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Best realistic profit targets
Nov 24, 2024 at 05:54
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12 Replies
forex_trader_3929664
Tham gia từ Nov 19, 2024
43bài viết
Nov 24, 2024 at 05:54
To learn how to be profitable in Forex, we must first learn how to have realistic expectations. If your expectation is to double your deposit every month, you will use risky strategies and endanger your account balance. What's more, you need to learn more about the instruments you are going to trade.
Every currency pair has a different average daily volatility. For example, EUR/CHF moves by 50 to 55 pips on average, as the two currencies are highly correlated. Consequently, it might not be realistic to set a daily profit target with this pair at 100 pips. For such ambitious goals, there are other currency pairs such as GBP/AUD or GBP/NZD, where their daily fluctuations might range between 190 and 210 pips.
Every currency pair has a different average daily volatility. For example, EUR/CHF moves by 50 to 55 pips on average, as the two currencies are highly correlated. Consequently, it might not be realistic to set a daily profit target with this pair at 100 pips. For such ambitious goals, there are other currency pairs such as GBP/AUD or GBP/NZD, where their daily fluctuations might range between 190 and 210 pips.
Tham gia từ Oct 16, 2024
21bài viết
Dec 10, 2024 at 09:54
You’re spot on! Realistic expectations are key in Forex. Aiming for huge monthly gains often leads to risky trades. Each currency pair has different volatility, EUR/CHF moves 50-55 pips a day, while GBP/AUD or GBP/NZD can move 190-210 pips. Adjust your goals to match the pair’s behavior and always manage risk.
Tham gia từ Dec 02, 2024
75bài viết
Dec 12, 2024 at 08:05
It is very important to match the target with the personality of the currency pair. Let’s not forget USDCAD or AUDUSD. The first one requires some patience and the other one can be very aggressive during the Asian session. I try not to force and let the pair show me what it has got!
Tham gia từ Dec 09, 2024
136bài viết
Dec 13, 2024 at 06:49
ChelseaR posted:
It is very important to match the target with the personality of the currency pair. Let’s not forget USDCAD or AUDUSD. The first one requires some patience and the other one can be very aggressive during the Asian session. I try not to force and let the pair show me what it has got!
I agree! Each pair has its own vibe. Do you find any particular session works better for certain pairs?
Tham gia từ Oct 21, 2024
61bài viết
Dec 13, 2024 at 08:33
ChelseaR posted:
It is very important to match the target with the personality of the currency pair. Let’s not forget USDCAD or AUDUSD. The first one requires some patience and the other one can be very aggressive during the Asian session. I try not to force and let the pair show me what it has got!
I get it. I myself let the pair dictate the pace too. Do you find AUDUSD moves easier to catch in the Asian session?
Tham gia từ Aug 18, 2019
68bài viết
Dec 14, 2024 at 10:30
Realistic profit targets in Forex trading are essential to avoid unnecessary risk and emotional trading. Instead of focusing on arbitrary numbers, aligning your goals with market behavior and your strategy is key. For instance:
Understand the pair's volatility: High-volatility pairs like GBP/AUD or GBP/NZD may allow for larger daily targets, while low-volatility pairs like EUR/CHF require more conservative goals.
Account size matters: Setting a percentage-based profit target (e.g., 1-2% per day) can be more sustainable than aiming for a fixed number of pips or doubling your account monthly.
Adapt to sessions and patterns: Some pairs, like AUD/USD, might be more active during the Asian session, while others favor London or New York trading hours. Matching your trading schedule to the pair's activity can improve outcomes.
Ultimately, it's about patience and letting the market dictate opportunities. Avoid forcing trades, and remember that consistent, small gains often outperform high-risk strategies over time.
Understand the pair's volatility: High-volatility pairs like GBP/AUD or GBP/NZD may allow for larger daily targets, while low-volatility pairs like EUR/CHF require more conservative goals.
Account size matters: Setting a percentage-based profit target (e.g., 1-2% per day) can be more sustainable than aiming for a fixed number of pips or doubling your account monthly.
Adapt to sessions and patterns: Some pairs, like AUD/USD, might be more active during the Asian session, while others favor London or New York trading hours. Matching your trading schedule to the pair's activity can improve outcomes.
Ultimately, it's about patience and letting the market dictate opportunities. Avoid forcing trades, and remember that consistent, small gains often outperform high-risk strategies over time.
