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Do you have a goal for the next six months?

Discussion in 'General Forex Talk' started by Rambo35, Jul 4, 2013.

  1. Rambo35

    Rambo35 Corporal

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    I am asking out of curiosity as I have met several traders who set monthly, quarterly or annual targets and since the financial news were filled with talk about the end of the second-quarter and first-half of the year plus all the predictions and expectations for the second-half of the year I was wondering if anyone here in this forum has a specific goal?

    I think annual performance targets are more for professional portfolio managers as they need to communicate with their clients, but I see nothing wrong with individual traders setting a target. I plan to keep doing what I have been doing so far as I am satisfied with my results and target 5% per month for myself.
     
  2. Pharaoh

    Pharaoh Colonel

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    My standard goal is to not get a margin call.
     
  3. alanrox

    alanrox Corporal

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    I second that. This a very standard and most important goal
     
  4. RahmanSL

    RahmanSL Major

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    Check out eFXnews on what the big boys are trading for long term (or at least, that's what they yelling out to the whole forex world).

    For me, a worthwhile long term trade set up would be opening a few "carry trade" positions when the currencies pair (with highest paying swap..e.g USD/ZAR) is at the extreme top (or bottom with other currencies pair) for long term positive swaps.
    Depending on the lot size, the positive swaps can be a few hundred percentage over initial capital in the course of a year.
    If you managed to catch some well place positions, you can basically allow the opened positions to run forever (or as long as your broker is still in business) and raked up positive swaps every day without you having to do anything.
     
  5. FringFX

    FringFX Sergeant

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    my goal for the next 6 months is to create an indicator (self-made or by a coder)
     
  6. FringFX

    FringFX Sergeant

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    haha. that's the tricky part.... finding the broker who offer good swaps plus good broker financial longevity :D
     
  7. itkraze

    itkraze Private, 1st Class

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    It'll be much better if you concentrate on trading without indicators rather than wasting your time in coding an indicator that will eventually won't make you a successful trade at the end.
     
  8. Whitesnake

    Whitesnake Corporal

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    I have goal every month, every week and every day and my only goal is to make pips, keep pips and keep repeating to make these pips. I simply do not want to be unrealistic in my approach but be more honest and intellectual while trading in the forex market for making good amount of money.
     
  9. RahmanSL

    RahmanSL Major

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    For high swap rates, check out the swap comparison section in MyFXbook blog.

    For trusted broker, normally I would hesitate to name a broker, but in this case I would say AxiTrader is pretty much well-established, trusted, and based on reviews, over 98% of their real clients have very little complaints & issue.
    I am a recent client of AxiTrader and based on my trading experiences so far, I have to concurred with their other 98% clients.
     
  10. DitterPD

    DitterPD Private, 1st Class

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    Goal setting can make you anxious and emotional if you won't move towards it (i.e., hitting your desired profit) and you can go the riskier path to achieve it.

    Maybe you shouldn't set goals, but just try to make the best of every day you have? It just may seem daunting at one point and you can fall apart from not achieving your goal.. IMO
     

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