When Should A trader Quite Forex Trading?

[Alexander Hudson]

I know few traders, who are involved with this volatile market since 2017 but till now they are unable to make consistent money from this financial market! They are basically trying to earn money with a low trading skill (that’s my point of view actually)! What’s your suggestion guys?

 

[FXOpen Trader]

I know few traders, who are involved with this volatile market since 2017 but till now they are unable to make consistent money from this financial market! They are basically trying to earn money with a low trading skill (that’s my point of view actually)! What’s your suggestion guys?

If the losses that we are getting are on the lower side then we can try to increase our profit margins.

 

[Oscar Shumack]

I thing quitting Forex trading is like the job of a coward. Because there are millions of traders who are earning from Forex on a daily basis. So earning is possible from Forex, but I have to know how to earn. Traders are even incapable to spending a second to learn about the processes of earning from Forex.

 

[FXOpen Trader]

All decisions will depend on the trader itself, but quitting forex means will losing all opportunities in this business, here skills are matter to survive in the forex trading business, for some traders, they not quitting forex but only treat forex as a part-time business, because one advantage forex trading business is access market 24/5 days a week.

We will need to understand the importance of doing our trades according to a good trading based plan.

 

[David Marco]

Expert traders always trade in a single currency pair because analyzing all the pairs at a time in a body is really difficult for traders and traders can hardly forecast the market. For certain, traders should keep themselves away from volatile pairs because it invites harm for them.

 

[SaadBinToha]

Deficiency of experience makes a trader suffer in the long run. Experience and skill are like a gem that glistens trading career and most of the traders are bereft of the quality. But, it’s essential for a trader to be well learned, motivated and mentally-fit for trading. So start your trading journey a regulated broker so that you can enjoy all great facilities.

 

[Isotaach]

Imo, if you are consistently losing trades, you should quit, instead of revenge trading and typing to cover up losses. Better to start from the beginning. Go back to the demo and start from where you started.

 

[Paralipsis]

It depends. If you feel that your skills and expertise do not allow you to trade and you do not want to learn anymore, you are free to quit. However, if you are thinking about quitting forex trading due to failures and losses, then I would like to say it takes time to be profitable in the market. You shouldn't judge your trading career based on a few short-term losses or because you don't know enough about trading.

 

[Stichomythia]

If they are losing consecutive trades or over trading, they should quit trading for sometime. They can start again when they think they are ready.

 

[Substractor]

When a trader’s plan keeps failing, there must be something wrong with the scanning and analysis, which is why constant loss. If the trader doesn’t understand how to revise their plan and just trade for the sake of covering up their loss by trading more than necessary, they should take a break and come back with a fresh mind.

 

[mansuriabubakar7474]

Expert traders only ever trade in a single currency pair since it is extremely impossible for traders to analyse all the currency pairs at once in one body and traders seldom have any ability to forecast the market. Traders should definitely stay away from volatile pairs because doing so puts them at risk.

 

[FXOpen Trader]

Expert traders only ever trade in a single currency pair since it is extremely impossible for traders to analyse all the currency pairs at once in one body and traders seldom have any ability to forecast the market. Traders should definitely stay away from volatile pairs because doing so puts them at risk.

If we want to become Expert in trading we will need to use a Planned trading based system.

 

[Swissing]

I would say traders who encounter constant losses should take a break from trading instead of quitting. There is a high possibility that this break will help them to reflect upon their trading decisions and identify where they went wrong. They can start afresh once they gain enough knowledge and refine their skills with demo trading. Quitting should be your last resort and we must keep on trading with a tight grip on risk management.

 

[Mawkish]

Traders need a lot of time to be profitable in forex trading. Trading forex profitably requires you to keep knowledge and control a lot of factors. Also, it is necessary to be consistent and focused on one single strategy rather than switching between them frequently. Moreover, traders should trade one pair at a time and be careful about their risk management. I think they should give another try before quitting forex. Because although it is tough, once you catch a grip, it becomes consistently profitable.

 

[Bahiya Shinam]

You may know that, Forex is the largest global market where millions of traders from worldwide can trade. So, the markmet has a vast range of aspects to learn. Even though it’s a decentralized market, it is served by different traders

 

[Vermicious]

We are all here to make money. The beginning is obviously hard but if you can’t make money even after spending years in the market, I believe it would be best not to trade or take a break until you find a reason to keep trading.

 

[Monsoon]

I would say a trader should only quit if they see themselves repeating the same mistakes over and over again due to lack of emotional control. But this does not apply to beginners and inexperienced traders as they still have a lot to learn and a long way to go. But if you are someone who has been actively trading forex for years but still encounters huge losses due to emotional trading, then that’s not a good sign. You should consider taking a break and get back to trading when you are able to manage your emotions in a better way.

 

[Plexpe]

When things aren't going the way you want them to and it's getting difficult to keep going forward. If this is the case, you are free to stop trading forex.

 

[Interceptor]

When even after years of hard work and consistent efforts you don’t find positive results then you should quit trading. While trading can provide significant financial benefits and free up time to improve your quality of life, you should keep in mind that it is not a regular or guaranteed source of income.

 

[Eduardo Lucchese]

High security of funding is a highly expected facility provided by brokers. The securer a broker is, the more trustworthy it is among traders.