Unrealistic Expectations
September 13, 2010
Beginner sportstraders are frequently burdened with the baggage of unrealistic expectation.
It is understandable how these unfeasible expectations can be formed in the psyche of the novice trader. He may have seen websites that promise enormous returns; adverts that extol some trading programme which claims to have a success rate of 97% on all trades. He may have read an article about some trader who pulls in $10,000 a week by working one hour per day from his palatial shoreline home.
Being exposed to nonsense such as this, it is easy for the beginner trader not only to believe the hype is possible, but to actually expect that unrealistic level of success.
The beginner trader has become a victim of sales gimmickry and embarks on chasing the dream without pausing to realise that the adverts and websites are simply engaging in promotional pimping to ultimately sell something. The "services" these adverts promote will only emphasize the "possibilities", and will always ignore the realities.
If trading was as easy as they purport it to be, everyone would be doing it.
If the beginner trader saw an advert "You too can become a neuro-surgeon with our easy Two Hour Learn-At -Home CD and immediately earn $10,000 per week" he would imediately dismiss it as preposterous. Conversely, a similar advert where trading is concerned promising a similar monetary return can persuade him that such is possible.
Unfortunately, sales pitches like those outlined above can cause monetary and psychological difficulties to the beginner trader. The unrealistic expectations engendered by such material will lead ultimately to disappointment and rash trading actions.
I firmly believe that trading with unrealistic expectations is a guaranteed way to lose your entire trading bank.
It is understandable how these unfeasible expectations can be formed in the psyche of the novice trader. He may have seen websites that promise enormous returns; adverts that extol some trading programme which claims to have a success rate of 97% on all trades. He may have read an article about some trader who pulls in $10,000 a week by working one hour per day from his palatial shoreline home.
Being exposed to nonsense such as this, it is easy for the beginner trader not only to believe the hype is possible, but to actually expect that unrealistic level of success.
The beginner trader has become a victim of sales gimmickry and embarks on chasing the dream without pausing to realise that the adverts and websites are simply engaging in promotional pimping to ultimately sell something. The "services" these adverts promote will only emphasize the "possibilities", and will always ignore the realities.
If trading was as easy as they purport it to be, everyone would be doing it.
If the beginner trader saw an advert "You too can become a neuro-surgeon with our easy Two Hour Learn-At -Home CD and immediately earn $10,000 per week" he would imediately dismiss it as preposterous. Conversely, a similar advert where trading is concerned promising a similar monetary return can persuade him that such is possible.
Unfortunately, sales pitches like those outlined above can cause monetary and psychological difficulties to the beginner trader. The unrealistic expectations engendered by such material will lead ultimately to disappointment and rash trading actions.
I firmly believe that trading with unrealistic expectations is a guaranteed way to lose your entire trading bank.
Posted by Joseph Crowley.
