Day trading profit goals for beginners

Why do 90% of day traders lose money? I think they don't set realistic day trading profit goals.

Beginners always thought they can make day trading for a living. The end result was that they lost his life savings. 

Generally, a professional day trader sets day trading profit goals of about 10 percent a year. This means that he can do about 1 percent a month and risk about 2 percent.

I'm sorry, I know you're surprised to hear from it. 

Why do I set a lower monthly day trading target?

First, I will ask myself: why did I come to day trading markets? Why did I start my day trading business? It is obvious that I would rather challenge myself and do it better than make some quick money. 

Second, I should avoid day trading mistakes and a big trading loss. I think it can help me go further in my day trading career.

Third, Jesse Livermore said in his "how to trade in stocks" that trading is a business and run it on principles. Therefore, I believe day trading is a business and must be approached with a serious attitude.

How to Get a 100% Monthly Return Day Trading?

First of all, I think it is not realistic day trading profit goals.

Second, if you are likely to make a continuous profit from day trading, you must lower down the goals to get the lower goal first.

Third, some top professional traders think average 10% a month is good enough. I will have you notice that they are best day traders!

What day trading goals have you set for yourself?

First, if you are a beginner, you must set a lower monthly target. Generally, 0.5% is realistic.

Second, if you are a part-time day trader, your monthly target is 1%, while risk about 2% is good enough.

Third, if you are going to day trading for a living, you have to look for an average of 2% a month is excellent performance.

How are you planning to achieve day trading goals?

I think my first priority is to control risk in day trading. Once I overlook this important goal, I am about to take on excessive risk. 

Second, I will build a day trading plan, a day trading checklist and keep a day trading journal excel spreadsheet. I think they are the 3 essential trading tools all must have.

Third, I will open a demo account and test my day trading strategy. If I have never started my paper trading, I will can't track, measure my trading performance.

More reading: Key Habits For Traders In 2018 – How To Become The Best Trader Possible

Forex trading goals for a successful trader

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