of Forex advertising out there always yield something like ď$2,000
properly positioned in Forex market can give you returns of over $10,000
profitĒ Advertisements like this are a disservice to the financial
industry as a whole and end up costing uneducated investors a lot more
than $2,000. In addition, they help to create the third fatal flaw:
Unrealistic Expectations. Yes, it is possible to experience above-average
returns trading your own account. However, itís difficult to do it without
taking on above-average risk. So what is a realistic return to shoot for
in your first year as a trader? 50%, 100%, 300%? Whoa!
Donít get caught in those unrealistic expectations. The goal for every
trader their first year out should be not to lose money. In other words,
shoot for a 0% return your first year.
If you can manage that, then in year two, try to beat the market. These
goals may not be flashy but they are realistic, and if you can learn to
live with them and achieve them you will wipe out fast.