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Thread: Unealistic Expectations

  1. #1
    Trader ara's Avatar
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    Unealistic Expectations

    UNREALISTIC EXPECTATIONS

    Hello beginners..., this is very important for you in starting your first year in forex business. Yes, this is about expectations, I'm sure many of you (beginners) who have high expectations in starting this business, of course, forex trading promises big profits in a short time. But, you have to think many times about this. Maybe you see a lot of traders who show off big profits in a short time. Wait a minute....., don't be easy to believe with what you see, because such properties are typical of the newbies. Will a professional trader be proud and show off their big profits? Certainly not. Just try to imagine, you will be happy and proud when you get first profit and first withdrawal in forex business. Yes, of course, but when you've often get a profit and often withdrawal from forex trading, then you feel it is commonplace, not too special. That's why someone who is proud and show off his big profits means that he is a newbies , because pro traders will not do that.

    So as a beginner, you don't have too much expectations, just do it casually, learn with ease, make a lot of experience. That's what you should do. Success is a matter of time. You have to be patient in going through this long process in this business. Don't expect instant success. That is an overly high expectation.

    Let we see this table.



    In the image above, you can change your $ 10 to $ 725,706 in just 20 trades. I think many beginners have this kind of trading plan, or at least you've found traders who have this kind of plan. Okay it does not matter, it is your right. But how many times have you failed to do so? Then, if you still do it again and again, and failed again and again. So please, if you can't laugh at yourself, call me... I'll laugh at you. Sometimes we creates our heartbreaks through high expectations. Okay, maybe you will only lost $10 in each round. Then how many rounds will you do? "Waste your money and you are only out of money, but waste your time and you've lost a part of your life".

    When I start a forex business with excessive expectations and misinterpret success. I created a compound table in Excel, which I consider or say as "Money Management". Busy counting profit (never thought about loss). In accordance with the table, I count for profit of 1% per day and never loss (win 100%). Opening 0.1 lots of $ 500 balances, unknowingly risk lurking. Getting $ 6 only / day x 20 days is $ 120 profit. Amazing, can make a profit almost 25% per month. There is no loss scenario in my trading plan, and never thought about loss because trading is DEFINITELY profit. $ 500 in capital is rolled up and the result is within 1 year become $ 5000. What a wonderful world it is and soar this hope.

    Reality? You already know the answer.

    Sorry, remove all compound tables like that. Beautiful plans and profit calculations are not unimportant. But first prioritize the calculation if the loss or if it turns out not as expected. Why? Because online Forex trading is a margin-based derivative product (leverage) like a double-edged sword. On the one hand has more value because the required capital funds are much smaller than the real sector business or physical trading. On the other hand has a weakness can make our funds run out to 0 in a relatively short time. Endless capital or investment value will not happen in physical Forex trading (for example).

    Thus, it should first consider how the strategy for the exhaustion of funds will never happen. Prioritize how to minimize the possibility of capital to 0, then think of profit. Do not turn around. That is the essence of Money Management around Forex trading.

    This kind of trading plan table will make the beginner thinking about 2 things as his mindset :

    1. Mindset : "Too much expectation on forex trading"

    If you think that forex trading is the only way to achieve success in life, usually this will be a thorn in the hay that will lead to failure in trading. It becomes wrong if a trader really hopes to get financial success from the results of trading. Why do I think so? Because I think, when we embedding this mindset. then we tend to be forced to get profit on every transactions.

    2. Mindset '' I must get profit everyday ''

    Such mindset always arise in beginner trader. Beginner traders usually always expect maximum trading results from every position he has put on the market regardless of the fact that it is very difficult to expect a definite result of every trading we do. That's because in trading, even if you have the most powerful trading system, will not be sure to generate 100% profit. Sometimes you will occasionally get a loss and occasionally get a profit.

    You will only know the end result of your trading after you have traded in certain period of time. You should always focus on your trading system and you can evaluate it after several periods.

    Too high expectation on forex trading will lead you doing something fatal in your life, for example you quit your main job. You don't have to get out of a job or business that you are working on and switch total to forex trading with big profit expectations every month. The way it is less wise.

    Another things you do as the effect of excessive expectation is doing over-trade and apply over-leverage to gain big profits in a short period of time, without applying appropriate and planned risk management. "Simple things become complicated when you expect too much".

    Tips for you, try to pay attention to the following points:

    - Use your free funds to trade.

    Free funds mean that funds are not for the cost of daily living and you are willing if the fund is forfeited. What if no free funds? Yes, try trading on demo account first until have funds that really free. Never try trading by using funds that cause you emotional in trading. You should always assume that any amount of funds in your trading account will be shrinking, even sold out altogether.

    - Make sure that you can sleep soundly every day.

    Still related to free funds, but this one is more at risk that we dare to bear in every trading position. If you can't sleep well because of the amount of loss you may have, then you need to review your risk management and your suitable trading plan, according to the amount of funds in your trading account. Apply a realistic risk reward ratio, don't over-leverage and over-trade.

    - Know that every trading position is independent.

    Every trading position that we opened is independent of the previous position. Many traders when opening new positions are still affected by the nuances of previous trading positions. Euphoria or excessive confidence is often experienced if it has gained a large profit or profit in a row, as well as feelings of "revenge" often appear after considerable loss. This is carried in the way open or closing positions that repeat the same way when the profit in the previous position, or opposite to how open or closing in the previous position. This is wrong.

