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Lack of forex training and education.

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The reasons most traders lose money is lack of proper risk management plan.

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Lack of proper forex trading knowledge and discipline are the main reasons.

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They really dont know what to do.

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no plan, no discipline, don't treat trading like a business, overleverage the account

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many reasons may cause traders losing money, like others said..such as knowledge, strategy, discipline, mental mind. but for me the most important thing is having the right mentor. in any area of life we should have mentor.

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Strategy. Knowledge is power. The sooner one realizes the who, what, where, when, why and how of the Foreign Exchange, the sooner your realize your opportunities to trade profitably are diminished to short time frames.

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Trading psychology is the reason-- greed (too aggressive) and fear (cutting loss on positions too quickly before giving the trade the chance to develop).