What is your goal in trading?

Vladimir Rojas

Junior member
All we know that it’s impossible to start something without the goals setting. Likewise, the goals are an essential part of your trading strategy. They direct your interest in the market and give a sense of achievement when you succeed.
Which targets do people pursue when starting to trade?
Often the answer is money. If your reply is the same, the loss of only 1 pip can scare you away from Forex. But truly, money is a result of the trading process. And our aims should lie deeper.
So, it’s not just about the goals, but about the setting them right. The results-based aims are crucial both for novice and pro traders.
For example, raising $1000 per week is not the right goal. It’s better to strive for a deep market understanding to help yourself achieve financial freedom. On the way to the meaningful goal, you will find your own strategy, recognize the process, and be aware of how to make a profit from trading.
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WalletInvestor

Active member
I completely agree that the money is more of a result of the trading process rather than a goal in and of itself. I guess for me certain earnings are the long-term goal, but on the short run I focus on doing good analysis and making the right decisions.
 

HeavLeighGill

Active member
Not to lose money and work on self-improvement like patience and discipline. Those things seem to improve trading profits.
 

mattrich

Newbie
My goal is simple, to increase my pension pot so that I can retire and have something better than what I would have had if I had left it with Aviva. I have spent the last 6 years looking after my own SIPP and adding an Self invested ISA alongside it in the event of a rainy day when I get older. I have had to gain "deep market understanding" and what I know now compared to 2015 probably makes me boring amongst friends but I am well ahead of what Aviva predicted, and that was before Covid. There predictions may be lower now.
 

pezza55

Member
I trade to have the freedom from working for large companies and to make a better lifestyle choice. Trading gives you time which can be spent doing activities with family & friends.
 

Henow1969

Well-known member
The goal of forex trading is to make a profit but to do so, traders need to have enough knowledge to maintain and manage their accounts and make some profit every month. Success occurs when traders are making money.
 

Jungletrader

Active member
For me it's making life easier as in not taking out loans to go on holidays and have cash on hand for home repairs .
No big expectations here my friend just an easier life financially
 

Farm Yard Forex

Well-known member
I have a very realistic goal, i.e., be successful in trading, enhance my lifestyle and become a forex trading coach.
Interested you say this? Why coach trading? If you are successful you won't need the money and you'll have your time back so why use it all up attempting to teach only to be called a fraud by many?
 

Farm Yard Forex

Well-known member
Might be possible that he wanted to lead the way for other new traders so that they might learn and do not make the mistakes as a new trader.
Oh it's a noble endeavour but the issue is the so called social media guru has ruined that for legit traders who want to do this by spouting utter nonsense and charging the earth for it. Makes the space quite poisonous now unfortunately. Hence why it might be easier to just enjoy the time successful trading can afford you.
 

Jungletrader

Active member
That is quite noble my only gripe is no matter how good your intentions people will always look to calk you out as a charlatan especially in Forex it's quite ruthless
 

Farm Yard Forex

Well-known member
To be financially free and not have to work a 9-5. I don't want millionaire status, but enough to replace my income.
Thing is people talk about millionaire status and about being rich but being wealthy is key. That is time based. Can the money you make afford your lifestyle indefinitely. If the answer is yes then you are wealthy.
 
 
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