Hi I will be trading various systems and I want to make a Journal of my trades to help me develop into a better trader. My goal is 200 pips a week and I will try reach this goal weekly with a mixture of methods.
- | Joined May 2006 | Status: Member | 381 Posts
200 pips/ week is very achievable...
Everyone has losing weeks...doesn't mean that you can't make a couple of hundred pip profits overtime.
Everyone has losing weeks...doesn't mean that you can't make a couple of hundred pip profits overtime.
- | Joined Oct 2006 | Status: Member | 117 Posts
While I understand goals are beneficial, I don't see pip goals are something that helps anyone.
I trade what I see as a good probability setup, no more, no less.
If I was trading for a goal I'd likely overtrade, and I think goals on pip counts create that kind of environment for new traders.
Not saying that goals in forex are bad in general, perhaps the goals should just be focused elsewhere.... like 'I will read two books on money management this week', or 'I will read the entire james16 chart thread this month'
Just my $0.02
I trade what I see as a good probability setup, no more, no less.
If I was trading for a goal I'd likely overtrade, and I think goals on pip counts create that kind of environment for new traders.
Not saying that goals in forex are bad in general, perhaps the goals should just be focused elsewhere.... like 'I will read two books on money management this week', or 'I will read the entire james16 chart thread this month'
Just my $0.02
To be one with the market, you must first be one with yourself.