How to make realistic target and how to improve it?
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Thread: How to make realistic target and how to improve it?

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    How to make realistic target and how to improve it?

    I think all traders are agree with me that making target (goal setting) is important in trading, including short-term target, medium-term or long-term target. Every trader has his own view about making this target in trading. Usually, our daily target or weekly target or monthly target will be affected with our style of trading. And our improvement in skill of trading can increase the target too. I want to know about how to make realistic target in your mind and how to improve it? What is the sign that we must improve the target or not?

    If me, I make target which is easy to realize and because I am daily trader so I made target 30-70 pips as daily target to reach. I think it is realistic for me to make it happen, and I am still trying to keep consistency this target. And how to improve, I will make evaluation in each 3 months to know my performance. If I can keep consistency in 3 months a row, so it is time to improve the target to the next step. How about you?

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    It is not easy to make a good exit in the market. Many forex traders are looking for the best way to have their entering, but I am looking better way to have my own exit, but this is a matter of luck in function at times, that is my conclusion. You cannot have a perfect target, but candlesticks chart might help you to place it reasonably.

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    because i am a scalper, then i just need several pips only per trades and it is so realistic for me, because it was easier touched by the market price and can reduce the risk and my worry, so i can control the emotion
    and to protect my balance , sometimes i use cut loss, stop loss and also hedging, they are very important and a need for me

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    I basically try to focus on long term target and like to evaluate my trading performance after one month of my trading. I think its very important to set an objective and we have to do trading to that. I think weekly target evaluation will be best for scalper but as you are saying that only one trade is enough for you so its depend upon our target too

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    Registered user Hukam's Avatar
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    Good thread mate actually I always do trade with long term goal and I like to hold my trades for long time too. I always check my trading result after one month I never worry about my trading result because in average I always make good profit. So first of all its very important to know that your trading system working properly or not and after that you can set your goal

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    when we enter in a trade then we create our stop loss and take profit . in my experience if we are not sticktly fallow tha our trade set up we lose our money and if we are stricktly fallow our stop loss and take profit we make a good profit . i am use mostly daily time frame to enter any trade daily time frame give us good oppertunity to make a good profit .

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    Quote Originally Posted by silverlady View Post
    It is not easy to make a good exit in the market. Many forex traders are looking for the best way to have their entering, but I am looking better way to have my own exit, but this is a matter of luck in function at times, that is my conclusion. You cannot have a perfect target, but candlesticks chart might help you to place it reasonably.
    Wow, that's good. Many traders didn't realize the importance to close position in the right time. It is important to know when is time to start and exit from the market so we can maximize condition to gain more profits than losses. It is good, how about your target? Do you have daily target, weekly target and monthly target to reach?

    Quote Originally Posted by newentry View Post
    because i am a scalper, then i just need several pips only per trades and it is so realistic for me, because it was easier touched by the market price and can reduce the risk and my worry, so i can control the emotion
    and to protect my balance , sometimes i use cut loss, stop loss and also hedging, they are very important and a need for me
    Wow, that was good emotion control because scalping is not easy method for me. I need to make quick and accurate decision so it will need better psychology control for me, I don't think it is easy to do that. How about your target to get in each day with scalping, do you have limit for numbers of pips to gain or maybe number of transactions to do in a day?

    Quote Originally Posted by Khimi234 View Post
    I basically try to focus on long term target and like to evaluate my trading performance after one month of my trading. I think its very important to set an objective and we have to do trading to that. I think weekly target evaluation will be best for scalper but as you are saying that only one trade is enough for you so its depend upon our target too
    That was good to make evaluation with our current performance. You're long-term traders and you made monthly evaluation, what do you do if you don't reach your monthly target? How about if you can reach it, what is your consideration to use new target or not?

    Quote Originally Posted by Hukam View Post
    Good thread mate actually I always do trade with long term goal and I like to hold my trades for long time too. I always check my trading result after one month I never worry about my trading result because in average I always make good profit. So first of all its very important to know that your trading system working properly or not and after that you can set your goal
    Thanks friend. Yes, it is important to create proper trading plan for us so we can realize our target/goal easier. If you don't mind, what is your monthly goal/target in trading so you never worry with your result of trading? How can you make it happen because for me, it is not easy to realize my target and keep it consistent.

    Quote Originally Posted by zulfiqar iqbal khan View Post
    when we enter in a trade then we create our stop loss and take profit . in my experience if we are not sticktly fallow tha our trade set up we lose our money and if we are stricktly fallow our stop loss and take profit we make a good profit . i am use mostly daily time frame to enter any trade daily time frame give us good oppertunity to make a good profit .
    So, you only used daily time frame in consideration for making analysis. What kind of strategy do you use for trading if you don't mind to share with me? And you always used Stop Loss and Take Profit right? Can you tell me about setting for it (SL and TP) and why do you set it like that? Thanks...

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    Quote Originally Posted by andry777 View Post
    Wow, that was good emotion control because scalping is not easy method for me. I need to make quick and accurate decision so it will need better psychology control for me, I don't think it is easy to do that. How about your target to get in each day with scalping, do you have limit for numbers of pips to gain or maybe number of transactions to do in a day
    ..
    everyone have their own way for trading, maybe scalping is not suit for you but you have a good thing that will not work well for me, so i guess there is no problem for it and as long as we understand for what we have to do, and also discipline and patience is a must for everyone at this business, then we can enter the market at the right moment

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    Registered user Hukam's Avatar
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    Quote Originally Posted by andry777 View Post
    Wow, that's good. Many traders didn't realize the importance to close position in the right time. It is important to know when is time to start and exit from the market so we can maximize condition to gain more profits than losses. It is good, how about your target? Do you have daily target, weekly target and monthly target to reach?



    Wow, that was good emotion control because scalping is not easy method for me. I need to make quick and accurate decision so it will need better psychology control for me, I don't think it is easy to do that. How about your target to get in each day with scalping, do you have limit for numbers of pips to gain or maybe number of transactions to do in a day?



    That was good to make evaluation with our current performance. You're long-term traders and you made monthly evaluation, what do you do if you don't reach your monthly target? How about if you can reach it, what is your consideration to use new target or not?



    Thanks friend. Yes, it is important to create proper trading plan for us so we can realize our target/goal easier. If you don't mind, what is your monthly goal/target in trading so you never worry with your result of trading? How can you make it happen because for me, it is not easy to realize my target and keep it consistent.



    So, you only used daily time frame in consideration for making analysis. What kind of strategy do you use for trading if you don't mind to share with me? And you always used Stop Loss and Take Profit right? Can you tell me about setting for it (SL and TP) and why do you set it like that? Thanks...
    Mate forex trading is all about trading experience I will say yes I am making consistent profit every month, the main thing is to choose a better trading system for you first and do trade with a good commitment and determination in forex, we don't have to use any high risk in trading don't breach any forex trading rule while trading hope it will be helpful for you

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    Yes making targets is an important thing while trading. But what happens many times is even after we have set targets we ignore them at the time of trading. This is what is called the interference of emotions. We have always to insist on trading with planning and stick to them and not trade with emotions.

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