I think many new traders often doom themselves even before they open up their trading charts because they buy into all the marketing hype that's been fed to them, and they think they can easily get something for nothing.

I sure hope you realize that trading, like almost everything else in life, requires substantial effort and time before you can enjoy the benefits. If you have money to spend on training courses and personal coaching, then great, you can cut down on the amount of time needed to learn to trade profitably. If you don't want to spend money, you'll just have to spend more time learning through experiments (demo trading) and through free information. There's always a trade-off between money and time: you often have to spend either one. You can't save on both at the same time.

The problem is that too many wishful-thinking people don't want to spend money OR time to learn to trade well. They think there's some miracle pill they can purchase for under a hundred bucks that can instantly turn them into a wealthy trader... unfortunately the only wealthy people at the end of this transaction are the scammers that cheat them of their money.

Another problem about being realistic is that almost all new traders have the wrong thought that one can quickly get rich in Forex trading. While this is certainly possible, it's highly unlikely that anyone new to trading can make $10,000 a month right off the bat. I'm sorry to burst your bubble, but it's the truth.

You have got to ask yourself: "What's a realistic goal for me? 5 pips a day? 10 pips a day? 20 pips a day?"

Remember the obvious part: the more money you want to make from trading, the more risk you'd have to take. Generally, an average daily gain of 30 pips is considered to be well above average. If you're new to trading, try to aim for a consistent 15-20pip gain daily.