Forex : Advice 2

Every Forex trader is driven by greed in Forex trading, else the Forex market won't be the largest market in the world. In Forex trading, it's not difficult to make a 10-30% profit annually. What makes most Forex traders losing at the end is their greediness. Most Forex traders are not satisfy with 10%-30% profit annually, what they want is double or triple.

In today Forex market movement, most currency pairs fluctuate between 100-300 pips daily. It's not hard to gain 50-100 pips daily, in fact, most Forex traders succeed to do it. After taking 50-100 pips, due to greed, most Forex traders want to make another 50-100 pips on the same day. This will finally lead to making losses at the end of the day.

To overcome greediness, set a realistic target for each day. Let's say making 50 pips per day. Once the 50 pips profit is reached, stop and shut down your computer (assuming you trade Forex online). Never look back, continuing watching the Forex quotes or chart will make you want to enter the market again. Just call it a day with the 50 pips profit and proceed to enjoy your day doing some things you like.