Do you have a goal for the next six months?

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
18
32
Canada
I am asking out of curiosity as I have met several traders who set monthly, quarterly or annual targets and since the financial news were filled with talk about the end of the second-quarter and first-half of the year plus all the predictions and expectations for the second-half of the year I was wondering if anyone here in this forum has a specific goal?

I think annual performance targets are more for professional portfolio managers as they need to communicate with their clients, but I see nothing wrong with individual traders setting a target. I plan to keep doing what I have been doing so far as I am satisfied with my results and target 5% per month for myself.
 

Master Forex IB

Active Trader
May 23, 2013
174
1
27
Yes my goal is to buy signals from a good signal providing company . Iheard that they are good for making pips. I will try for one month . Mostly I rely on just my own trading I want some change to see either this type of things work or not . Hope best for future.
 

Emibluz

Banned
Aug 22, 2013
165
0
27
Surely I do, I think every trader should else he is throwing his money to the winds. Focus is the most important strategy, you must have a target else you can't measure your progress...you would end up enjoying your losses in ignorance. I plan towards trying a new signal soon, also investigating the strength and transparency of some trading robots.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
3
49
Of course, having a goal is important for any trader..as for me, I usually set one up for the month or week, but that's about it.
 

JoshEvansFX

Newbie
Jul 7, 2021
15
1
1
28
Personally I don't set a target - it leads to over trading and making bad decisions. I take what I can get at the end of the month.
 

{0v0}

Trader
Dec 12, 2016
16
5
19
EU
Setting some kind of goal target is good practice since it focuses one's attention on overall profitability and not just the current trade. But it can also be problematic if it is not being achieved and creates pressure to trade even when there is no sensible trade to take. Under-performance can also encourage revenge trading whenever a loss is made in an attempt to make the money back.

So I would suggest a target that is realistically achievable but without undue pressure to perform. And, of course, one should always remain aware that the market is king and we can only make what the market gives us. Sometimes we can do better and sometimes worse than our targets, depending on what the markets are doing. So a target should be flexible and only a guide rather than a necessity.
 
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