Adapt, analyze, and achieve — one trade at a time.
Tham gia từ Dec 09, 2024
136bài viết
Dec 16, 2024 at 07:31
y8g9NkylxG posted:
Realistic profit targets in Forex trading are essential to avoid unnecessary risk and emotional trading. Instead of focusing on arbitrary numbers, aligning your goals with market behavior and your strategy is key. For instance:
Understand the pair's volatility: High-volatility pairs like GBP/AUD or GBP/NZD may allow for larger daily targets, while low-volatility pairs like EUR/CHF require more conservative goals.
Account size matters: Setting a percentage-based profit target (e.g., 1-2% per day) can be more sustainable than aiming for a fixed number of pips or doubling your account monthly.
Adapt to sessions and patterns: Some pairs, like AUD/USD, might be more active during the Asian session, while others favor London or New York trading hours. Matching your trading schedule to the pair's activity can improve outcomes.
Ultimately, it's about patience and letting the market dictate opportunities. Avoid forcing trades, and remember that consistent, small gains often outperform high-risk strategies over time.
Absolutely! I feel realistic targets and patience are the key. It's all about knowing the pair's behavior and managing risk well. What's your approach to setting profit targets - do you focus on percentage gains, pips, or something else?
Tham gia từ Dec 02, 2024
75bài viết
Dec 18, 2024 at 04:49
Brenda13 posted:ChelseaR posted:
It is very important to match the target with the personality of the currency pair. Let’s not forget USDCAD or AUDUSD. The first one requires some patience and the other one can be very aggressive during the Asian session. I try not to force and let the pair show me what it has got!
I agree! Each pair has its own vibe. Do you find any particular session works better for certain pairs?
I like trading AUDUSD during the Asian session because I feel it tends to wake up and show strong moves. Likewise, USDCAD seems to perform better in the New York session! What about you?
Tham gia từ Dec 02, 2024
75bài viết
Dec 18, 2024 at 04:50
Rusell_Thorpe posted:ChelseaR posted:
It is very important to match the target with the personality of the currency pair. Let’s not forget USDCAD or AUDUSD. The first one requires some patience and the other one can be very aggressive during the Asian session. I try not to force and let the pair show me what it has got!
I get it. I myself let the pair dictate the pace too. Do you find AUDUSD moves easier to catch in the Asian session?
Yes, AUDUSD is definitely on a roll in the Asian session
Tham gia từ Oct 16, 2024
33bài viết
Dec 18, 2024 at 07:53
Realistic expectations are key in Forex. Avoid aiming to double your deposit monthly—focus on understanding each pair's volatility and setting achievable targets. EUR/CHF may only move 50-55 pips, while GBP/AUD could hit 190-210 pips. Know your pairs, trade wisely! 💡
In trading, knowledge is power; in practice, patience is key.
Tham gia từ Dec 09, 2024
136bài viết
Dec 19, 2024 at 06:26
Ron_Smith posted:
Realistic expectations are key in Forex. Avoid aiming to double your deposit monthly—focus on understanding each pair's volatility and setting achievable targets. EUR/CHF may only move 50-55 pips, while GBP/AUD could hit 190-210 pips. Know your pairs, trade wisely! 💡
I completely agree! Setting real goals on each pair's volatility is key. EUR/CHF moves less, so I aim for smaller profits, while GBP/AUD can go bigger. How do you manage your trades?
Tham gia từ Oct 21, 2024
61bài viết
Dec 19, 2024 at 11:58
Ron_Smith posted:
Realistic expectations are key in Forex. Avoid aiming to double your deposit monthly—focus on understanding each pair's volatility and setting achievable targets. EUR/CHF may only move 50-55 pips, while GBP/AUD could hit 190-210 pips. Know your pairs, trade wisely! 💡
Absolutely - I learned it hard way. Knowing the pair's range saved me from chasing unreal moves.
Tham gia từ Oct 16, 2024
23bài viết
Dec 20, 2024 at 06:28
Totally agree with this! Setting realistic expectations is key to staying consistent and protecting your account. I learned the hard way that aiming for crazy profits often leads to reckless trading. Also, understanding the pairs you trade makes a huge difference—like knowing EUR/CHF isn’t gonna hit those 100-pip targets daily. GBP/AUD or GBP/NZD definitely offer more action for bigger goals!
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