Thread: Trading Expectations vs Reality

As the title suggests what exactly were your expectations once you got into trading? And what was be a reality?

PSI went to through few threads at the newcomer section, another bunch lost their mini accounts over few weeks they believed that they might earn a living out of a 100$ or even 500$ account. So I figured it would be interesting to hear from others veteran and ne w, consistent and not so consistent traders what was their experience like whether it might save even a single person from moving through the gaming phase or losing an account that is all the better.

Originally Posted by ;

quote Frankly, now I understand my trading ability very well; that's way I do not expect to make any overt profit! I have put my trading targets based on my trading performances!

That's a good one!
Because most people when we're just starting out tend to set unrealistic goal for our account and also our ability, couple that with a leverage a recipe for failure.

Originally Posted by ;

As the name suggests what were your expectations once you got into trading? And what was be true? PS: I went to through few threads at the rookie section, another bunch lost their mini accounts over few weeks they believed they could make a living somehow out of a 100$ or perhaps 500$ account. So I figured it'd be interesting to hear from other people veteran and new, consistent and not so consistent traders exactly what was their experience like whether it might save even a single person from moving through the gambling phase or losing an account that's...

Well when I entered the trading world of Currency Market,stock markets it looked like wow I saw prices go down and up and all I needed to do is predict the markets to make money and I thought its simple.But shortly I figured out that what I had been attempting to do was something which even the top professional traders,hedge funds,banking associations have been struggling to do.Than I suddenly realised just how hard the game was,but because I had beginners luck I managed to utilize that time to find out more about the markets in my way and after 3 years I discovered my edge and because than there is no return.

Originally Posted by ;

As the name suggests what exactly were your expectations once you got into trading? And what? .

//--

hey piquant.... Speaking concerning forex trading, my original expectations were way too high.... as were my losses.... Nevertheless, it appeared to be something inside my abilities....

I didn't quit.... It has paid off....

But it turned out to be a very long tough row to hoe...h

Originally Posted by ;

quote //-- hey piquant.... Speaking in terms of forex trading, my initial expectations were way too high.... as were my losses.... Nevertheless, it appeared to be something inside my skills.... I did not quit.... It has paid off.... But it was a long tough row to hoe...h

somehow I also felt as though I could do it - not I have done it but I think I'm on that route.
You are just a failure if you quit.

Excellent motivation for people that are struggling still.

Originally Posted by ;

quote When I entered the trading world of forex,stock markets it seemed like wow I saw prices go down and up and all I had to do is predict the markets to earn money and I thought its simple.But soon I figured out that what I was attempting to do was something which even the top professional traders,hedge funds,banking associations have been unable to do.Than I suddenly realised how hard the sport was,but because I had beginners luck I was able to use that opportunity to research the markets in my way and after 3 years I found my advantage...

it is not quite as simple likely the toughest profession to learn.
But as soon as you get it of course you're not likely to look back, since you'll no longer have to start looking for a job and be worried that you're likely to be made redundant.

Originally Posted by ;

quote it is not quite as easy probably the hardest profession to master. But once you get it of course you are not going to return, because you'll no longer have to look for employment and be worried that you are going to be made redundant.

Yes its extremely difficult to master even tougher than chess because in chess there are particular principles and motions you could follow and eventually become a grandmaster where as in this there are no particular rules but instead there are a number of unwritten and unfamiliar rules which needs to be followed appropriately and but as you mentioned once its been mastered than that is the best thing that can ever happen to anyone.

Back 9 yrs ago, very first time with Currency Market, my expectation was level out 2-3% a day profit.
Competitive gambling, but had a fantastic run with nearly pure martingale.

Fast forward, starting to put more serious money in, my expectation was to beat bank by approx 3-5x ( with currently still around 1-1.5% yer year, that is 3-7% annually )

my reality sweetspot seem to stand somewhere between those expectation numbers, possibly around 3-5% per month normally.
That'diminished' return is enough however to let me become a complete time trader and live on the income. ( of course not like a king, but neither my job provided that, nor I Have to)

Originally Posted by ;

quote there are a few unwritten and unknown principles which has to be followed appropriately and but as you said after its been mastered than this is the best thing that can ever happen to anybody.

spot on!

Forex is all about reality and expectations.
Expectations: easy time, easy cash.
Reality: hours before track and charts, lots of analysis, economic and political advice ought to be processed. Nervous tension like prior to the first kiss every day. Hard work on yourself to achieve stability.
Forex is a hard task and very harmful action. Forex can make you rich. Forex can provide you with a chance but Foreign Exchange would like you to alter yourself.
I spent years to loe my own egy and profit. 5 decades back, I supposed Foreign Exchange is a hobby for a several months.