intraday trader discussion

Quoting actorial

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hi everyone, im kinda new in forex trading as i only started studying it november last year. i like to ask all intraday trader here some discipline questions and hope you guys can help me out by giving me some comments. im looking forward to be a full-time trader.

Full time trading is very boring, unless you can tahan the isolation.


1) i had a fixed 10% profit target of my account everyday and stop for the day once the target is hit. not trading at all. <== is this good enough as a intraday trader? (example: monday 10$-11$ tuesday 11$-12.10$ wed 12.10$-13.30$ .............) in a compiled interest kind of earning method.

This is targeting on hind sight. Aim for fixed pips using a consistent leverage then see the number of pips/trades required. Test around different variations and settle for the one that you are comfortable with.

2) do you guys have a target of losses each day too? example like "if i lost 20% of my account today im out of the market" kinda money management?

Depends, if tragic occurs near the end of my trading day, then yes, taking the rest of the day off works for me. Otherwise, if there is sufficient time, a 1 or 2 hour break works for me.

3) intraday trader often trade in 1min - 15mins charts? or should be more flexible and look at more chart?

I use hourly and 5 min charts.

hope to recieve helps from you guys.

Cheers!!

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