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Determining Target Profits in Online Trading

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target profits in online trading | Determining Target Profits in Online Trading

“Be Never Satisfied With Anything!”Maybe you’ve heard this teaching, which means never feeling satisfied with something that you have accomplished today.

In setting targets for the next time, if possible, achieve better than today. As we know, in the world of trading, the opportunity to get the maximum profit is very wide open. Even if you can, in one day you can get profits up to 100% more than the initial capital. Of course, this lures traders to get big profits.

Related : Success in Forex Trading, Here are 5 Tips for Beginner Traders

However, you also need to set targets in search of profit and apply consistent trading strategies so that profit targets can actually be achieved. In forex trading, there is a general term “the bigger the profit target, the greater the mental pressure to get it”.

But behind profit targets and mental pressure, at least there are big targets that make you more excited. But sometimes the problem is, do we already have the ability to reach that big profit target?

Determining the Target Profits Amount

So what is the target profit range that must be determined? Maybe there are traders who set a profit target of around 50 USD or 70 USD in a day.

Whatever it is, everything is fine. What needs to be reviewed is how much capital you have to get the profit you are targeting? If in a business, usually, the profit is around 10 percent – 30 percent per month of the total capital.

Now, if you do take trading seriously, then it’s only natural that with a capital of 100 USD you are targeting a profit of 10 – 40 percent per month.

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For Example: 40 percent per month, meaning that with 20 trading days in 1 month, if you share it evenly, then you can achieve this profit target of 2 percent per day.

So if you have a capital of 200 USD, the target profit can be 4 percent per day. But keep in mind, the theory above is just a simple explanation so that you can easily digest this concept. Because in reality, the target profit of 4 percent per day is a relatively small number.

3 Important Things to Determine Profit Targets

The key, if you are serious about entering the world of trading, then prepare serious capital too! In determining profit targets, don’t forget these important things:

  • Serious capital means preparing or at least separating trading capital from daily necessities. Trade money that is specially prepared for trading. Because there are times when you experience losses when trading.
  • If you are already taking this trading seriously, prepare your capital carefully. So that if your profit target is reasonable, the results can be enough to pay for your life. Whatever profit target you set, be sure to achieve it.
  • Don’t forget to limit the desire to gain more profit than the target if there are no supporting signals. Don’t overly target profit targets that are too big. Because when your transaction is losing money, you will be further away from the specified profit target, you may even be mentally shaken.

Those are some ways to determine target profits while you are online trading that you can try.

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