Is it proper to trade without a Goal?

[Planbizzle]

In my opinion, Having a goal is an important aspect of trading.
This is because, it would help you to control the greed factor .
Thereby reducing the risk of falling to your emotions

It is not appropriate to trade without a goal in mind, since this might lead to losses and hazards. While trading, it is critical to have a defined goal in mind, including minimizing the possibility of financial losses or striving towards a particular profit target. Having a goal can help guide your decisions and guarantee that you trade properly.

 

[Genie01]

As a matter of fact you'll ended up losing all because you don't know we're to stop, a lot of people are making this mistake of trading without a goal, this very bad.

You are right bro, if you don't know where to stop in trading you might make a good amount of money but you'll still lose it, because you don't have idea on where to stop.

 

[Immilash]

You are right bro, if you don't know where to stop in trading you might make a good amount of money but you'll still lose it, because you don't have idea on where to stop.

That's just it sir, knowing our stoping point in trading is very important, it will help us to secure our profits, but a lot of people don't really understand this especially the newbie's.

 

[Genie01]

That's just it sir, knowing our stoping point in trading is very important, it will help us to secure our profits, but a lot of people don't really understand this especially the newbie's.

Yes, in thing's like Forex trading you need to have stoping point, if you know when to stop you can be able to secure your profits, it will also help in terms of risk management.

 

[Immilash]

Yes, in thing's like Forex trading you need to have stoping point, if you know when to stop you can be able to secure your profits, it will also help in terms of risk management.

You are right, when you take a losing trade you are expected to stop but some people don't have the decipline to do that, if you are not having decipline as a trader you are going to suffer a lot.

 

[Genie01]

You are right, when you take a losing trade you are expected to stop but some people don't have the decipline to do that, if you are not having decipline as a trader you are going to suffer a lot.

Yes that's it, if you are good at doing that it means you know what you are doing, unlike a lot of traders when they lose money they try to get it back really quick.

 

[Immilash]

Yes that's it, if you are good at doing that it means you know what you are doing, unlike a lot of traders when they lose money they try to get it back really quick.

If you are good at executing trades without having the knowledge you are going to lose a lot of money, that's why a lot of traders lose money because of things like this.

 

[Genie01]

I remembered clearly , it was around
this time last year I decided to trade forex without having significant knowledge of how things operates. I lost my entire capital in one week, I lacked goal and strategy.

 

[Immilash]

It is not appropriate to trade without a goal in mind, since this might lead to losses and hazards. While trading, it is critical to have a defined goal in mind, including minimizing the possibility of financial losses or striving towards a particular profit target. Having a goal can help guide your decisions and guarantee that you trade properly.

That's just the truth, but a lot of people don't really understand this they ended up losing a lot of money, if you want to be successful in trading you go for the knowledge first.