Many beginners' forex trading goals is out of line with reality. They want to make a quick buck and try to challenge the realistic profit targets of the professional Forex trader.
They have ignored the forex risk management!
So what are realistic goals for a professional forex trader? Generally, he can average 1% a month or 15% a year.
Eh? What did you say?
Let me say it again. A successful forex trader set a yearly goal of about 15%.
Remember that a professional forex trader's primary goal is avoiding losing money in forex.
How to achieve your forex trading goals?
First, you should write it into the forex trading business plan. Many beginners only care for nothing but money. They just hoped the money is the more the better, so they never knew how much his currency trading plan was making or losing.
Second, you should open a demo account and test your forex trading strategy. If you don't do this, you will lose a lot of money in currency market. Well, you are getting father away from the goals.
Third, only you have established your foreign currency trading systems, you can switch to a micro forex account.
Now I think you are used to trade forex well with a small trading account.
Fourth, don't forget to keep a forex trading journal excel spreadsheet. It can help you track, measure and improve your trading performance.
Fifth, If you want to forex trading for a living, you should open a standard account.
At last, you have got to have a more serious attitude in foreign market. Just as Jesse Livermore said, trading is a business and run it on business principles.
More reading: Think You Could Be A Professional Gambler? Here's What It's Actually Like
They have ignored the forex risk management!
So what are realistic goals for a professional forex trader? Generally, he can average 1% a month or 15% a year.
Eh? What did you say?
Let me say it again. A successful forex trader set a yearly goal of about 15%.
Remember that a professional forex trader's primary goal is avoiding losing money in forex.
How to achieve your forex trading goals?
First, you should write it into the forex trading business plan. Many beginners only care for nothing but money. They just hoped the money is the more the better, so they never knew how much his currency trading plan was making or losing.
Second, you should open a demo account and test your forex trading strategy. If you don't do this, you will lose a lot of money in currency market. Well, you are getting father away from the goals.
Third, only you have established your foreign currency trading systems, you can switch to a micro forex account.
Now I think you are used to trade forex well with a small trading account.
Fourth, don't forget to keep a forex trading journal excel spreadsheet. It can help you track, measure and improve your trading performance.
Fifth, If you want to forex trading for a living, you should open a standard account.
At last, you have got to have a more serious attitude in foreign market. Just as Jesse Livermore said, trading is a business and run it on business principles.
More reading: Think You Could Be A Professional Gambler? Here's What It's Actually Like
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