Forex trading maybe make some traders confused when setting too high a target untouched and the price bounce hit stop loss but set too tight stop loss will hit stop loss so often, sometimes trader needs to be the realistic target and stop loss to get balance.
saluteband posted: Many people become unrealistic about forex trading, because of a lack of knowledge, and as a result, they are unaware of the risks that may arise along the route, resulting in significant losses.
I think being unrealistic is the biggest flaw for sure if people gave trading the same effort and commitment as a degree they would see so many better results imo
Unrealistic expectations are a result of a lack of knowledge. When a trader knows what is happening in the market and what needs to be done, they focus on what is possible. They will build their trading strategies accordingly and won’t distract from their plans.
One of the major reasons why forex traders become unrealistic is that there are no entry and starting filters. They are not well informed and often believe in everything that advertisements tell them about trading. With no knowledge of the live market and real situation, new traders jump into the market with the hope of making exceptional income.
Unrealistic trading creates no value for a trader. So make you trading realistic with new strategies and always try to view the market from your fundamental viewpoint. Fundamental signal generation helps a trader in understanding the market movement.
If traders’ motive is right, their trading cannot go astray. So, traders have to be passionate about trading and find out the ways by which they can reap much gain from Forex trading. After all these things done, they must search for a good trading broker to start trading career.
Take several measures to flourish your trading. A trader can be well-learned by taking lessons from his mistakes. Forex trading is such a thing that can fully destroy you if you don’t have a valuable asset like learning. So, select your professionalism considering your worth.
The get-rich-quick scheme doesn’t apply in trading and if that happens to be a newbie’s mindset, they are definitely going to lose more often than experienced traders. A trader must have enough patience that keeps their emotions in check, work on backtesting different strategies and constantly enhance their skills and knowledge. Unrealistic expectations lead to loss in funds, and in the individual’s sense of being.
Many traders lose the concept of why they started trading as they continue to do so, and they get impulsive and lose control of their money and can’t manage situations in the best manner. To avoid losing your capital money, a trader must be prepared beforehand and must inhibit patience and it's very important in the long run. Set realistic goals, those achievable in a short period of time, then expand and explore.
Some people trade forex in the hopes of becoming wealthy overnight. However, this is not the case. Because trading forex isn't easy, you must have a strong understanding of the market and should initially practise on a demo account to acquire useful skills.
Most people become unrealistic when they begin to trade in forex. Most of them think that forex trading is easy and start expecting to become rich in no time but forex is a long-term game that requires proper knowledge and patience to become successful in this market.
Mpst of people unrealistic at all. Even in business. Not only forex. But at forex there're a lot of those who don't understand the risks. Most of all they don't even know what the risks are these... And they lost. And they angree. And they blame everybody in this.
Mostly new traders are unrealistic because they get too influenced by the lucrative advertisements by some scam brokers. They think of the market to be an easy place to make money and often make wrong trading decisions.
I must say that scams are doing a great job. They are alluring new traders into believing how easily they can get through trading and make some good money. Such traders often become unrealistic because who doesn’t want to make money?
Most of the people are often in the myth that they’ll be earning quick money from forex. It's quite unrealistic to expect overnight success in Forex trading. Similar to other professions, it will require time to master the markets and become profitable in them. Unrealistic expectations regarding trading may do worse than good as traders can commit mistakes while trying to achieve their unrealistic targets. Expectations in forex should be judged with different variables: account size, the timeframe to become successful, and your trading abilities.you cannot expect to become a highly skilled and successful trader with a few months of learning and practice. You always need adequate time to learn the basics, build your strategy, test it, and practice it before you even start live trading. Once trading live, the learning circle starts again. There is simply no shortcut to this process, no overnight success, and no holy grail to become rich quickly.