prochargedmopar wrote:My goal is to make $20k a month taking a week vacation on the months that have 5 weeks.
Lets break this down into what I have done so far.
$5k a week? $1k per day. Nope, not yet.
$500 a week? $100 per day. Haven't done that either.
$50 a week? $10 per day. No and No.
$5 a week? $1 per day. Close, but No cigar.
Ok, can I earn 50 cents a week? 10 cents a day trading Forex.
5 pips a day @2 cents a pip= 0.50
Or, if Im feeling like a big swinger...
10 pips a day @1 cent a pip.
Scale as needed later in life when I've proven I can do step 1.
0.50 a week.
I think goals like that are self defeating when it comes
to trading. Better of have a plan of execution and
let the market tell you what its willing to part with.
With a successful plan of execution, you'll see what you
average over time. Then I would only consider half that
average when it comes to living off your gains.