Are you one of those eager souls who dove headfirst into forex trading, only to find yourself floundering in a sea of lost trades? Trust me, you’re not alone! Many new traders expect a thrilling ride to riches, but the reality can be a tough wake-up call. Statistics reveal that only about 2% of novices actually make money in this high-stakes arena. So, what happens to the rest? Exploring the common pitfalls that lead fledgling traders to throw in the towel can shed light on this perplexing phenomenon. Through valuable insights garnered from discussions with experienced traders, I’ll break down the top five reasons newbies give up on forex trading. Spoiler alert: it often has more to do with their expectations than with the market itself. If you’re ready to navigate the choppy waters of forex, buckle up and let’s dive into these lessons together!

Like many high-performance endeavors, success in trading takes time, patience, and a lot of practice.
This is why not many newbies successfully trade currencies on their first try. In fact, popular trading discussions estimate that only 2% of newbie traders eventually make money.
So what makes it hard for beginners to stick to trading anyway?
I’ve learned of countless reasons after talking with fellow forex traders in my blogs and in the forums, but I think we can narrow them down into five:
1. They blew their trading account.
What’s the point of trading if there’s no account to trade?
One of the more common mistakes newbie traders make is that they wade deep into the trading pool without bothering to learn how they can avoid drowning in losses.