Why we need Goal in Forex Trading?

In order to keep you moving in the Forex Market, you need to create a goal so that you can use that to measure your performance throughout the month. For example, let’s said you have a capital of USD 1000 in your account and you have put down a Goal with 10% return. You will then start to trade in the market, as and when you have a profit of USD 100 in your account, you should stop trading for the rest day of the month. Perform the same process again when beginning of each month.

How to measure our Forex Goal with the live trading?

Remember to create a spreadsheet with a starting capital, month, targeted profit or loss and actual profit or loss to keep track your trading. If during Jan, your target is 10% (regardless win or loss also same 10%) and your have trading for one week, you already reached your profit from capital of USD1000, then you need to up the spreadsheet file on the following details and stopped trading for the whole month. Wait till starting of a new month, then you start the same process again.

What is the advantages of creating a Goal?

The advantage is too control yourself either being our of track and create a very discipine in forex market. Inside forex market, from time to time we loss because of no slef discipline. In order to prevent that being happened to you, create a Goal chart and write down all the actvities and at the same time remind your either you have reach your target or far beyond your this month target. Once reach that, please stop the trading for this month. Start when a new brand month starting.

Sincerely, by doing this I managed to control myself very effectively. I think is worth to pratics that too.