forex trading forum

I recently read a thread on a forex forum written by a new operator, offering traders with experience, if a daily profit target of 50-60 pips is or not.

Guess what?

Most experienced operator answers ask you to scratch the idea of having a daily profit target and I am one of them. You may be wondering why I suggested the new entrant to forget about the idea of having a daily profit target.

You need to understand that trade is different from a real job for which you will get a salary review at the end of each month. In forex, there are days you will not see any benefit at all, either because there is no configuration that allows you to enter a trade or you may have some losses on certain days. However, due to its consistency in the implementation of its trading plan and the percentage of victories that the plan may present to you, you will be able to have an income at the end of the month.

Does Imagining making a daily target of 50 pips but just lost a job. What would you do?

Undoubtedly enter another trade immediately without any analysis you want to make back the losses and, finally, that the target of 50 pips. This is known as emotional trading and this is exactly the key reason why most No merchants in this trade.

To end this article, just to let you know that there is no way you can reach your daily profit target in forex but definitely be able to make an income that can afford to live comfortably if you stay within your trading plan and trade always good value for risk reward.

Earning a living from forex trading is not a myth and it is definitely achievable.

If you are having difficulties in identifying good setup, you can visit Kelvin’s blog as he provides free forex trading signals to traders every week.

Find out how to draw trend line the correct way to avoid entering wrong trades.

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