when do you make more pips

W

watchdaride

I have been tracking most of my losses and they are mostly in us sessions when small fundamentals are announced (volatility). Do you successful forex traders make more money when there is no fundamental announcements ? When the market has a natural flow. I also have been taking a beating these 2 last weeks. I use to settle for 20-30 pips and leave alot on the table. so I have been holding on longer but have lost money. I keep thinking this is a get rich quick business. Small profits consistently seems to be the name of the game. What sort of goals do you guys go for 100 's or smaller amounts? The experts say let your profits run and cut your losses. Easier said than done .
 
Quote from watchdaride:

I keep thinking this is a get rich quick business
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Cant answer the rest of your question I'm afraid, but that one statement is a BIG mistake. Its a get poor quick business if you have the wrong attitude.
 
Quote from watchdaride:

I have been tracking most of my losses and they are mostly in us sessions when small fundamentals are announced (volatility). Do you successful forex traders make more money when there is no fundamental announcements ? When the market has a natural flow. I also have been taking a beating these 2 last weeks. I use to settle for 20-30 pips and leave alot on the table. so I have been holding on longer but have lost money. I keep thinking this is a get rich quick business. Small profits consistently seems to be the name of the game. What sort of goals do you guys go for 100 's or smaller amounts? The experts say let your profits run and cut your losses. Easier said than done .
More...
"I also have been taking a beating these 2 last weeks."

watch, the last two weeks have been murder, especially the last week and last two days!

let me ask you, how is it you incur your losses?
 
Quote from Rossored:

Cant answer the rest of your question I'm afraid, but that one statement is a BIG mistake. Its a get poor quick business if you have the wrong attitude.
More...
I agree.

Having the wrong trading structure zaps most the fx traders.

Although I may exceed it, my goal is to double my account every year. Check this out...

year 1 - $10K
year 2 - $20K
year 3 - $40K
year 4 - $80K
year 5 - $160K
year 6 - $320K
year 7 - $480K
year 8 - $960K

Keep doing that equation and somewhere around the 20 to 22 year mark you will surpass a trillion dollars.
 
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