I have never risk a lot for my trading so never earn such big amount in a day. It is not my style to earn more and more and risk more and more.
having a set amount is not achievable. what you want to do is say how can i make 5 pips a day or something like that. you can achieve a money target but you need to change your mind set first
Go on you tube by books and learn the skill. Try naked trader first and see what you have got in front of you buddy. Who are you trading with and what platform you using.?
Not bad. Try make a 400 per day, than 200 was to you easier
$200 a day sounds good. But it isn’t if you continually withdraw $1000 a week to pay your bills and food etc. That way you’ll always have just enough money, and your account will be the same size when you die as when you opened it.
The point of trading is to make money for yourself, not just make enough money to pass on to the electricity company and the supermarket.
A few steps in order not to lose money on Forex (now more important for you than making money):
- Do not trust a broker (a good broker today, this does not mean a good broker tomorrow).
- Do not use indicators (this cannot be the basis for the trading system)
- Do not use old information in its pure form (the market changes daily; what works today may not work tomorrow).
- Do not buy wonderful trading robots (even the best robot must be manually configured. The best robots are not available for sale).
- Do not buy training (99% of the information does not work in the long run. It may be interesting, but no more).
- Do not use your family’s last money or money (your hobbies and expenses should not concern your loved ones).
A few steps to earn $ 200 + … per day.
- Use a bare schedule. All you need is a price.
- Trading during the day, all transactions at the end of the day should be closed. Your terminal will be clean, your sleep will be sound.
- Overloading prices daily. The new day will be different from the previous one, and that’s good.
- Where should I trade? You need to open the H1 chart and mark all the peaks and troughs on the chart. Price always gives a reaction in these areas (continued movement or reverse movement)
- How to make a deal? When the price reaches your zone, you need to open a smaller timeframe, for example, m1 or m5, and find a sample to buy or sell. Small timeframes to make SL small.
- What is a template? These are clusters of candles on the chart. What does the template look like and how to find it? You should carefully analyze the areas where any price movement begins, on the time frame m1, m5 … Thus, you will find your pattern in this area by statistics.
- When you receive your pattern, you need to manually analyze the currency chart for several months.
- All you need is the final statistics, which will tell you about the perspective of your pattern. Use 1 currency pair.
Look at my picture.