Blank future of target is a situation where a person has no target in the future. So completely empty. Can be equated with hopeless or not having any hope. Conditions like this can occur in various fields, not only in the forex trading business. The causes of this condition are quite varied, but in general it is triggered by continuous failures. Failure makes people despair and lose the target to be achieved.
For example, Andi was new to forex during the corona pandemic. According to him, forex can be used as a place to find alternative income. Moreover, forex transactions can be done anywhere and anytime. At first Andi deposited 100 USD. He hopes that with this much capital, he can earn a profit of 300 USD per month. But it turns out that Andi is the MC instead.
Andi didn’t just give up, he deposited 100 USD again. But bad luck came to him again. He then tried again and again. However, because the dream profit was not achieved, Andi began to lose his enthusiasm for trading and eventually stopped. The moment when Andi loses his enthusiasm for trading is what is known as the blank of futures. He no longer has a shadow or a target anymore because of the MC alone.
How to deal with blank futures of targets in forex trading?
– Set realistic targets: realistic targets make it easier for us to achieve them and avoid failure. For example, if the capital is 100 USD, then the monthly target is 5 USD. If it’s more, thank you, but at least you can get this. Because the target is small, it is easy for traders to achieve it.
– Expand knowledge of analysis and money management: the goal is to increase profit opportunities and reduce margin call opportunities. That way our spirit will not collapse.
– Change your mindset: anyone can become rich, it’s just that the speed of achieving it is different. To avoid blank futures, forex traders must think that the process of achieving consistent profits is like running a marathon. Slow but sure.
– Improve financial condition: traders who depend on forex are completely vulnerable to falling into the abyss of despair. Because loss in forex means no income at all. Therefore, improve our financial condition first, then jump into forex. So forex is used as an alternative income, if it’s a profit, thankfully if it’s a loss, it’s okay.
Blank of future targets in the forex trading business means that the trader, as a business person, sees that there is no hope in the future whether he will continue the forex business or not. This usually happens when traders experience successive losses, or experience MC many times where it doesn’t only last 1 or 2 months, but for years. The trader has tried to study here and there, evaluate etc., but the results are still loss/MC again and again and it keeps happening so that he feels there is no hope in the future about the forex trading business he is engaged in. So it is clear that the cause of the blank of future targets in the forex trading business is loss/MC which keeps repeating.
How to Overcome Blank of Future Targets in Forex Trading
Then how to solve this problem? whether to switch to another business or continue? the answer to this question will vary greatly because it depends on each trader himself. However, I try to break down the problem into two parts as follows:
First: Take a good look at yourself and find out honestly whether the fault that causes the loss/MC to keep recurring is a technical problem such as lack of control over emotions, bad money management, low self-discipline, expectations that are too high like wanting to get rich quick , overlot/overtrade, etc. If the problem is something like what I mentioned, it can still be fixed. For example, if the problem is overlot/overtrade then the solution is you have to learn to use a smaller leverage, if the problem is discipline then you have to go back to the demo account and learn to be disciplined until it is ingrained, if the problem is with unstable emotions it can be overcome by meditation/hypnotherapy or the like, etc.
Second: If the problem lies in your difficulty in understanding price movements and analyzing them, or in other words, no matter what you look at, you still can’t see that there are certain repeating patterns that can be captured. And you think that the movement of the forex market is unpredictable, so my advice is to switch from the forex trading business and try opportunities in other businesses besides speculative business. Why is that? because that means a business that contains speculative elements is not your field, try another business, for example like a franchise from a well-known brand that has minimal speculation because it tends to sell well because it is already well-known.
Common Causes of Trader Failure
1. Not having a clear trading plan
First, traders should know what to do when faced with uncertainty in the market. Prices can move up and down in very dynamic patterns every day, so that without a trading plan, traders will be confused. When traders make transactions without a clear reason and basis for why to buy or sell, why sell/buy here and so on, it will be very easy to be swayed by market volatility, which in turn can affect psychologically and try to do something that might even make things worse (loss is getting bigger).
2. Not Disciplined in Executing the Trading Plan
Then, secondly, if you already have a clear trading plan that is written down or stuck in your mind, the next step is to implement the plan in accordance with a predetermined analysis. Discipline will affect trading results, and will provide comfort because you already know what to do according to the trading plan that has been made. However, discipline is also not easy to do so that some traders may fail at this stage, which gives additional points for the occurrence of a blank future of target.
3. Poor Money Management and Unrealistic Targets
In addition to the trading plan that will become a guide for traders when carrying out buying and selling transactions on the forex market, the next issue is money management. Forex trading has unlimited risk, there is no pity in forex, because when a trader does not use risk management for his capital, everything can be used up. Traders are required to be wise in determining the trading lot, then what is the limit of losses that can be accepted comfortably by placing a stop loss. But this is also not easy because sometimes traders forget about money management by removing their bazooka ammunition which will be very risky. What is the reason traders trade with big lots and big risks are targets that are too big or unrealistic.
Conclusion: How to Overcome the Blank Future of Target
Above, several common causes of failure in forex trading have been mentioned which can lead to a blank future of target. So by trying to counter some of these causes, it is hoped that traders can avoid the problem of failure in this forex trading business. Starting from making clear and effective trading plans in accordance with the techniques he has mastered, carrying out trading plans with full discipline, and applying risk management with good money management with realistic targets, in my opinion, will be able to overcome this so-called blank future of target.
