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Thursday, February 14, 2013
Low Exectation Currency Trading Philosophy
I want to take this opportunity to share with you a counter-intuitive <a href="http://bestforextradesignals.com/free-forex-training-by-best-forex-trade-signals/" target='_blank'>Forex Trading Mindset</a> I call, "Low Expectation Forex Trading". I know it sounds wrong that you would want to lower your expectations when trading Forex. But lowering what you expect to gain from your trading just could be the step you need to take to start reaching your profit goals. Let's start by having you answer the following questions.<br><br><br><br>What would it take for you to think of yourself as profitable Forex trader? Do you even know what success looks like? And what are you basing those expectations on, real world data or some kind of made up fantasy? Are you really looking for 100% profits every month? Is that what you need from Forex trading to consider your efforts worthwhile?<br><br>The truth is, most people have no clue what it looks like when you are a profitable trader. No matter what you accomplish you always think you need more. This is understandable since the majority of people wanting to profit from currency trading these days are at-home traders with little contact to real traders. And since you don't know other traders, you always think they are profiting more than you are.<br><br>In the end, success comes down to your expectations. If you meet your expectations, you'll consider yourself a success. If you do not reach your goals, you'll consider yourself a failure.<br><br>A good rule of thumb is to lower your expectations and make your goals easily reachable. This can pretty much guarantee your success. When you adopt the "Low Expectation Forex Trading Philosophy" you can make success a reality and not just a dream. Now don't worry, great wealth can be created over time even when your expectations remain reasonable.<br><br>Here are 3 places you should consider lowering your expectations...<br><br>Try decreasing percentage gains monthly or yearly goals. Of course, it would be wonderful to make 100% gains every month. But that goals is not realistic, no matter what the so called Forex gurus say. Starting with just $2000 and making 100% a year (not a month), would make you over a million dollars in less than 10 years.<br><br>Try decreasing your monthly goals in terms of pip gains. Everyone seems to be stuck thinking you need 1000 pips a month to be profitable. The truth is, pip gains are secondary to your overall money management. You can grow great wealth with just 100-200 pips a month.<br><br>Try giving up altogether your expectation of being able to trade Forex by yourselves. The truth is, most people do not have the discipline to learn the strategies, the mental fortitude to trade properly under live market conditions or the time to sit in front of the computer trading. If might be better to use a Forex signals service and let an already profitable trader do the trading for you. To learn more: <a href="http://bestforextradesignals.com/free-forex-training-by-best-forex-trade-signals/" target='_blank'>Forex Trading Mindset</a>
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