In business a plan is needed to achieve the final results, as well as the forex business requires a plan to get profits (reward) and minimize losses (risk).
Planning in the forex business includes Money Management, Trading Journal, Psychology, and Technical or Fundamental Strategies.
There is a simple question about Money Management that is in determining the Target Profit.
With all the abilities or skills possessed by every trader, of course they already have a plan in determining the Target Profit, with two options as follows:
1. OPTIMISTIC in determining the Profit Target, for example: With a capital deposit of $ 100 in a month you want to make $ 1000.
2. REALISTIC in determining the Target Profit, for example: With a capital deposit of $ 100 you want to make $ 100 in a month.
From the two options above, each Trader has a different mindset in determining the Target Profit.
The question is, are you a realistic or optimistic trader in determining profit targets?
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