Best realistic profit targets
Nov 24 at 05:54
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forex_trader_3929664
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Nov 24 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.
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19 ieraksti
Dec 10 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.
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23 ieraksti
Dec 12 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!
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22 ieraksti
Dec 13 at 06:49
ChelseaR posted:I agree! Each pair has its own vibe. Do you find any particular session works better for certain pairs?
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!
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34 ieraksti
Dec 13 at 08:33
ChelseaR posted:I get it. I myself let the pair dictate the pace too. Do you find AUDUSD moves easier to catch in the Asian session?
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!
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68 ieraksti
Dec 14 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.
Biedrs kopš
22 ieraksti
Dec 16 at 07:31
y8g9NkylxG posted: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?
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.
Biedrs kopš
23 ieraksti
14 stundas atpakaļ
Brenda13 posted: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?ChelseaR posted:I agree! Each pair has its own vibe. Do you find any particular session works better for certain pairs?
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!
Biedrs kopš
23 ieraksti
14 stundas atpakaļ
Rusell_Thorpe posted:Yes, AUDUSD is definitely on a roll in the Asian sessionChelseaR posted:I get it. I myself let the pair dictate the pace too. Do you find AUDUSD moves easier to catch in the Asian session?
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!
Biedrs kopš
32 ieraksti
11 stundas atpakaļ
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.
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