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.
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.
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?
3) intraday trader often trade in 1min - 15mins charts? or should be more flexible and look at more chart?
hope to recieve helps from you guys.
Cheers!!
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.
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?
3) intraday trader often trade in 1min - 15mins charts? or should be more flexible and look at more chart?
hope to recieve helps from you guys.
Cheers!!