Are Your Trading Expectations Realistic? It’s Time to Get to Know the Real Forex Trading

 


It is common to have all those unrealistic expectations when you first enter the Forex market. But don’t let those expectations get into your head. Expecting to have a million on your Forex trading account within a week of trading is an example of unrealistic expectations. Instead of thinking about millions, think of your daily earnings. Don’t get ahead of yourself as this will only distract you with your tasks and if this expectation is not met, disappointments will hurt you.

The Danger of Unrealistic Expectations

Unrealistic expectations are considered as the trader’s worst enemy. If you can’t fight this emotion, you will end up being frustrated and emotional trading comes in. When you trade, you should focus on the things that are realistic especially if you are a newbie and don’t know much about the market. Let your experience teach you the best techniques and strategies to use. Set up some realistic goals that will guide you in each of your trades. Live in reality and make it perfect!

Lower Your Expectations on your Trading Strategy

The truth is, you cannot make a successful home run on the first try of your trading strategy. The strategy you use in trading is similar to a tailored suit. The suit won’t fit all and therefore, alterations are necessary. Managing your expectation requires a better understanding of the market and how you should deal with the price action.

If you choose to understand that you can’t take control of the market and get a hold of your expectations, you will end up making rational decisions. When you decide rationally, you will have more wins and you’ll get close to achieving your ultimate goals in trading.

The Success of Other Traders Doesn’t Guarantee Your Own Success

You might hear success stories of traders that encourage you to strive harder but there are also a good number of traders sharing their failures and mistakes. As a trader yourself, you can learn from personal experiences more than the things that you read online or you hear from your pals.

The bottom line here is to not be afraid of losses. Winning and losing are inseparable in Forex trading. Although you cannot avoid losses, you can control them by sticking to your trading plans and utilizing stop losses. When you lose, it doesn’t mean that you did something wrong. Remember that the Forex market is not rational all the time.

You must also understand that there is no setup that can possibly work 100% mistake-free all the time. So, no matter the results, as long as you have done your best with your homework, there’s no one to blame if your trades go bad.

Do you have unrealistic expectations? These questions might help you find your escape.

     Are you overtrading?

     Are you repeating your trades?

     Are you leveraging too much?

     Are you randomly making trades?

     Do you still believe that there is a holy grail?

Find the answers to these questions and you will avoid expecting too much on your trades.

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