Just wondering how the more experienced traders plan out their targets when trading?
Do you aim to make a certain amount of pips per day/week, or do you aim for a certain profit per day/week instead?
I ask this because I am using a practice account, and just started dealing on it today. I have $5,000 in the account as that will probably be the amount I will start with when I do finally go 'live'.
I completed 3 deals over the space of half an hour, and finished $220 up. To me this is a good amount as I am not in Forex to get rich, I am in it to try and make a profit each day (and hell if I get good enough, make it my full time job).
Does anyone agree that a get rich quick mindset is a surefire way to die a very quick death with Forex?
So hat is your pips or dollars per day/week target? (Obviously the dollar value will depend on your capital and leverage and what not, but I would still like to get an idea.)
I would also love to know how many of you are making a good income from Forex, in the sense that you are profiting enough each week that it could be classed as enough to live off or what you would be making if you were working in your more traditional profession (or even if Forex IS your profession)
Do you aim to make a certain amount of pips per day/week, or do you aim for a certain profit per day/week instead?
I ask this because I am using a practice account, and just started dealing on it today. I have $5,000 in the account as that will probably be the amount I will start with when I do finally go 'live'.
I completed 3 deals over the space of half an hour, and finished $220 up. To me this is a good amount as I am not in Forex to get rich, I am in it to try and make a profit each day (and hell if I get good enough, make it my full time job).
Does anyone agree that a get rich quick mindset is a surefire way to die a very quick death with Forex?
So hat is your pips or dollars per day/week target? (Obviously the dollar value will depend on your capital and leverage and what not, but I would still like to get an idea.)
I would also love to know how many of you are making a good income from Forex, in the sense that you are profiting enough each week that it could be classed as enough to live off or what you would be making if you were working in your more traditional profession (or even if Forex IS your profession)