Realistic Expectations while Trading Forex

Forex Takes Time

Sadly, many leaders in the Forex industry will try to sell you a dream of becoming an overnight millionaire.

If you look at the statistics of traders in general, then you will realize the majority of traders fail especially initially.

As we have learned from years of trading, Forex trading takes time, patience, and refinement.

Realistic Expectations while Trading Forex

Can you make millions trading Forex? Absolutely! There are people in Leveled Up Society who are proof, but it didn’t happen overnight.

If you think that these traders haven’t ever blown an account or lost substantial sums of money, then you are kidding yourself.

A good way to make sure that you stay in line with your expectations is to set rules when trading Forex.

Set Rules when Trading Forex

All traders should have rules that they set in place for themselves.

Honestly, the best advice we can give to beginning traders is to risk only a small percentage of your total capital.

For example, a good starting percentage to risk would be around 1.5% to 2% of your available trading capital.

Let’s say that you have $1000 in your account, then the maximum loss allowable should be NO MORE than 2%. With that in mind, then your maximum loss for a trade would be $20 per trade.

Obviously, as you become more experienced then you can start to experiment with different risk percentages and implement what works best for your style of trading.

Another important rule is DO NOT quit your full-time job as a beginning trader.

In fact, having a regular job will help to fund your trading journey and help offset any significant losses that you incur while trading Forex.

Always Stick to your Forex Trading Plan

Remember that being a successful Forex trader isn’t luck!

The best Forex traders all have rules and a plan.

After visiting the FX Summit in Miami and seeing some of the biggest Forex traders including Lambo Raul, they all made it very clear that they each have their own unique strategy that helps them to succeed in trading.

What works for one trader won’t necessarily work for another.

The only way to find what works for you is by trial and error.

Why Manage Expectations?

Simply put: realistic expectations and actually managing them will lead to consistent growth.

Consistent growth is the key to successful Forex trading.

Also, managing expectations will help to keep you in the right mindset for trading.

It is important to adopt the right mindset when you are dealing with finances which, let’s be honest, is emotional.

The more risk that a person takes will lead to more emotional trading decisions and managing your expectations can help to manage your emotions.

Trading with a Prop Firm

All the same rules apply when trading with a prop firm.

Once you have created a successful trading strategy and you are ready for funding, then it is time to Level Up!

Joining a Forex prop firm such as Leveled Up Society is a great way to implement your strategy and see bigger gains since you will be trading with a fully funded account.

Who is Leveled Up Society?

Leveled Up Society is the best forex program due to its keeping forex simple by offering professionals a community to grow and it was founded by Alex G and Lambo Raul.

In order to receive a funded account, traders must pass a 2-phase evaluation process, and then after passing, traders can get funded up to $600,000.

So far, Leveled Up Society has funded thousands of traders equaling millions of dollars, and has changed many lives in the process.

Remember to have realistic expectations while trading forex and get ready to level up!

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