How Many Pips a Day is Good in The Forex Industry

Forex trading in Kenya is a lot different than typical investing. Be sure to set goals for yourself and monitor your progress to see if you are on track. This will help you stay motivated and keep going when the going gets tough. Regardless of what you hope to accomplish in forex, make sure that you have a concrete plan in place before getting started!

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1. Forex Trading is Different

2. Goal Setting

3. Why it’s Important to Set Goals

4. How to Set Goals

5. Examples of Good Goals for Forex Traders

6. How to Measure Your Progress Towards Your Goal(s)

7. What Happens When You Reach a Goal or Stop Making Progress Toward One (i.e., the “What now?” stage)

8. Failure and How to Get Back on Track

9. Conclusion: Today is the First Day of the Rest of Your Life

1. FOREX TRADING IS DIFFERENT

Forex trading has a lot less to do with buying and selling shares that rise or fall as much as they do with predicting where the value of one currency in relation to another will be in a certain amount of time. From there, traders can then buy and sell shares that rise or fall based on the value change in relation to the value of other currencies. This is why forex trading is so much different than regular investing.

2. GOAL SETTING

You have to remember that forex is a lot different than typical investing. It is more dependent on predicting where the value of one currency in relation to another will be in a certain amount of time.

Setting goals for yourself and monitoring your progress are important if you are hoping to accomplish something specific in this area!

This is why it is important to set goals for yourself and monitor your progress in order to stay motivated and keep going when the going gets tough!

An example of goal-setting for forex would be: “I want to increase my account by $3,000 in the next month.”

You could also try something like; “I want to learn about X aspect of forex trading” or “I want to learn about Y technical indicator”.

Not only is it important to set goals for yourself but you should set measurable goals so that you can check your progress over time. An example of this would be: The first week I will spend an hour each day learning about X aspect of forex trading and practice using Y technical indicator. The second week I will dedicate two hours per day and so forth until I reach my goal!

The most important thing is that your goals are realistic enough that you have a chance to accomplish them.

3. WHY IT’S IMPORTANT TO SET GOALS

Goal-setting is extremely important in forex trading because it will motivate you and keep you going when the going gets tough!

When trying to achieve something specific in this area, the only way to make progress is by setting goals for yourself and monitoring your progress towards those goals over time!

4. HOW TO SET GOALS

Here are some examples of good goals for traders: I want to increase my account by $500 each month, I want to learn about Y aspect of forex trading or technical indicator X, etc.

Remember that your goal should be realistic enough that you have a chance to accomplish it!

You should set measurable goals so that you can check your progress over time. An example of this would be: The first week I will spend an hour each day learning about X aspect of forex trading and practice using Y technical indicator. The second week I will dedicate two hours per day and so forth until I reach my goal!

Not only is it important to set goals for yourself but you should set specific goals as opposed to general ones, such as learn forex trading or earn $5,000 this year . It’s also a good idea not to focus on short-term gains as much as long-term achievements as well as far as setting your goal goes.

5. EXAMPLES OF GOOD GOALS

I want to increase my account by $500 each month or I want to learn about Y aspect of forex trading.

I don’t recommend that you use “I want to make X amount of dollars in forex” because there is no way for you to know when it will happen, thus the goal is not specific enough and almost impossible to measure (see section 4).

6. REACHING YOUR GOALS

Reaching your goals in this area is very important because when you accomplish something specific, it builds up your confidence and self-esteem which helps motivate you even more!

If you find that reaching your goals is becoming too easy then consider increasing the difficulty next time and/or trying a different goal.

Once you have reached your goals, make sure that you take a moment to appreciate yourself and acknowledge your achievement!

 Another important thing you should do is consider what worked and didn’t work for you when reaching your goal. This will help you to create even better strategies next time so that the process of reaching the same goal becomes easier or improve on strategies from last time.

In conclusion, forex trading takes a lot of patience, determination and dedication so it is important to set specific goals for yourself and monitor your progress towards those goals in order to increase motivation, stay motivated and keep going when the going gets tough! If you have any questions please post them below or visit our forum! Bye for now! đŸ™‚

HOW MANY PIPs PER DAY IS GOOD?   

 One of the most important things you should do as a forex trader is set goals for yourself and monitor your progress to see if you are on track! Forex trading is a lot different than typical investing so it takes determination, patience, motivation and dedication in order to be successful! Do not underestimate the importance of goal setting because that will lead to failure in this area!

Here are some examples of good goals that traders set for themselves: I want to increase my account by $500 each month or I want to learn about X aspect of forex trading.

The first week I will spend an hour each day learning about Y technical indicator and practice using Z forex trading strategy. The reason it’s important not to use “I want to make X amount of dollars in forex” is because there is no way for you to know when it will happen, thus the goal is not specific enough and almost impossible to measure (see section

4)! I recommend that you set both short-term and long-term goals! Your short term goals should be achievable pretty quickly and your long-term ones should be much more difficult and time consuming so that they actually take a significant amount of time and effort on your part but are still realistic!

Not only is it important to set goals for yourself but you should set specific goals as opposed to general ones, such as learn forex trading or earn $5,000 this year . It’s also a good idea not to focus on short-term gains as much as long-term achievements.

Why Are Goals Important in Forex Trading

Setting goals for yourself is important because it keeps you motivated and helps you stay on track! Even if your goal is to reach $1,000 per month in forex trading , for example, each time you accomplish something specific along the way (such as setting up an account or learning about X aspect of forex) you will feel accomplished and more determined than ever to reach that final goal. This “inevitable satisfaction” can lead to positive results over time if done correctly!

HOW TO SET A SPECIFIC GOAL in Forex Trading?

              This is very important because when you accomplish something specific (such as reaching $1,000 in your forex account), it builds up your confidence and self-esteem which helps motivate you even more! It’s also much easier to track your progress when you have a specific goal.

HOW TO SET A SPECIFIC GOAL IN DETAIL

 The first step would be to determine exactly what you want to accomplish (i.e.: I want to increase my account by $500 each month) and how long it should take for you to get there (i.e.: one week). Then determine the strategies that you will use throughout this time frame in order to achieve your goal such as trading

3. WHY IT’S IMPORTANT TO SET GOALS

           It is easy to get discouraged when you are struggling, but by setting clear objectives that you can measure (and then measuring them), you will always know exactly where you stand. You should measure your progress frequently not only to see if you are on track, but also to help motivate you along the way! Your goal could be anything from increasing your profit margin over time or learning more about technical analysis . The bottom line is that it’s important because it gives you a direct path of action as well as something specific to work toward!

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