Having targets is often underestimated in this game.. One should always have monthly targets set that they try to achieve. Once this target is reached, you will be in bonus round.. Seriously though, when you set targets, it provides extra motivation when trading to make pips and keep pips. When you reach your monthly goal, you should try not to get back below that level. It will help you control your emotions generally..
Here is a template spreadsheet where you can enter your targets and track your progress. It gives you monthly targets for 2 years based on your initial investment and target percentage profit. My target is 35% but you should adjust the target % to a realistic amount that you are certain YOU can achieve. I set it at 10% in the spreadsheet.. you can step it up when your trading improves.
Bless
Here is a template spreadsheet where you can enter your targets and track your progress. It gives you monthly targets for 2 years based on your initial investment and target percentage profit. My target is 35% but you should adjust the target % to a realistic amount that you are certain YOU can achieve. I set it at 10% in the spreadsheet.. you can step it up when your trading improves.
Bless
Attached File(s)
Forex Targets.xls
39 KB
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1,173 downloads
Patience + Discipline - Greed = Success