    If we know in fact that every new position we open is a new 'zero point', then we will not be overly emotional and think objectively. Open New positions should use logical reasoning, not merely avenge the previous defeat.

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    Last edited by ara; 07-31-2018 at 09:24 PM. Reason: add the tittle on page

  2. #11
    Trader Killer_Queen's Avatar
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    Quote Originally Posted by ara View Post
    Well, I also laughed in my heart when I saw someone in the social media group sharing those plan. I don't want to give a lot of comments to him or those who do crazy things like this, I just laugh at myself because I also did this crazy things in the past, I tried to do this crazy thing many times until I was frustrated because I never reached the final target .
    that is the result of being unrealistic in this life, it makes no sense and funny if we think about them slowly. my only worse expectation was to predict market news in random by only reading the data without reading the whole contents of the news. not so bad but really damaged my trading to stop out. well that is one of my bad thing i have done in my past so let us cheer each other and wish we can get better.

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  3. #12
    Trader layigold's Avatar
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    I really love your thread because you have been able to pinpoint the wrong mindset most traders have when it comes to drawing plan of what to earn in trading over some period of time . Their expectations are unreasonably too high because they never consider the fact that some months may even end up in loss. Most traders are guilty of this when their expectations are put on paper over what they hope to achieve within specified period of times .

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  4. #13
    Trader juniorpeters's Avatar
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    unrealistic expectation is when you try making millions of dollar within a very short space of time.trading the market and making profit is not easy and have never been easy so whatever you do you should take things slow and don't try getting rich quick because it will cost you more trading account and make you struggle very long as a trader so be realistic and set a goal you truly believe you can achieve.

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  5. #14
    Trader ara's Avatar
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    Quote Originally Posted by juniorpeters View Post
    unrealistic expectation is when you try making millions of dollar within a very short space of time.trading the market and making profit is not easy and have never been easy so whatever you do you should take things slow and don't try getting rich quick because it will cost you more trading account and make you struggle very long as a trader so be realistic and set a goal you truly believe you can achieve.
    THat's right,having expectations is not wrong, even it is good to boost our enthusiasm in learning and learn again to become a better trader day by day, but having unrealistic espectations is a boomerang for traders, this will trigger to do something as aggressive as written in the image that was attached by me in this thread, such a plan was very, very difficult and almost impossible.

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  6. #15
    Trader layigold's Avatar
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    Trading goals could be so beautiful like this on paper but when it comes to achieving it like that exactly as it shows on paper , there is a great problem because certain factors are always neglected when drawing such a goals. In the first place , it is not every month that a trader will record profit , some month may bring a trader to profits while others may bring him to break even or loss. Having a drawdown in trading is a reality that we cannot run away from but I have never seen that being factored in when drawing trading goals

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  7. #16
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    These unrealistic expectations are like cankerworms eating deeply the traders mind and making them see themselves become rich even without having the very desired knowledge about this forex market. With this high level of expectations comes quick frustrations when they realize that the market is not dancing to their tune of huge money. I think traders must seek knowledge and avoid any expectations that won't go well in our project of trade.

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  8. #17
    Trader juniorpeters's Avatar
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    making a consistent profit is really a very difficult task to achieve and trying to get that done without having a good knowledge about the market and discipline will make it more difficult.most traders expect so much from the market using a very small fund,even if the goal is targeted to be achieved in the next ten years,traders are naturally greedy at some point they will want to get it done quickly,only few can bring this to reality.

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  9. #18
    Trader Sixteen's Avatar
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    Quote Originally Posted by Tonycee View Post
    These unrealistic expectations are like cankerworms eating deeply the traders mind and making them see themselves become rich even without having the very desired knowledge about this forex market. With this high level of expectations comes quick frustrations when they realize that the market is not dancing to their tune of huge money. I think traders must seek knowledge and avoid any expectations that won't go well in our project of trade.
    You said it all and for the very fact that traders will always be looking to hit it big in forex, the expectations always come as a huge dream to achieve. I believe it's good to dream big but some expectations can be unimaginable and that's the kind of success we expect to see in forex quicky. If we are not making plans to lean on how to manage our system and minimize loss, then we should manage our decision and see risk can be well managed.

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  10. #19
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    Quote Originally Posted by ara View Post
    THat's right,having expectations is not wrong, even it is good to boost our enthusiasm in learning and learn again to become a better trader day by day, but having unrealistic espectations is a boomerang for traders, this will trigger to do something as aggressive as written in the image that was attached by me in this thread, such a plan was very, very difficult and almost impossible.
    I learned the hard way, I used to be among those traders that thinks that we can make really huge amount of money and all that. But then, I kept on hoping for monthly targets and earnings in the market, which never happened but only got me losses. Therefore I think, the best thing I did was to stop expecting money and then started looking for good opportunities as well.

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  11. #20
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    I have always known that it is a wrong move when a trader think about making money every month from the market. Because that will not work that way, the best way a trader can trade and then earn money from the market is to basically have the good trading skills and then they should understand that, though they might have one of the best trading strategy, but sometimes they will not earn a dime.

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