Why most traders quit trading after few months

Many traders start trading in the Forex market assuming it’s pretty easy to make money here. But in reality, it’s not easy to make money in the market. You have to face many ups and downs and thus many traders end up by quitting. The traders who quit are the ones who afraid to deal with the difficulties so if you want to become successful you must act smart in the trades. Gather as much knowledge as possible because without having proper knowledge you won’t be able to make profit from the trades.

Educate yourself about the market

Learning is the basic and key step of trading in the market, you can never stay in the long run if you have a lack of learning and understanding process. Learning is the only way you can know about all the terms and aspects of the market. So you should never stop learning if you want to become a profitable trader. New traders often stop learning just after a few days of starting trading and thus end up with a big loss and later quit trading. Even the pro traders never stop learning about the market as there is no end to learning about the market. So make sure you never avoid learning if you want to become successful in the market.

Those who have strong analytical ability can define the losses with logic. Those who don’t will blame the market. To clarify, consider the Brexit issue. Unless you have strong fundamental skills, you can’t define the reason behind the massive drop in GBP against most of its major rivals. So, education is a must for retail traders.

Practice leads to success

Practice is key for traders, so you should never stop practicing in the market. Traders often stop practicing when they find themselves winning in the trades but soon after they lose in the trade often and later end up by quitting. With practice, you can improve your trading methods, strategies, and skills and will be able to trade profitably. You can also rectify your trading mistakes by practicing so never avoid practicing if you want to become successful.

Once you become good at analyzing the price pattern, open a real trading account with one of the many markets and use a professional platform to find trade setups. Try to execute the orders with low risk and see if you can make a consistent profit. If not, start practicing again with the demo account.

Maintain a trading plan

Many traders place for the trades randomly in the market which also leads them to quit trading. Trading randomly can never help you to make profits in the trades instead of losing. So to avoid trading randomly you should regularly maintain a trading plan. A trading plan won’t allow you to trade randomly and it will also increase your chance of winning to a great extent. A trading plan will also help you to identify the best trades for you, that is, ones that will match your trading style.

Breaking the rules and trying to secure big gains leads to disaster. Control the thirst to win big trades and stick to your method. If required, change your trading method slightly and fix the bugs.

Conclusion

No matter how tough the situations you face in the market are, you should never quit trading. Quitting will never help you to reach your goals so try to stand up and deal with all the difficulties in a smart way. If you find yourself losing in the trades continuously, stop trading for a while and improve your trading methods and keep learning. Never stop learning about the market as the market keeps changing so you should change all your trading methods, strategies and skills according to the market. You can only bring changes to your trading methods if you keep learning and can understand the market properly.