desired profit
- Thread starter OscarR
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Ha ha I would say most traders are preoccupied by that thought, which makes losses so hard to take. Probably a better approach is to set a monthly % profit objective (that allows for wins and losses). Even then you may have some losing months. The two common trading strategies at an individual order are to set take profit orders and have specific trade exit rules. As to how much it depends your trading style, risk management, account size and so on. Many just talk in pips.
Setting a desired profit is an essential aspect of any successful endeavor. Whether it's in business, investing, or personal goals, having a clear profit target provides focus and direction. Define your desired profit and establish realistic milestones to keep yourself motivated and accountable. Remember, it's important to strike a balance between ambition and feasibility. With a well-defined target, a strategic plan, and consistent effort, you're on your way to achieving the profit you desire. Stay determined and keep your eye on the prize!
It's an important question to consider when setting your goals and managing your trades. Setting a clear profit target helps you stay focused and disciplined throughout your trading journey.
Choosing a profit target is crucial for effective trading, managing the risk-reward ratio, and setting clear objectives. Considering market conditions, support, resistance, and price movement, a reasonable target is achieved.
exactly balancin losses and wins with a monthly % profit is a neat idea its all a learnin curve
Yea, we all once though about that even once. losses are always hard to take but it is important that to arrange and manage the next steps.
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yes well said, also Striking a balance between ambition and feasibility is important to ensure steady progress
may i ask you how you set your profit target? what do take into consideration while making your target?
I can't give you a fixed answer because I think there won't be one.
That's based on your experience and your skills, but if you are a beginner, just finishing a month in positive can be a great goal for you, and please do not believe people on the Internet; they say they are making 70% per month, and well, they are obviously saying bullshit.
Just focus on what you are doing and make yourself a better trader.
I think setting a profit target is a personal decision based on your trading goals, risk management, and trading strategy. It's important to consider a balance between achievable profit targets and realistic expectations.
As I am a scalper, I don’t desire for big earning at a time rather my profit earning is limited to $30 to $50 dollars.
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