FALSE Trading Expectations #2... Win Rate
Forex trading is not a 'get rich quick' scheme. It can make you rich, but it will do this slowly.
In order to make large returns, a trader may have to take large risks. High risk trading guarantees greater emotional and psychological challenges. This may lead to quick short-term profits but it will also lead to discouraging long-term losses.
Too many traders expect far too much far too quickly. They review their performance and results on a daily or weekly basis, this can lead to discouragement and disappointment. Profitable traders review their results much more longer-term.
Conclusion... Trading can make you rich, but it will make you rich slowly. To make trading work long-term, you need to risk a minimum. Expect to be patient. Review profits once a quarter or once a year.
In order to make large returns, a trader may have to take large risks. High risk trading guarantees greater emotional and psychological challenges. This may lead to quick short-term profits but it will also lead to discouraging long-term losses.
Too many traders expect far too much far too quickly. They review their performance and results on a daily or weekly basis, this can lead to discouragement and disappointment. Profitable traders review their results much more longer-term.
Conclusion... Trading can make you rich, but it will make you rich slowly. To make trading work long-term, you need to risk a minimum. Expect to be patient. Review profits once a quarter or once a year.