which trading approach is more appropriate, it depends on your trading balance and experience. long term trading is much comfortable than short term but need standard equity with real knowledge and experience.
to be experience about Fx trading is a long time process and for that we the traders who are particularly newcomers lost interest in here after passing sometimes . patience is first of all needed to be an experienced.
Actually how much we can earn our trading it depends on the markets movements. It’s not countable at all by our trading accounts. I was profitable when I started my live trading with 1K. but I did huge loss when I increased my balance in 2.5K but there was same strategies with same money management.
as a newcomer , learning Forex now already easy actually because many source we can learn and read from these sources , yes Baby pips is almost popular website among trader to learn Forex on school tab section , but also will very important while learn on theory also use demo account to practice .
It depends on the strategy adopted and the unique goals set by the individual. In one strategy, some trades often target smaller profits like in scalping, while others seek larger profits in a longer time frame like in position trading.
It is very important to have long term goals in trading because you can never be successful with short term goals. I have seen many traders who have been very successful with long term trading goals. It is a matter of trading goals so you can never be successful if you do not have long term goals in trading. After gaining a lot of knowledge you can set long term goals. It is not possible to trade without a plan. Long term goals in trading include a plan.
It is very important to have a target in trading. If you do not have the right target, you will not find your trading purpose. It is very important to have a target to meet your goals. It is not possible to achieve anything without a purpose. It is also impossible to reach the goal of trading without a target. If you want to reach the goal, you have to proceed according to the plan. If the plan is not right, there can be many problems to reach the target.
when making a trading target please keep in cool mind , never do it with an emotional state , because the target you have fixed of course will affect in your trading , so be careful when making a plan.
Your trading skills and abilities define your style. Yeah it's true most traders like short term trading. But scalping can be dangerous for newbie as it makes them restless. They sit before charts all the time to find an entry. As a result out of desperation they open wrong trades.
Profit target in forex trading should be based on your skills. If you have the ability to predict 20 pips your target should be 18 pips. If you do not predict more than that do not hold your trade. So fix your target based on your skills.
Trading Target varies trader to trader, strategy to strategy. Short timer trader target for short pips and long-time trader target for long pips. However, I am a scalper. I usually target 100-150pips per day.