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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. #21
    Trader Killer_Queen's Avatar
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    Quote Originally Posted by Makaveli View Post
    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.
    it is not purely wrong because there are traders who trade for living and they need to make money in monthly basis to pay their needs. the problem is not with the purpose of doing this business but the methods and how we react to our trading with our psychology. expecting to get more money from our little experience is also wrong thing to do because we must know our capability in trading and put our target into acceptable amounts.

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  3. #22
    Trader juniorpeters's Avatar
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    traders have big dream, if you ask a trader today where he see himself in the next two years he will reply, he sees himself becoming a millionaire but ask him how long has it took him to practice his craft, his reply might be 3months.which if we weigh this things he only have a big dream but lacks the right knowledge to bring them to reality.

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  4. #23
    Trader Toyen's Avatar
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    Quote Originally Posted by Makaveli View Post
    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.
    Traders can not be making money in the market all the time, there are some times of losses, we have to learn how to be realistic. Unrealistic expectations are the major things that is causing problems for traders, we should never allow that. When we have the necessary knowledge on how to trade the market, we will think rightly and we will be gaining as we should.

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  5. #24
    Trader ola4real's Avatar
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    Quote Originally Posted by Toyen View Post
    Traders can not be making money in the market all the time, there are some times of losses, we have to learn how to be realistic. Unrealistic expectations are the major things that is causing problems for traders, we should never allow that. When we have the necessary knowledge on how to trade the market, we will think rightly and we will be gaining as we should.
    Expecting too much with forex field will make us to make lots of mistakes which are expensive and can cause our total account loss. Traders should not be thinking too high of themselves as there is no one that is perfect. Unrealistic expectation is being caused by the mind which does not know much about the forex field too, that is why they think awkwardly about it.

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  6. #25
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    Expectations is one of the very things we can hope for in forex but for an unrealistic expectations it could cause us so much because when it does not come, you will take risky decisions that could cause you to loose. Expectations in this business is something very important and as long as we work hard and build a better business, we can always see ourselves reach for a great goal in time. We learn to have the right knowledge because if you understand this business you will know what kind of expectations we will see and know how to work around our trade.

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  7. #26
    Trader Sascha's Avatar
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    Quote Originally Posted by Tonycee View Post
    Expectations is one of the very things we can hope for in forex but for an unrealistic expectations it could cause us so much because when it does not come, you will take risky decisions that could cause you to loose. Expectations in this business is something very important and as long as we work hard and build a better business, we can always see ourselves reach for a great goal in time. We learn to have the right knowledge because if you understand this business you will know what kind of expectations we will see and know how to work around our trade.
    make things balance and stays at appropriate amount. remember about our skills in trading because it determines how many expectations we can get later. we can't expect to get a lot of profits from using small risk in short term trading, and it won't make any sense if we force the trading with it. be careful what you wish for, and learning will pay things off.

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  8. #27
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    Quote Originally Posted by Sascha View Post
    make things balance and stays at appropriate amount. remember about our skills in trading because it determines how many expectations we can get later. we can't expect to get a lot of profits from using small risk in short term trading, and it won't make any sense if we force the trading with it. be careful what you wish for, and learning will pay things off.
    Many traders fail in Forex because they expect too much from their small deposits in a small time. Even if we are skilled and equipped with a strategy we should make sure we set targets that are well achievable. A strategy gives profits only when we understand it and with self control follows the management of risks. Balanced traders can be more focused and accurate in doing his trading.

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  9. #28
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by ola4real View Post
    Expecting too much with forex field will make us to make lots of mistakes which are expensive and can cause our total account loss. Traders should not be thinking too high of themselves as there is no one that is perfect. Unrealistic expectation is being caused by the mind which does not know much about the forex field too, that is why they think awkwardly about it.
    Such expectations with market is allowed to have in mind. To make things happens for real, we must also put more efforts with our trading and learning so we can increase our expectations bigger according to the plan. If we still expecting bigger things but do nothing about it, then we better stop trading a while before we lose everything we have due to low accuracy of strategy but big target to make from market. Having such unrealistic things will give us bad result.

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  10. #29
    Trader juniorpeters's Avatar
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    every trader have this big dream of making money from Forex within a short space of time,its not bad to think that way but you need to be well experience before you can achieve such goal in this business.knowing for a fact that Forex is one of the most difficult business to venture into,so plans need to be drawn and it has to be accompanied by patient in other successfully execute the plan.

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  11. #30
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    Expectations are good to have in forex but having an unrealistic one could create trouble for a trader in forex. It's well necessary that we understand how to build the right trade and get on the chance to improve perfectly in our trade. I have seen a newbie who have the expectations to become a millionaire in 4 months of trading, however he later on felt depressed and disappointed understanding that forex is one of the very difficult business to do.

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