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    Registered user 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. #291
    Registered user Senorita's Avatar
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    First my expectation in forex is to become a rich forex lady. Am not giving up that's why am doing everything important to keep learning from my experience and knowing what I should do for myself in the best time. If a trader can plan on how this business works they can have the very strong opportunity to make good profits from the market. For some expectations that are impossible I wonder why some traders would have hope for such to happen.

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    Registered user Sixteen's Avatar
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    Quote Originally Posted by Ulthred View Post
    Some expect that once they start real trading they can turn into a millionaire within a space of one month. We can see such expectations are unrealistic and can't hold for us.
    Whoever is having such expectations should be ready to be frustrated out of this market because forex do not work on such way. So many traders are so greedy that they expect to easily make profits here which in turn brings huge failure in no time. Unrealistic expectations can really be a tough one here and we should avoid expecting so much and easily loosing up our trade. We should have a plan to succeed and we should realize why we should build a strong trade that will sure help us reach a full potential of earning.

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  4. #293
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    Quote Originally Posted by Sixteen View Post
    Whoever is having such expectations should be ready to be frustrated out of this market because forex do not work on such way. So many traders are so greedy that they expect to easily make profits here which in turn brings huge failure in no time.
    We should avoid such unrealistic expectations that will drive us to take high risks and undergo all the stress and frustration. We can put the sl and tp in every trade and this will give us some consistency in our results but for all these we need strong mindset. These things are not that easy, it took me a long time to start following the rules and behave sensible during trading.

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    Registered user Silhouette's Avatar
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    Quote Originally Posted by AmitChallenger View Post
    We should avoid such unrealistic expectations that will drive us to take high risks and undergo all the stress and frustration. We can put the sl and tp in every trade and this will give us some consistency in our results but for all these we need strong mindset. These things are not that easy, it took me a long time to start following the rules and behave sensible during trading.
    Expecting market to give us greater good with less efforts is definitely an expression of forex traders who doesn't really understand what's the point of making a quality trading. When we realize we're having small deposit and small experience, we must stay patience to wait for the opportunity and earn small too because our profits is depending on our experience. Having unrealistic expectation will only drive us to lose more.

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    rules made to be followed, not to be broken

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    Registered user Toyen's Avatar
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    Quote Originally Posted by Sixteen View Post
    Whoever is having such expectations should be ready to be frustrated out of this market because forex do not work on such way. So many traders are so greedy that they expect to easily make profits here which in turn brings huge failure in no time. Unrealistic expectations can really be a tough one here and we should avoid expecting so much and easily loosing up our trade. We should have a plan to succeed and we should realize why we should build a strong trade that will sure help us reach a full potential of earning.
    It is not good to be unrealistic in your expectation as traders. The traders that are not realistic are the ones that will be calling the ambiguous figures as what they want to achieve, but they do not have the capability to achieve that. This is the market that can give us money when we trade it well, but no matter how good the trader could be, he will be failing if he is working with unrealistic trading plans.

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    Registered user Sixteen's Avatar
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    To be honest when I was new to this business the expectations was very high because I think this would be the most easiest way to make money in this world. I was like I have found the secret to wealth until experience taught me that nothing is easy on life. The expectations I have about forex have initially been high but now I know better that patience with hardwork is needed and if we can focus to learn and do what it takes to build our knowledge, we will have the possible chance to make good profits which we can look forward to have.

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    Registered user ola4real's Avatar
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    Quote Originally Posted by Toyen View Post
    It is not good to be unrealistic in your expectation as traders. The traders that are not realistic are the ones that will be calling the ambiguous figures as what they want to achieve, but they do not have the capability to achieve that. This is the market that can give us money when we trade it well, but no matter how good the trader could be, he will be failing if he is working with unrealistic trading plans.
    Yes, we have to be realistic as traders, this is what i know that will not let forex traders to be losing with bad mindsets. As little as our mindset could be viewed by forex traders, it is so powerful to either appraise a trader into success, or downgrade the work of the traders into defeats no matter what the forex traders know. This is why i do not joke with my mindset, i let it be the such that is realistic according to what i am using it to do.

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    Quote Originally Posted by ola4real View Post
    Yes, we have to be realistic as traders, this is what i know that will not let forex traders to be losing with bad mindsets.
    if we understand this thing we can solve many issues, here we all know what is good for us and what is bad for us but still we made mistakes, when we know if we do not accept reality in end we will lose and still if we make some wrong orders we cannot survive for long, so be patient and never try to trade without proper learning, be a trader and accept reality means accept some loss and move with plans and targets

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    Registered user Sascha's Avatar
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    Quote Originally Posted by naeem555 View Post
    if we understand this thing we can solve many issues, here we all know what is good for us and what is bad for us but still we made mistakes, when we know if we do not accept reality in end we will lose and still if we make some wrong orders we cannot survive for long, so be patient and never try to trade without proper learning, be a trader and accept reality means accept some loss and move with plans and targets
    having realistic targets to achieve is actually a mindset of traders and this what they must have inside their psychology. those who's still troubling themselves with this, maybe they can't accept the fact that forex market is uncertain yet they keep doing less efforts to analyze market. it's impossible to get our goals achieved with few efforts to do.

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    We can have good expectations regarding this market but we should be well careful because some expectations are unrealistic and pitting this mentality into your trading can become a big problem for you. It's high time you decide the better way to follow this market and don't expect to have it easy here. Your winning in this business is possible if you will invest your time to learn and know what you should do right here. I try to know what's possible with forex and never let my expectations pass it.

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