Specific profit goal

[maxlvg]

A specific profit goal may be useful sometimes. We can exit our position anytime but if we set a limit for profit we can secure our profit. It may be limited but it will be secured. If we do not set a goal we may fall into our own greed trap where we would like to get a higher price but end up with a loss.

 

[Kevin Vogt]

Staying profitable consistently over a longer periods of time is the key. There have been traders who have lost their years of saving in a short streak of bad trading. Money management and psychology is the key to remain consistently profit over a long time.

Partial profit taking is great when you are a long-term trader and have a large profit goal. This means you are able to take a small profit from your trade. If you're trading for the short-term and your profit goal is 40 to 50 pips then taking a small profit is not a great option. It is better to learn to become better at trading. My opinion is only my own. Every trader should have their own style of trading.

 

[Oscar Shumack]

You can not tell anything fix in this market.

 

[FXOpen Trader]

You can not tell anything fix in this market.

When we are doing our trades in the Forex markets we will have to understand that the risks are present and how we are going to deal with them.

 

[Nayek Pichai]

Demo is an account funded with virtual cash given for practicing. Contrarily, live account is an account funded with real cash. Demo is used for practicing but live is used for earning.

 

[FXOpen Trader]

Demo is an account funded with virtual cash given for practicing. Contrarily, live account is an account funded with real cash. Demo is used for practicing but live is used for earning.

When we are making use of the Demo based trading accounts our learning will get increased.

 

[LouBega88]

Adapting to adverse situation is badly essential for a Forex trader as traders usually face such a scenario in the market. So trading environment plays a vital role for traders. If traders can do so, they can reap much gain from trading.

 

[Gito Dinev]

Sticking to trading plan in forex is really difficult because Forex is a dynamic market and it doesn’t move at one direction all the time.

 

[Ethan]

We do business to earn profit and it’s simple and straight cut. But the fact is that our risk management policy isn’t well-defined.