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Specific profit goal

Discussion in 'Beginners Forum' started by Anderson, Feb 7, 2020.

  1. Anderson

    Anderson

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    Making any specific profit goal for per day is not good. By doing this you are giving yourself challenge unconsciously. When you will fail to do so, your ego will get hurted. As a result you will make impulsive decision. Here is the difference between forex and other work.
     
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  3. Svetlana Loboda

    Svetlana Loboda

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    I have no certain trading goal since, Forex market is full of unpredictability! There is no guarantee; so I don’t see any logic behind a particular game plan!
     
  4. Mark Dahl

    Mark Dahl

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    I use 1:3 risk reward ratio. That means I set TP 3 time higher than my SL. Sometime I also use 1:4 which depend on market condition.
     
  5. Eduardo Lucchese

    Eduardo Lucchese

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    Making money is not an easy task at all in this risky market. If you can make a good plan you can make profits consistently from this risky market.
     
  6. Fx Master

    Fx Master

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    besides making profit there is only losses and fear. so we the traders have to make sure how to faces losses and control emotions. actually emotions is the foremost enemy in our life only not Forex trading all about life attitudes.
     
  7. Darragh Bell

    Darragh Bell

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    You need to make a plan to achieve your goals. Without a plan you can not make money from this risky market.
     
  8. Alicia Lynch

    Alicia Lynch

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    It is not possible to get rich in trading overnight. With patience, you have to move forward in trading with a long time target. And it is very important to maintain proper discipline. I open a 1: 2 risk-reward for each trade. And never more than 2% risk. So it is better to work according to the plan without rushing.
     
  9. Kazumu Fukunaga

    Kazumu Fukunaga

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    A goal is good but becoming desperate to achieve that goals in forex is dangerous. Market doesn't move same way every months. That's why for trading having is a long term goal is more convenient.