Do you have a target?

happy and mad trader

During my FX career I have experienced a lot of things in the market, but this is the one most important, target! Recent develompent in the EUR/USD remind me on this, lot’s of up and downs or as I call this, the roller coaster. But, everthing is happens between the support/resistance levels, you can check my analysis to see that. Do you have target when you are in the position? One of the worst things that could happen is, to place your order at fantastic level with low risk and wait to long because you didn’t set up your target. The price could easy hit the resistance level and return on the begining, erasing your entire gain. Someone will say, that’s not so important, I didn’t lose. Believe me, this is very important. Why? You will think how you missed the profit that you might have, after wich you will enter in to next position too quickly and thoughtlessly. You will lose! This kind of situation could also lead you to the over trading and that’s could be even worse. At the end of the day you will think, how easy and fast I could have a nice profit, but instead I am so angry and sad beacuse I have loss! Have you already experience that? Think of this and set up your targets reasonable, do not adjust targets to levels that are difficult to reach. Happy trading!

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