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Beginners Targets 2020.
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Anayallador

Member Since May 10, 2019  9 posts Anayallador Jan 07 at 15:01
I agree that every newcomer has only one main goal: to understand what the market is and how to work with it. Everything else, including capital calculation, study of strategies, selection of trading charts and other things are secondary factors. Because there is no point in going deeper into the question if you don't understand its basics. Therefore, I would like to wish every beginner understanding and quick adaptation in the market. Because it depends on it whether you can become a real trader.

Marketmultitool

Member Since Dec 19, 2019  45 posts Marketmultitool Jan 07 at 16:46
Laige posted:
This year I would like to become a more successful and efficient trader, who in all circumstances achieves his goals. Actually, it is not that easy, considering the amount of emotions and forces trading takes. But on the other hand, it is thanks to this that you can radically change your life and become the professional, on which others are equal. I have already collected several new strategies in my list that are supposed to justify themselves and I am going to test them in practice in order to make a more accurate and thought-out plan of action for the whole year and start trading on a more serious level.


Setting a limit on the amount of trades we place in a day helps with controlling emotion or if we cut down risk with each trade 3%,1.5,0.75, emotion is telling us that we are not in the right mindset or risking too much ,emotion can be an asset sometimes especially for contra traders ,you should feel relaxed about each trade ,stop loss is there for a reason.

Strength and honor.
JaniceLiu

Member Since Dec 30, 2019  14 posts JaniceLiu Jan 09 at 03:39
Anayallador posted:
I agree that every newcomer has only one main goal: to understand what the market is and how to work with it. Everything else, including capital calculation, study of strategies, selection of trading charts and other things are secondary factors. Because there is no point in going deeper into the question if you don't understand its basics. Therefore, I would like to wish every beginner understanding and quick adaptation in the market. Because it depends on it whether you can become a real trader.


Every newcomer could set a goal which indicates the specific percentage of growth rate they want to achieve , that would be more realistic.

Treeny

Member Since Feb 08, 2019  102 posts Treeny Jan 11 at 20:19
Any profit is a good target...

Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Jan 12 at 20:25
Marketmultitool posted:
Welcome to 2020 Traders
Some targets/goals that you could achieve in the year ahead and make your account more profitable or at least stop bad habits.
What is a realistic % gain for a new account ,how about starting with break even for those that are struggling


Experienced retail Forex traders understand that it's impossible to guarantee a specific profit level per month.

A flat 2% return per month is 24% per year.

If an investor has a balance of $400,000.00, this would generate an annual ROI of $96,000.00 USD.
$96,000.00 / 12 months = $8,000.00 averaged monthly profits

In cities such as New York, Seattle, London where the cost of living is quite expensive, if you have an income of $8,000.00 Per month you can live a very comfortable lifestyle.


Marketmultitool posted:
20% in your first year is an amazing achievement but as we know most new traders want to get rich fast
Risking huge amounts of capital to be right
If you want to make money you have to think long term steady returns with low risk
This is a business not a game
What is your goals for 2020 ,make them realistic and stick to them.



New traders are encouraged to focus on RISK MANAGEMENT before worrying about the % returns.

Focus on risk management and developing a consistently profitable strategy before working about how you're going to spend the money.



If it looks too good to be true, it's probably a scam! Let the buyer beware.
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