Forex online for nowadays and in the future have a good prospect for traders. Anyone who is dared to enter the forex market can have a great opportunity to produce or achieve maximum profit. Promising opportunity is truly seductive and tempting traders to immediately take a decision to enter the forex market. (Although on the contrary forex market can also make a trader runs out of his/her funds invested).
For those who are entering the forex market whether as a beginner or experienced forex trader- my question in this paper is how is your profit target in forex trading activities? Profit targets exist in the minds of our heads can affect the success or failure of our trading. Therefore we need to set it up so that what is being targeted before, is no longer just a dream, but actually able to accomplish.
I do not want to patronize, but let's making correction again about the magnitude of profit targets we have set, either daily or monthly targets. Because, according to my observations, the amount of profit targets is crucial to our trading behavior. The bigger of the target, need greater mental pressure to achieve it. It is as if we fail if unable to reach it in one hand. Although on the other hand, a large target can make us more excited.
The problem is when we set a big target, we do not have any appropriate skills to achieve it. That is, as a beginner who does not yet has accurate analytical skills and do not have a strong money management, profit targets should not be too large. Because when the transaction was a loss, we are further away from the target. And this, making our trading mental collapse, as all the roads becomes clogged.
So how much is a reasonable target?
There are some advice for us to define the target $ 50 per day. Is this allowed? Of course. But if appropriate when setting targets $ 50 / day while its capital is only $ 100?
Deserve! But for the master traders who are already well aware of the market.
For starters, it does not deserve!
In conventional business / real sector business, it's normal and usually gain about 10% - 30% per month of the amount of capital. Thus, if we assume trading like a conventional business, then our fair profit target of about 10% - 40% per month as well Take the example of 40% per month. That is the trading time of 20 days within 1 month, if we divide evenly, then the target of 40% of this can we achieve by way of targeting 2% per day.
I'm sure this is very easy to achieve. The difficult part is to resist the ego to achieve more.
So, if we agree and have the intention of self-only reach 2% per day, so if we just $ 200 capital, our target is only $ 4 / day.
What can be achieved? Highly can !!
But the result of $ 4 / day was very small? If you seriously want to make the trade, business, capital prepare seriously!
What if the loss, even though the money for daily living expenses? That is why we have to separate the family finances with trading the financial, family finances with business finances! Trading your money that really you are prepared to do business.
This is my suggestion; if you consider this forex trading, prepare your capital seriously. Prepare a larger capital, so that when the target was reasonable and small, the results are still enough to finance your life.
But if you consider this trading is a game, regardless of the capital, regardless of the target, this is not a problem. But consider what would happen to you....
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Admin