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.
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- Mar 18, 2007 3:24pm Mar 18, 2007 3:24pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
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- Sep 22, 2007 5:48am Sep 22, 2007 5:48am
- Joined Jul 2007 | Status: Trader | 1,685 Posts
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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
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