QUOTE(andyforex @ Jan 23 2011, 07:57 AM)
The main thing I stick to when trading forex is the amount of money that I want to make in a day. As soon as I hit my target I stop trading even if I think I could make more.
Andy, having new traders focus on reaching a monetary goal on a daily basis is NOT a good piece of advice, while it may work for you all it will do is cause an inexperienced trader to get locked into bad trades or force them to open bad trades.
The best advice I can give aside from what was mentioned by Debbie is that in order to become and remain profitable in this market you need to be disciplined,
a small loss is as much of a win as a large gain. The old saying, 'Let your winner run and cut your losses', is something you need to live by as a trader.
This post has been edited by FirstFloor FX: Jan 23 2011, 08:11 AM