What's your trading goal for this year?

Beginner Questions
61

Hi, your example is one of many ways which you can use for diversification. Regards Greg

62

My trading goal this year is to finish the BabyPips school of Pipsology course. I started two years ago and kinda ran away, I’m back this time with renewed passion to finish at mid year by God’s grace and practice as much I ought to with demo trading.

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63

Aha, welcome back, Anu, where are you from, and what are you doing for a living. The reason I ask is to see if I may offer some guidance here on the board that is personalized to your situation. Anyway ask away, please tell us about your goals, and learning process. Oh by the way, Mikey “ICT” is still around and hanging out in Gators Weak/Strong thread, so be careful.

The Ever Welcoming VIPER

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64

I never set goals for myself for the year. After all, every day when trading on Forex you can earn both profit and loss. And when you set yourself some kind of goal for earning money over a period of time and, for example, you don’t achieve it, you start to get nervous and still try to fulfill the plan by any means. And this can lead to losses.

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65

Oooh. :thinking: That’s an interesting take. :open_mouth: Hmm. If you don’t set a certain goal, how do you keep yourself motivated or focused? :thinking:

66

Welcome baaack! :smiley: Haha. I’m glad you’re giving it another go. :smiley: And I hope you don’t run this time. :sweat_smile: Haha. But if you have any questions or if you’re confused about anything, don’t be shy to ask here! :blush:

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67

Therefore, I’m fine with concentration when I’m not chasing a certain percentage of profit, but trading the conditions of my trading strategy. That is, when they are there, I make trades and earn money, and when they are not there, I wait patiently and do not enter the market, no matter how much I would like to earn a certain percentage of profit and fulfill the plan.

68

Actually, so far I have been trading fiats and now I want to make a portfolio with crypto and synthetic indices!

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My goal is to bring back my lost consistency in trading.

70

Hmmm. :thinking: So it’s really sticking to your strategy that keeps you motivated? :open_mouth: Sorry I got a bit confused. :sweat_smile:

71

So much is happening in the crypto scene now so I definitely get the interest. :blush: As for synthetic indices, that’s something that’s probably too complicated for me to ever get into. :sweat_smile: Hahaha.

72

Good luck with that! :blush: But if you don’t mind me asking, how did you become consistently profitablee and how did you end up losing the consistency you once had? :open_mouth:

73

Thanks for reaching out Viper. I actually wasn’t expecting a response or reply to my post. I’m humbled.

I live in Lagos, Nigeria and I’m currently a high school teacher. I’m looking to learn the process of applying the knowledge from school of pipsology with demo trading and price chart analysis. I can identify a doji, morning and evening and a maribozu. I picked out a double top pattern successfully one time but didn’t know where to put the TP😅. I know there’s quite a lot to learn to be able to carry out chart analysis independently. YouTube has been helpful but sometimes the information on YT can be really overwhelming so I stick to School of pipsology. I’ve just gotten to the high school.

74

Thank you so much. I’m hoping to finish up this time :muscle:t5: :triumph:. I’ve been reading up so much that I don’t look at the charts as much. I feel like I’m missing out on something by not looking at the chart. Do I need to have a strategy before demo trading? I’m asking because the course outline for the school of pipsology put strategy development towards the end of the whole course. So in my mind I’m thinking maybe I should just focus on completing the course before developing a strategy. What do you advise?

75

Hmmm. :thinking: It’s been a while since I’ve been on demo but since you won’t lose any money, maybe you’d want to try out different systems to see which ones work for you? Maybe you can try the HLHB system I used to do! :smiley: I feel like having a system while demo trading helps give order to your demo trading, if that makes sense. :sweat_smile:

76

My goal and motivation is to earn as much on Forex as my strategy allows. And how much money I earn depends only on the signals of my trading strategy. Today there are signals for trades, for example, tomorrow they may not exist and you will just have to wait for them. That’s why I don’t set any specific goals for the amount of earnings, but trade when there are conditions for this and take what the market gives.

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77

My target in 2024 is to trade more and with a bigger portfolio. hope I will succeed to achieving my goal.

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78

Thanks a standard lot!:person_raising_hand:

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79

Verry good aproach - this leeds to regular income!:+1:

80

Thanks for clarifying! :blush: I hope I can be as confident with my system as you are with yours too, eventually. :pray: