So… here am I again! Trading is indeed very exciting but one must not be dreamy in approach and make unrealistic plans. Forex trading is not a quick rich scheme that could make you rich instantly. So new traders must not think of unrealistic gains and make plans accordingly. Planning after careful analysis is the best way to go!
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Yaaaaaay!!
AGAIN!!!
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Well this is horrible news!!
What about my eyes!? Am I going to have to gouge them out!?!?!?!?!?
Every trader who comes here is having a dream of being rich and within short time. It is not true so never dream that you are going to win this market every time you trade here.
People who think they’d get rich quickly from forex usually lose a lot of money quickly.
Personally, I find that for such unrealistic expectations brokers have much influence. With their marketing campaigns it looks like that only thing you need to do to get extremely rich is to open account and deposit your funds, which is far away from reality
I truly agree with this. Trading will not fetch us anything if our trading plans are not realistic and achievable. Yes every trader wants to earn high returns, but thinking about those will not bring them in for you. For that, you will have to work hard and play smart in the market. Dreaming about your trading goals and making irrational plans is surely going to be of no use.
Many people who start trading incorrectly think it is a get rich quick scheme. This is not true and you need to focus learning how to trade before thinking of the rewards.
Agree with your point. Lots of people want a Lambo after week with a $10 deposit.
Wise words. Consider what can be lost before what can be gained.
You’re quite right that forex trading and trading at all aren’t about becoming rich in short times, however planning play s a big role in this activity. Of course novices shouldn’t set their purposes as to earn lots of money, become rich and do nothing until their days are expired, but a wise plan can lead them to success more rapid as they had no plan. Planning is about your goal, your intention to reach smth that you will happy with. You should set the goal such as “i want to become a master of trading”. But, unrealistic plans such as becoming rich in one day is the wrong mindflow of all of novices.
It is not harmful to be a dreamer, but in Forex there is nothing to do with such thoughts
I mean, as long as you have a realistic goal set in the minds when it comes to trading and strategy, it is okay to dream sometimes. We all love to dream.
Most traders are faced with the phenomenon of “inertia in trading”, which is the gap between idea and reality, between the dream of taking a risk and becoming an entrepreneur and the way it actually happens.
Most loser traders think they can make a lot of money without any losses. Is it possible?
Your success in your trading career solely depends on the effort that you put in. It has nothing to do with what goals you set. Just get your education right and keep your mind clear to focus on what you want to achieve and do everything it takes to reach your set goals.
Couldn’t agree more although this was the attitude I went in with at the start
That is a very important topic. It is of utmost importance to have down-to-earth expectations. Otherwise, a trader will be too unrealistic which will definetely lead to the absolute loss of the budget.
Many beginner traders don’t do one thing that the old timer do. Log down your trades, your emotion when entering trade, why do you enter trade, the news that happening during the trade. So on and so forth. In the future you can always refer to your log and see where the mistakes that you made. Have a proper Journal to track your records. Trading is like doing sports, keep improving your stance. You will see the difference in a year time if you doing this.
I’ve been trading for many years. Was searching for holy grail. But once the psychology is in place. You know that the holy grail is a calm mind. Numbers and charts are just there to show you where to entry and exit. The profits come when you can control your self.
Statistics is important too. Numbers don’t lie. Hopes without plan are.
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Totally agree with this statement. High expectations are able to make you lose lots of money. Before starting your way in trading, be prepared for hard work and self-discipline, otherwise, you are highly unlikely to be a success on the market.