March 20, 2010 | In: Forex Trading Journal
My Forex Trading Goal
I already have a trading goal. But just to make it official, I’ll write it on this journal so I can comeback later and see my progress. This year 2010, my goal is to reach $5000 per month in profits in forex trading.
Main Goal for 2010
$5,000 profit per month in forex trading.
By the end of 2010 I should be earning at least $5,000 per month. Breaking it down to days $5,000 / 20 = $250. That is $250 per day.
How To Reach Goal
- I’ll be patient.
- Trade only on longer charts. Daily / Weekly. I’ve had very bad experience with day trading but have great success with daily and weekly, so I’ll stick with daily and weekly for now until I’m familiar with day trading on demo account.
- Follow the trend.
- Follow my system.
- Remind myself to refrain from overtrading.
My ultimate goal is to earn my first million dollar with forex. But it will take a while I know. Just keeping a more reachable goal for now based on my experience.
5 Responses to My Forex Trading Goal
Optimalist
April 13th, 2010 at 9:26 am
Any updates? I’ve been meaning to get on the market and I just started my demo account today. I’ll get the feel of the markets first. Are you on moneyforex?
Jeff
April 28th, 2010 at 3:08 pm
I’m just breaking even. My emotions keep getting the best of me. Maybe its because of the heat… I don’t know.. I’m sitting this one out for a week or so and trade lower volumes for now. Just to practice to trade without emotions (fear and greed).
jayl
May 24th, 2010 at 5:31 pm
Hi there. I have been visiting your blog once these past few week. Im very much interested in venturing into Forex. Im on the early phase of babypips.. I just hope you could update this if you have enough time.
one quick question though, how much initial investment you would advise a newbie?
looking forward with your reply and other updates.
thanks,
jayl
Jeff
June 21st, 2010 at 11:54 am
Hi Jayl,
Thank you for visiting my site. I’ve been busy for a couple of weeks because of my other business. For starters, try to trade with at least $1000 capital and trade only 1% - 3% for every trade. That way, you’ll be able to learn real trading without much risk. The emotions are still there because you’re trading real money. But its all part of learning and you won’t drain your funds as quickly.
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August 22nd, 2010 at 10:18 am
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