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  1. #1
    Senior Investor itu's Avatar
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    Default Unrealistic/irrational expectations from traders

    “If there were a cornerstone to trading it would be the ability not only to be resilient when in drawdown but also to accept that we get things wrong. Sometimes there is a flaw in our methodology that we have not seen and that we simply have been lucky up until this point. This does raise the question of when do you know you have entered this spiral of self destruction and to my way of thinking the answer is not that hard. If you have been losing money for the better part of a decade then it is fairly obvious that there is something seriously wrong in your methodology.” – Chris Tate

    Can you make 1,000% returns per year from trading?

    I DON’T THINK SO.

    Every so I often I am party to an email from someone who should know better. This particular email was around the topic of returns that could be expected from a novice trader. This email asserted that they were looking at the order of 1,000% pa, which in anyone’s language is a tall order.

    I can understand how people get these figures in their heads, the internet is awash with people claiming that you can give up your day job and intraday trade FX with $5,000 and live like royalty with no risk. Intriguingly I have once again started receiving spam emails from people claiming that options writing is a no risk cash flow generating strategy.

    As such it is easy to see how peoples psyche becomes infected with this sort of nonsense and how with little real world experience they are sucked in.

    However I was curious as to what the numbers would look like if you were making 1000% pa so I fired up Excel and let it rip with a starting balance of 1,000.

    Please check here to see the figure: http://tradinggame.com.au/i-dont-thi...57c63-43344013

    I don’t even know how to say that last number. Suffice to say that somewhere around the first months of year 7 you are the richest person in the world and by the end of year 10 I think you have all the money.

    Author: Chris Tate

    Article reproduced with kind permission of: Tradinggame.com.au

    Another great quote ends this article:

    “You should spend a great deal of time and thought on your exit strategies, for one very good reason: you don't make money when you enter the market, you make money when you exit the market. Far too many people focus only on market entry, or what to buy, rather than on when to sell. If you approach trading with an exit strategy, it will benefit you right away.

    Your system should reflect your beliefs (i.e., who you are as a trader and as a person). Many people are just looking for “any system that works,” but if your trading system doesn’t match your beliefs about the markets, you will eventually find a way to sabotage your trading.” – Van Tharp Institute


    www.tallinex.com wants you to become a successful trader
    Buy and sell Perfect Money/Payeer/Epay/Neteller/Skrill: www.ituglobalfx.com.ng

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  3. #2
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    AGEA is very supportive for all kind of traders. They gives you subsidizes security, best trading platform, amazing trading support and all the real trading conditions to make your trading more productive. They are so far, the best Forex trading broker I have traded. They have surprising informational resources on forex trading. Their product and service offering is all encompassing. They are the award-winning broker for their quality of services.

  4. #3
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    I exchange with Forex4you and I can see how individuals get these figures in their heads, the web is inundated with individuals asserting that you can surrender your normal everyday employment and intraday exchange FX with $5,000 and live like eminence with no hazard. Intriguingly I have indeed begun getting spam messages from individuals asserting that alternatives composing is a no hazard income creating system.

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    Before getting involved with forex a trader’s expectation remain all time irrational. Because they want to get rich over night which is quite impossible indeed. So they should be realistic and should avoid thinking like this because it is not classified into professionalism. But every trader needs to select a right broker like I am with Trade12 broker with which I have the high security of funding because they use several reputed bank accounts and adept fund manager.

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    The subjective disharmony: this is a mental term used to portray the distress that a man is feeling amid two opposing convictions. The fact is that individuals jump at the chance to take after the majority of their convictions in congruity and stay away from the disarray with reality. I am a trader of TenkoFX and I know how can it feels. More often than not, the vast majority of individuals can approve of it. Be that as it may, the traders could feel truly crushed by this inclination. Why so? Since the vast majority of traders are so aspiring and certain that they begin to expect incredible things from trading.

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    I am a retail trader utilizing TenkoFX. Toward the start of my trading I feel like: "- Oh, that is so natural and quick to gain cash on Forex!" – "I can accomplish every day, unfaltering and beyond any doubt comes about!" – "I'll quit my activity and I'll begin trading at home, for beyond any doubt I'll escape!" So beginners additionally get such a wrong ideas and convictions on the one side, are loaded by genuine articles on the opposite side so they feel aggravated and befuddled by the end. A sensible and coherent arrangement is perceive and acknowledge that their incredible convictions weren't right.

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