Unealistic Expectations
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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

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    ara, This is apt, because traders that are coming in in the market mostly have this kind of plans, I think most of us when we are new at some point in the market we have this plan and then along the line, we got to know that this will not work and will mostly make us loss our money. Being able to make money from the market starts from the point of correcting of the wrong things we think like making millions in a short time.

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    Rookie layigold's Avatar
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    What a quality thread you have here and it is in deed insightful and eye opening . High expectation is very common among beginner traders and they feel like making thousands of dollars from a very small account size without thinking of the possibility of having a drawdown . I am particularly happy that you mentioned in the thread that success is a matter of time in forex trading and not what any beginner trader can achieve overnight.

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    Rookie Azis Muslim's Avatar
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    Try to make a different calculation other than what we can see on your table above, it is unrealistic and only possible for traders who has been trading for a decade at least with tons of experience and knowledge. For tiny traders like me who still trading for couple years, that target looks impossible to achieve and looks aggressive enough to reach. I prefer safety trading and make enough profits in long term.

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    Rookie ola4real's Avatar
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    Quote Originally Posted by Real View Post
    ara, This is apt, because traders that are coming in in the market mostly have this kind of plans, I think most of us when we are new at some point in the market we have this plan and then along the line, we got to know that this will not work and will mostly make us loss our money. Being able to make money from the market starts from the point of correcting of the wrong things we think like making millions in a short time.
    The traders who will be realistic about the forex field will not think beyond what is possible in this market, not that the trader will think he can be the richest man on earth in the next 6 months, that is not possible. Forex field need us to make income, but the income making will be gradual process, and we should not force anything or trade aggressively, that may affect us totally.

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    There is so much eye opening about your thread and it worths every time spent reading all through. Most traders have unrealistic expectations and that's where the beginning of their problems would come from. The zeal to make fast money have always been the real reason they loose in this business. The expectations for newbies is so huge that they go as far as targeting huge money within a short time. It's high time we understand the plans to work on this trade and maintain the best kind of trading which can be very profitable with good risk management and patience.

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    Rookie Yayami's Avatar
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    one of famous unrealistic expectation is with our future planning. stop expecting to get one million dollar in the next couple years if we're still trading so bad and start it with little investment of $100. there's a chance to get that target but please, be honest to ourself and don't force ourself so hard just to get something we can hardly achieve. i don't plant this mindset because i know my capabilities in trading and accept every results i can make from market.

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    Rookie layigold's Avatar
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    The lot size showcased here is too high for me and I will never plan my account that way . Suppose I have $1000 account , 30% return on investment is quite okay by me but on each trade taken , I will only expose 5% of my account to trading and that means that I will only risk $50 on that account size and my rewards is always double the risks I take . Thorough mathematical calculation must be done here if one is not ready to lose his account

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    Rookie juniorpeters's Avatar
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    wow this is really wonder,i really laughed at this mate.how possible does a trader think he can turn a 10$ account into almost a million dollar?its really an unrealistic expectation.many traders trying to do this actually end up losing many 10$ account which can some day amount to almost a million dollar they wish to make from the market.Forex should be treated like a business and not seeing it as a place to get reach quick.

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    Registered user ara's Avatar
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    Quote Originally Posted by juniorpeters View Post
    wow this is really wonder,i really laughed at this mate.how possible does a trader think he can turn a 10$ account into almost a million dollar?its really an unrealistic expectation.many traders trying to do this actually end up losing many 10$ account which can some day amount to almost a million dollar they wish to make from the market.Forex should be treated like a business and not seeing it as a place to get reach quick.
    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 .

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