e_abrams

I think people don't start keeping a journal unless they understand that.

Indeed. That's why it is advisable to keep a forex journal of all one's trades.

There are two main factors - trader ignorance and lack of experience and, according to financial regulator statistics, shady, unethical practices by brokers that lead to losses for traders.

Indeed. In my experience, the vast majority of people lose their first account.

I think it is prudent to learn to control one's emotions, rather than suppress them. One can suppress them only so much before an inevitable outburst.

I think the legitimate companies make money even if you do succeed.

I think in most jobs making decisions based on one's emotional response leads to bad outcomes.

Indeed. If you don't have experience, don't invest a whole lot of money into your account.

I think people do that subconsciously even if no one explained to them that they should.

High leverage is dangerous and leads to a lot of losses, I think.

No, forex is not gambling, but it is still quite difficult and people lose a lot of money, either because they don't know how to trade or because they got scammed, which happens often, unfortunately.

Where are they registered?

What license do they have?

If it was clear to everyone I don't think so many traders would be losing money.

One needs a lot of experience and discipline as well.

The unfortunate truth is that most beginners lose money. It happens because they are still ignorant and inexperienced and it happens because they often get scammed by bucketshop brokers. It's a huge problem in the industry.

That seems pretty interesting, I will check it out.

I think maintaining a trading journal helps greatly with that problem.

I wish I could say the same. I still make mistakes under the influence of emotions.

The main reason why people prefer a regulated broker is to avoid being scammed. Scam companies are ubiquitous in this industry, unfortunately, the best way to avoid them is to work with a company licensed and overseen by a reputable government regulator.

The video in question does not seem to exist anymore.

Indeed. Strive to learn from your mistakes, not to repeat them all the time.

True. Technical analysis is a very useful tool that should never be underestimated, I think.

Which two components? Experience and training?

Where are they regulated? I have not heard of them before.