Hi traders,
Forex in my thought is should treat as a serious business, we must create a plan, select a reliable partner (i.e Broker), have a good strategy,
and it should be specific, measurable, achievable, reliable and as you know..time bound. --> S.M.A.R.T.
for example,
start balance : US$ 500,
start trading on 3 Aug,
daily profit : 5%
Max. Lot per trade : 0.05
-----------------------------------
Target balance : US$ 100.00
will be achieve on 109 days.
THE BIG OBSTACLE IS :
WHAT IS THE TRADING STRATEGY WE WILL USE TO BE ABLE REACH 5% PROFIT PER DAY , CONSISTENTLY..?
Well, I don't know ..and that is not the reason I post in this forum.
it can may different strategy for each trader to reach 5% profit per day.
but at least keep in mind we have to settle those things first, start balance, target profit per day and target balance..so we can review our strategy...
and its possible to have 5% per day, I did.
Focus only 1 currency, I focus only (mostly) for GBPUSD, cable.
THE OTHER OBSTACLE IS :
RESIST A TEMPTATION TO CUT LOSS OR HOLD PROFIT. ALSO DISCIPLINE TO FOLLOW THE PLAN..
..AND KEEP AWARE ALL THE TIME AND NOT SIMPLIFY THE MARKET.
Forex in my thought is should treat as a serious business, we must create a plan, select a reliable partner (i.e Broker), have a good strategy,
and it should be specific, measurable, achievable, reliable and as you know..time bound. --> S.M.A.R.T.
for example,
start balance : US$ 500,
start trading on 3 Aug,
daily profit : 5%
Max. Lot per trade : 0.05
-----------------------------------
Target balance : US$ 100.00
will be achieve on 109 days.
THE BIG OBSTACLE IS :
WHAT IS THE TRADING STRATEGY WE WILL USE TO BE ABLE REACH 5% PROFIT PER DAY , CONSISTENTLY..?
Well, I don't know ..and that is not the reason I post in this forum.
it can may different strategy for each trader to reach 5% profit per day.
but at least keep in mind we have to settle those things first, start balance, target profit per day and target balance..so we can review our strategy...
and its possible to have 5% per day, I did.
Focus only 1 currency, I focus only (mostly) for GBPUSD, cable.
THE OTHER OBSTACLE IS :
RESIST A TEMPTATION TO CUT LOSS OR HOLD PROFIT. ALSO DISCIPLINE TO FOLLOW THE PLAN..
..AND KEEP AWARE ALL THE TIME AND NOT SIMPLIFY THE MARKET.
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DreamCatcher.xlsx
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Revenge of Scalper