Discipline and stability is a must in FOREX Trading. If you don’t have any other source of income for yourself, don’t be so greedy and stop when you have hit your target. Don’t unnecessarily lose from your pocket.
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Right, and having a side job is not bad. One has to secure a constant income. Full time trading adds a pressure on a trader, I think.
It all depends upon the way your trades are going, you should not force any trade for the point of completing the time until you fall asleep. I have always been scared with the thought of being a full time trader, I do love a steady pay check from my job along with profits from trading.
If you make 2% a day you are probably the best trader in the world.
Besides from that, not all trading is day trading. I am a fulltime trader myself and I trade some days each month…
I personally do not trade till I sleep because it can be exhausting and trades can also go wrong. So, you should always try to trade in context to the market and not on time. Good luck!
The beauty of Forex Trading is set and forget, let the money roll by itself. While you have more time to do other stuff in life.
When you can achieve 1% per day, you will start thinking about obtaining 2%, when you can achieve 3% you will start yearning for 5%, and so on. One day, you may get lucky and obtain say 20% in a day. From then onwards, i’m 100% sure that you will have total disregard for BANKROLL MANAGEMENT. Saying more is useless, you need to walk the path and experience it for yourself to see the TRUTH.
Most important thing in trading is not about achieving 1% or 20%. It is about how much you PLAN to risk per trade or how much risk you can reasonable take.
As a trader ,you must always be prudent. You must constantly ask yourself one question for every trade you take on. " If this trade hit my actual stop loss or mental stop, what is the percentage of DENT in my equity capital? "
You should set a goal in forex trading so that you have a target to achieve and you can use your strategies accordingly, without that it’s just baseless.
There is no point in forcing trades after you’ve hit the daily target. Greed can make you lose more than you made. So don’t be adamant about trading till you don’t sleep.
I agree, you need to stick to the rules but you can’t be 100% sure of making money everyday since forex market is fluctuating. Follow your plans as it maintains stability
Honestly, i don’t leave any trades open before sleeping. And also i feel you should look to diversify your source of income.
There’s never a set target to trade, however you should never risk 1-2% on your single trade. Keep that in mind.
i dont know about others,but i risk 3 percent of my account per trade,i also never know how many trades ill have today,it varies ,sometime is 3,sometime 4 or even 5. I trade only very liquid pairs,those pairs include USD,so all USD pairs i trade. Today for exemple i got 5 trades,4 of them in profit, 1 in loss. I aim at least 10 percent of my account per day,i personally consider that ok,and i also withdraw every day 
I started as a part-time trader while doing my 9-5 job. But as I started to make profits in the market, I decided to get into it full-time. The beginning was tough because it didn’t happen like I planned. But later, it was all good and since then, I have been having a great time trading forex
It is quite a debatable topic and the choice would vary from one trader to another. I am a full time trader myself , and I NEVER force trade. I do my share of trading, may be set some limit orders and then take myself off the computer screen, of course, if there is some sudden impactful announcement, I make some changes here and there. But, I never over trade and so far is has worked for me.I personally plan my strategy and set goals so that I don’t overtrade or lose more than anticipated. You should set a percentage of how much you are willing to lose if need be. Also, be consistent with your plans and strategies that will make a lot of difference.
Yes, exactly do not stick on your screen 24*5, you need to understand the market and trade with the market trend.
I do not push myself to sleep, I try to make my trades after considerable analysis of the market conditions and my intuition. I also do not stop, if my target of 3% is achieved. If I feel that certain trades can earn me more, I stick to them, even when my target is achieved.
I do not push myself to sleep, I try to make my trades after considerable analysis of the market conditions and my intution. I also do not stop, if my target of 3% is achieved. If I feel that certain trades can earn me more, I stick to them, even when my target is achieved.
Those returns are awesome! Which broker do you use?
It is very important to set an upper limit target as it will stop you from overtrading. You can set your daily or mothly target which can be 1%-3% and once you achieve it you should stop trading. You should be consistent and stick to the plan always. At the same time, you should know that you won’t make profits everyday, so be prepared for that too and do not let your emotions overpower your judgement.