape.

4. No Stop-Loss
Avoiding stops to "prevent losses" accelerates account blowups. Always set stops, especially during consolidation breakouts where trend reversals are lethal.

5. Top/Bottom Fishing
Assuming mastery over market turns is delusional. Short-term trading requires aligning with higher-timeframe trends, not subjective predictions.

6. Greed & Fear
Greed is viable only at optimal moments—never at peaks or during unstable declines. When greed backfires, fear impairs judgment. Overcoming fear is key. Remember: "Be fearful when others are greedy, and greedy when others are fearful."

7. Impatience
Market volatility breeds impulsive decisions. Anxiety distorts technical execution and spawns irreversible mistakes, often via poor entry points.

8. Lack of Discipline
Expecting instant profits leads to abandoning plans at minor setbacks. Patience is tested when markets move against positions—stick to strategies, avoid chasing "greener pastures."

9. FOMO (No Prioritization)
Countless opportunities exist, but resources are finite. Prioritize high-conviction setups by sacrificing marginal trades.

10. Overtrading
Trading non-stop leaves no room for analysis. Daytime gains often vanish overnight. Post-profit breaks are essential for sustained success.