How to Determine the Target Profit in Forex Trading
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The business is on the very liquid market like foreign exchange markets and gives us the opportunity to make as much profit as possible. In one day we can have a 100% profit even more than our merchant's remour. This condition is really tempting and tempting traders, especially newcomers, to achieve a profit goal that is sometimes too big.
Knowingly or unknowingly, the purpose of the profit that exists in the minds of our heads can affect whether or not trading successfully. Therefore, we have to prepare it so that the goal, not to mention mere dreams, is in fact able to do so.
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How to Determine the Target Profit - Market Forex Tips This time is how to set a realistic profit goal. I do not want to do business, but our action again corrects the target for profit that we have set for the goal of daily or monthly targets. Because according to my observation, the size of this profit target largely determines the behaviour of our trade. The larger the target, the greater the mental pressure to seize. It's like we failed if we couldn't catch him. Although on the other hand, the great goal can make us more cautious.
The problem is when the target is huge, but we don't have the ability to seize it. This is, as a beginner who does not yet have a precise analysis capability and has no strong money management, it's not a very big profit target. Because when you lose that deal, we'll get away from the target. This, making our business a mental breakdown, all roads become dead ends.
So how big is the reasonable goal?
There are some of us setting the target of $50 per day. Is that permissible? Of course. But what if it's worth when setting targets for $50 a day while the capital is only $100?
Deserve! But for the main trader who is already well known about the market.
For starters, it's not worth it!
In the traditional business/real business sector, the profit is usually about 10%-30% per month of the amount of capital. So, if we consider traditional business like trade, then of course our goal is to profit from about 10%-40% per month as well. Take for example 40% per month. This means that with the passage of 20 days of trading in one month, if we divide on average, then the target of 40% this can be achieved by targeting 2% every day.
I'm sure it's pretty easy to bring. Hard is to restrain the ego to grab me over it.
So, if we agree and target yourself just grab 2% per day, so if our capital is only $200, our goals are only $4 a day.
What can be achieved? Very capable!
But the results of $4/day which is too small? If you want to seriously make business of it, prepare your business capital with a very serious!
What if the loss, even though the money is for daily living expenses? That's why we have to separate the family's financial finance from financial trade, with families with financial business! The money that you really prepare for doing business.
Advice, if you consider this trade, prepare your capital very seriously. Larger capital numbers, so when the goal is reasonable and it's small, the result is still enough to finance your life.
But if you consider trading in this game, regardless of its capital, no matter what the goal is, this is not a problem. But notice what will befall you....
Deserve! But for the main trader who is already well known about the market.
For starters, it's not worth it!
In the traditional business/real business sector, the profit is usually about 10%-30% per month of the amount of capital. So, if we consider traditional business like trade, then of course our goal is to profit from about 10%-40% per month as well. Take for example 40% per month. This means that with the passage of 20 days of trading in one month, if we divide on average, then the target of 40% this can be achieved by targeting 2% every day.
I'm sure it's pretty easy to bring. Hard is to restrain the ego to grab me over it.
So, if we agree and target yourself just grab 2% per day, so if our capital is only $200, our goals are only $4 a day.
What can be achieved? Very capable!
But the results of $4/day which is too small? If you want to seriously make business of it, prepare your business capital with a very serious!
What if the loss, even though the money is for daily living expenses? That's why we have to separate the family's financial finance from financial trade, with families with financial business! The money that you really prepare for doing business.
Advice, if you consider this trade, prepare your capital very seriously. Larger capital numbers, so when the goal is reasonable and it's small, the result is still enough to finance your life.
But if you consider trading in this game, regardless of its capital, no matter what the goal is, this is not a problem. But notice what will befall you....