The Most Devastating Beginner Trader Mindset Mistakes
The most frequently asked questions to me are:
1. How much profit will I get per month if I use your EA?
2. Looking at your signal history data, I will get xx% profit, correct?
And I have difficulty answering this question, because there is no straight answer for this, if I answer yes, I realize I can’t change the economic and political situation as I want and of course I don’t have the ability to ensure that forex prices will remain stable according to historical data, correct?
So I’ve stopped counting how much profit I will get per month.
I used to do it like they are doing now, and in the end I lost control and lost a lot because the focus was wrong.
With me trying to calculate profit monthly, I became obsessed and finally hypnotized to get the profit I imagined and wanted, finally I even increased the amount of my deposit so I could fulfill this desire.
and I believe 99.99% of novice traders use the above method and mindset.
Please remember that forex trading involves high risk due to the use of leverage. Leverage is a double-edged weapon, you can get big profits with only a small capital or you can lose all your money. No one dares to predict future forex price movements with certainty, make sure to use the smallest possible start balance, so that if you experience a loss, your loss will be limited as small as possible.
conclusion, Forex trading is about control and managing risk, it requires experience and takes time.