A lot of new forex traders have unrealistic expectations when they start trading forex. The goal for every trader in the first year of trading should be not to lose money, which is not case with the new traders. They think they can make 20-30% profits per month which is the percentage of profits what professional traders are making per year.
Do you have unrealistic profit expectations?
- Thread starter Rambo35
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LOL and one wonders why the number of new traders that keep entering the market is shooting up exponentially. Yup, if there was a competition for unrealistic expectations, the new currency traders would win it hands down and that's with a bush, clinton and an obama in the mix..
I totally agree and I would be more than happy if in the beginning of my trading I manage to obtain a balance of a "positive zero" :-D But it is true that new forex traders think they'll make money immediately and I think there are two reasons for this: 1. brokers- a lot of them "promise" sky-high profits and are advertising themselves in that direction, and 2. man's nature- I mean let's face it everyone would get excited and would rush to make MORE if he was promised easy money... So it's very important not to fall for this easy-money trick and to stay focused on your goal and do things gradually 😀
when we say unrealistic, its something like my first 150-200 deposit would be 2000-3000 a month, well yeah that was my mentality when i started trading a couple of years back I think i was already with hotforex then! and oh boy did i learn the hard way 🙂 but now I learned to appreciate a breakeven trade and be grateful that no loses were made! Im quiet happy with any positive outcome on a monthly basis even if its less that 5%
Well its not good to have an unrealistic expectation in forex trading. Your primary goal should be very achievable goal so that u don't get disappointed if you don't make unrealistic returns. However if you make anything extra you shall be glad
Ya. I had same. But there is a speech that you will learn from your fault. So I learned form my fault and this time with analysis I run my trade and it is good for me I think. Trade with demo account there was no pressure in my head. But when I came to real then a lot of thinking was surrounding me. So I was confused.
Agree agree agree and To make it simple the main reason is lack of knowledge.
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but i have a feeling that a lot of us even know still has that " oh, some day ill make it big and triple quadruple my money in forex" comon guys we all want to earn big 😀
I definitely expected (or hoped) to come away with an unrealistic profit in the beginning before adjusting my expectations. Still, it’s nice to go a significant amount of time with no losses even if you aren’t making much profit. All part of the process.
I don’t know if a 10% return is an unrealistic expectation or not but i think most traders enter the market with hopes of making money the very first month. One has to understand that you will get there with time, until that keep hustling and do not lose your money. Protect it at any cost.
It's great that you managed to use those bitter experiences as lessons. Having big expectations and focusing on profits too much is the downfall of a lot of beginner traders.
Thank you!
I either had to learn or just quit trading altogether and I did not want to quit.
I either had to learn or just quit trading altogether and I did not want to quit.
Doesn’t everyone, o do have one account that is very slow going but has survived better than the others
This is what we do. Having a big expectation may hurt us. Beginners seem to make this mistake a lot. We must take it as a business. At the beginning, we should try our best to survive and save our capital with live trading. As time goes by, profit will come. It may not always be 20%-30% since there are ups and downs in this business like any other businesses.
No doubt, many people do have high unrealistic expectations! Agreed, capital preservation is key, especially whilst learning. 1% per day is not unrealistic when you know what you are doing though
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