Modest Goal?
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thread: Modest Goal?

  1. #1
    Junior Member beaasecass's Avatar
    13

    Modest Goal?

    Hello everybody,

    I was just thinking if this was a small goal or not. I want to bag 50 pips a day. I am just starting out and I truly do believe this is a small goal contemplating how many pips that the EUR/USD fluxuates daily.

    I believe it is actually important to have targets and what not, but it is just as important to have realistic objectives. So maybe a more realistic goal is, Make consistent profitable trades. This sounds more realistic to me personally, but what do you guys think? What goals did you set when you first started?

    That I want to thank all of you that responded to my first thread, Lost, I am really great full to all of you along with your service. The service you guys are given me is priceless and I hope to repay the community with my aid, once I become a creditable source! ^^;

  2. #2
    Senior Member layunny's Avatar
    195
    Hello everybody,

    I was just thinking if that was a modest goal or not. I would like to bag 50 pips a day. I am just starting out and I really do think this is a modest goal considering how many pips that the EUR/USD fluxuates daily.

    I think it is actually very important to have targets and what not, but it is at least as important to have realistic objectives. So a more realistic goal would be, Make constant profitable trades. This seems more realistic to me personally, but what do you guys think? What goals did you set when you started?

    That I want to thank all of you that replied to my first ribbon, Lost, I am really great filled with all of you along with your support. The support you men are awarded me is priceless and that I hope to settle the community together with my support, once I become a creditable source! ^^;
    No. That's not realistic.

    Given your experience, I would say 50 pips a MONTH will be a stretch.

    Don't fret though! In about 1-2 years it may be possible to accomplish exactly what you are discussing...

  3. #3
    Junior Member Alvaro207's Avatar
    24
    Yeah, that is what I believed. I was starting to question my very first goal of this 50 pip target and what not. Truly it was just an arbitrary number, and what good does that do me?

    I only be centered on making great trades and creating a sound money management system. That what seems to be there, yes?

  4. #4
    Junior Member paulcast8's Avatar
    16
    As you are green, I'd suggest attempting to make a profit everyday . As soon as you've achieved that, gradually start setting goals. Just like 10 pips per day increase. =)

  5. #5
    As you're green, I'd suggest attempting to generate a profit regular first. Once you've attained that begin setting goals. Just like 10 pips per day increase. =-RRB-
    Expecting to generate a profit every day is, for most traders, and especially novices, an unrealistic expectation. In my opinion novices will need to forget that the words daily and per day and focus on longer term charts of 4 hours above and take gun shots in only the very best trade setups. Even if this results in only a couple of trades per month for any particular currency, the odds of success are much higher.

    Dial

  6. #6
    Hello everybody,

    I was just thinking if that was a modest goal or not. I would like to bag 50 pips each day. I am just starting out and I really do believe this is a modest goal contemplating how many pips the EUR/USD fluxuates daily.

    I think it is actually very important to have goals and what not, but it is just as important to have realistic objectives. So perhaps a more realistic goal would be, Make consistent profitable trades. This sounds more realistic to me personally, but what exactly do you guys think? What goals did you set when you started?

    That I wish to thank all of you that replied to my first thread, Lost, I am really great filled with all of you and your service. The service you men are awarded me is priceless and that I hope to settle the community together with my service, once I become a creditable source! ^^;
    I typical 1000 pips a month at least.

    So that is a mean of 50 pips each day.

    SO yes it is extremely possible.

    My advice is, dont look at one a daily basis. Make the time frame more transparent and average it out over time. By way of instance, as I stated I aim for 1000 pips a month, instead of 50 pips each day.

    Its just that you need to make your system compatible with making that many pips. I've got a system which overlaps trades (3 transactions on the one place, so I make 3 times the pips)

    But I cannot achieve this without really sound money management attorneys in place

    However, as you're just beginning, I would take the advice of simply concentrating on making good trades first, and sound money management - trying to figure out the market and getting a feel for it is also significant - then you are likely to start thinking about goals.

    I hope this will help you, fantastic luck in the future.


    Cheers

    Rusty

  7. #7
    Junior Member pabloglwzf's Avatar
    15
    According to my personal experience I can say that 1000 pips per month is quite possible but not initially.

    First objective of a newbie should be to save his capital bcoz it's more difficult.Once capital is saved, it is going to begin growing.

  8. #8
    Junior Member carmenbervaz's Avatar
    20
    Hello everybody,

    I was just thinking if this was a modest target or not. I would like to bag 50 pips a day. I am just starting out and I really do believe this is a modest goal contemplating how many pips that the EUR/USD fluxuates a day.

    I believe it is really important to have goals and what not, but it is at least as important to have realistic objectives. So a more realistic target would be, Make constant profitable trades. That sounds more realistic to me, but what exactly do you guys think? When you first started, what goals did you set?

    That I want to thank you all that responded to my initial thread, Lost, I am really great full to all of you along with your service. The service you men are awarded me is priceless and that I hope to repay the community together with my service, once I turned into a creditable source! ^^;
    Honestly I think that a beginner should not be focusing on the amount of pips that he scores. lt;? Xml:namespace prefix = o ns = urn:schemas-microsoft-comfficeffice /gt;lt;ogt;lt;/ogt;

    Sound capital management allied to constant pursuit for learning more about the market and the fundamentals of trading is the best way to go originally. Then just try to be more times right than wrong without being too cocky and greedy. I'm sure in no time you'll be bagging 1000 pips per month, just don't burn stages and keep in mind that 90 percent of those people loose their money because they believe they are at the top of the match, right?lt;ogt;lt;/ogt;

  9. #9
    Senior Member Bio318's Avatar
    115
    Expecting to make a profit daily is, for many traders, and especially novices, an unrealistic expectation. In my opinion novices will need to overlook the words daily and daily and focus on longer term charts of 4 hours above and take gun shots in just the best trade setups. Even if this results in just one or two trades per month for any given currency, the chances of success are higher.

    Dial
    This is the reason why so many new traders fail also. They can't just sit and await the best setups. They are so attracted to the shorter timeframe charts also.
    When I started, my goal was to create more than I lost. I didn't set a certain amount of pips which has been a target. I think about it . That isn't a good way to do it, that is for certain. I'd lose 1 trade and be down 40 pips then think, man I gotta get that back. Therefore, I would look for one more trade and finally convince my self it was a good setup and choose the transaction to be down 40 additional pips. Afterward, I'd be down 80 pips and believe guy I gotId twice in my place size to make that up. Lose another one at a 40 pip SL and since it had been doubled, it would amount to 80 pips. Then when the emotions take over, that is extremely scarey to think about.

  10. #10
    Junior Member Sandeloxtei's Avatar
    25
    50 pips is an achievable goal but a little high for a novice. Like most people said, set your goal on a higher timeframe. (100 pips a month including )
    I've been trading forex for a year but also have exchanged shares for many years.
    My current goal for forex would be to make making 100 pips a week. (I expect to be there at the end of this year)
    that I think that the best approach is to go for large percentage transactions. After you get good at this, you can construct your account quicker. If you can save up to finance an account with a good funds to begin, you may then trade multiple lots for every premium excellent trade. That way you may look for smaller profit goals (as much as pips go) but as your trading greater than 1 lot you're making more money. Overtrading can be a trader's worst enemy.

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