So, when it comes to Forex, everyone wants to make a consistent income. I know I do, and I'm sure you do too. Everyone is clamoring for that, but it seems that very few achieve it. In fact, if there's anything people seem consistent about it's about losing money. You want to make, not lose, right?
Therein lays the key. Yes, it's in the losing that the key to 10 pips per day exists. You see most traders who are looking for 10 pips per day want to make it in one trade. They want to make one trade and have their 10 pips.
That is too bad for you. It doesn't work that way. You can only make money if you are willing to lose money. That sounds like of Zen, doesn't it? If you are willing to lose, then you can gain. No one is 100% perfect in trading. Truthfully, being right 50% of the time is good. In that case, you need to focus on many trades. You need to focus on the week, or even the month.
Stop thinking about just 10 pips per day and falling into despair when you have a losing trade. Then you can start making 10 pips consistently.
You need to "overshoot" your target. Don't just target 10 pips in a trade. Go for more. You can even go for a lot more. Try to get 50 pips in a trade. What if it was Monday and you did get 50 pips in your first trade? Do you see? You can stop trading for the week. That's your 10 pips per day right there.
What if you lost on that trade? Keep trading...
Therein lays the key. Yes, it's in the losing that the key to 10 pips per day exists. You see most traders who are looking for 10 pips per day want to make it in one trade. They want to make one trade and have their 10 pips.
That is too bad for you. It doesn't work that way. You can only make money if you are willing to lose money. That sounds like of Zen, doesn't it? If you are willing to lose, then you can gain. No one is 100% perfect in trading. Truthfully, being right 50% of the time is good. In that case, you need to focus on many trades. You need to focus on the week, or even the month.
Stop thinking about just 10 pips per day and falling into despair when you have a losing trade. Then you can start making 10 pips consistently.
You need to "overshoot" your target. Don't just target 10 pips in a trade. Go for more. You can even go for a lot more. Try to get 50 pips in a trade. What if it was Monday and you did get 50 pips in your first trade? Do you see? You can stop trading for the week. That's your 10 pips per day right there.
What if you lost on that trade? Keep trading...
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Article Source: http://EzineArticles.com/?expert=Nathan_Pennington Free report, "How To Pocket 81 Pips Per Day Using A Forgotten Method". You can download your free copy from http://profitable-forex.com/report [http://www.profitable-forex.com/report/]
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