Goal setting
Everyone has expectations of what they would like in return for spending all the time learning, practicing on demo and finally trading on a live account. Some of us start off with expectations of making millions or $100,000s within the year. Now let's get realistic and see wha...
Everyone has expectations of what they would like in return for spending all the time learning, practicing on demo and finally trading on a live account. Some of us start off with expectations of making millions or $100,000s within the year. Now let’s get realistic and see what you can really make. Banks and financial institutions give you an interest rate or a return rate of 4% to 7% a year. Many stock and commodity indexes can give you on average 12% to 15%, so realistically how much more can you make in forex? There are expert forex traders who double their money in less than a year. But they also have years of experience behind them. Initially, set realistic expectations – of say not make more than 10% yearly. Another reason not to go for the 100% or more return is that you can as easily lose your money (probably easier) as you think you can make it. Once you have an established system that gives Consistent Return , you can go for higher leverage and risks. For beginner and intermediate traders; Goal = Consistent Returns at Lower Levels of Risk
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