Most people become unrealistic
Jan 19, 2022 at 07:04
It is important to know that most people become unrealistic when they begin to trade in forex. They expect to become wealthy in no time, or they may even want to become millionaires overnight, but this is something that will most likely never happen. Forex is a long-term game, and you should never expect to become wealthy overnight.
Jan 19, 2022 at 07:25
Traders need to know that when they are starting to trade, they need to know that the goal has to be realistic and not to be mistaken with overachieveness. They tend to become unrealistic after making few profits, thinking if they can do it then they can create unrealistic goal.
Jan 22, 2022 at 13:47
Well, it's a really spread issue within trading community. Sometimes new traders believe in themselves more than professional traders. Everything because they heard that trading is something about easy money, while in fact it's not like that at all. Trading implies bunch of hard work and it means that there is no easy money at all.
Everything that new traders might earn is 20% plus to their deposit within a month and this result is amazing one. Mainly because new traders as a rule lose their money, because of this over-self-confidence. It's cool that people are confident, however it must have wise borders. Overconfidence eliminated plenty of traders from the market.
Everything that new traders might earn is 20% plus to their deposit within a month and this result is amazing one. Mainly because new traders as a rule lose their money, because of this over-self-confidence. It's cool that people are confident, however it must have wise borders. Overconfidence eliminated plenty of traders from the market.
Membre depuis Jul 20, 2020
posts 399
Jan 22, 2022 at 15:57
Absolutely, its feed by people trying to make money from affiliate links to all sorts. You need to treat this like any other business and expect to work hard for it. There are massive profits to be made if done correctly
Membre depuis Mar 16, 2021
posts 477
Jan 23, 2022 at 02:47
Most traders think unrealistically so they cannot succeed in trading. To trade, I have to trade with a positive mindset according to discipline.
Jan 28, 2022 at 04:08
Whether it’s about setting goals or expecting results, always be realistic. Set modest goals because unrealistic goals are not only hard to achieve but they also create mental stress which itself can be detrimental for your psychology. In the same way if you expect huge results quickly, it can disappoint you to the extent where you feel like quitting.
Marcel Durham (MarcellusLux)
Membre depuis May 19, 2020
posts 336
Jan 28, 2022 at 13:16
What the business is possible to establish with $10,000? But maybe it depends on the country financial condition... anyway, forex is the most accessible type of business. Just see, if you have $100, you can only buy some food for nice dinner, this is investing in your health. But if you have the same $100 on forex, you can trade with any instrument and buy/sell almost everything because of leverage and lot size. So if forex accept only 1:1 leverage, this will be closer to real business project with real profit ability.
@Marcellus8610
Membre depuis Jun 07, 2021
posts 72
Feb 04, 2022 at 05:34
It is human nature to expect big things from something they see a lot of people are getting a lot. People talk about the huge profits a trader makes without knowing the efforts put in by them in the past. The new traders need to understand that they cannot expect huge profits right from the start. It will take a lot of dedication and consistency to reach that level.
Feb 04, 2022 at 10:45
whitneytyler posted:
It is human nature to expect big things from something they see a lot of people are getting a lot. People talk about the huge profits a trader makes without knowing the efforts put in by them in the past. The new traders need to understand that they cannot expect huge profits right from the start. It will take a lot of dedication and consistency to reach that level.
This is the problem, all those scammers claiming Forex is a get rich quick scheme. That is why so many trader have unrealistic expectations
Feb 09, 2022 at 05:40
People who are unrealistic in forex trading will lose their money. This is because they spend time following patterns, indicators and gurus. It's actually all pointless. One should develop a trading plan and stick to it. If they don't, they will most likely lose their money.
Membre depuis Nov 20, 2021
posts 19
Feb 09, 2022 at 08:07
There is no advantage of expressing yourself what you are not in actual. This will slowly train your mind with dual personality which eventually leads to the stressed life.
Feb 10, 2022 at 10:45
I think it is the culture that we live in now where instant gratification is the norm or at least the pursuit of it is. I love crypto but think that stories of people 100xing their money in a week causes confirmation bias that it is normal in other areas like forex.
If you can't spot the liquidity then you are the liquidity.
Membre depuis Dec 14, 2021
posts 28
Feb 18, 2022 at 05:20
Any type of unrealistic approach in trading might lead to unexpected losses. Unfortunately many new and young traders have these unrealistic goals which are supported by misconceptions about trading being the easiest way of earning money.
Membre depuis Feb 21, 2022
posts 9
Feb 23, 2022 at 10:48
Briosody posted:Peirameter posted:You’re right, and it won’t take long before that bubble bursts and they get the reality check.
Any type of unrealistic approach in trading might lead to unexpected losses. Unfortunately many new and young traders have these unrealistic goals which are supported by misconceptions about trading being the easiest way of earning money.
The problem many (and myself) have had is that even after the bubble bursts and the first account is blown, people keep coming back and trying to make money but end up losing. I am sceptical if it is even possible to make profit from forex trading
Membre depuis Feb 16, 2022
posts 63
Feb 23, 2022 at 15:21
RobSchiz posted:True, I know a trader who are expecting 100% return in every month, but his trading skill is too immature, less than 30% accuracy! On the other hand, his money management plan isn’t organized, but till now expecting 100% return! That’s the reality!LeonRocky3 posted:You need proper knowledge and patience to become successful in this market.
I agree no point thinking you will get rich straight away for ever. Just take your time and be realistic.
Membre depuis Jul 20, 2020
posts 399
Feb 23, 2022 at 17:02
Tilokvarma posted:RobSchiz posted:True, I know a trader who are expecting 100% return in every month, but his trading skill is too immature, less than 30% accuracy! On the other hand, his money management plan isn’t organized, but till now expecting 100% return! That’s the reality!LeonRocky3 posted:You need proper knowledge and patience to become successful in this market.
I agree no point thinking you will get rich straight away for ever. Just take your time and be realistic.
Thats the issue it doesnt work having such high expectations. Its key to have working management patience and rules for entry and exit after that let the market do what it does
