short term target, page-20

I don't trade forex that much at the moment.

It is folly to try to pick the top or bottom, and that applies to shares as well.

There is a very intersting article I came across some time ago, if I can find it, I will post the link to it. Essentially, his approach is to work out the $ profit you need to make every month, based on a predetermined consistent % return, and work towarsd that. You might achieve that $ dollar in 2 weeks, or 3 weeks, or 4 weeks, but once you have achieved that $ profit, you don't trade any further for that month. Add that month's profit to your principal and work out the next month's $ profit you need to make, based on the same % return.

You will be surprised by the compounding effects on the amount of money you have in your trading account.

It sounds simple, but it actually is quite hard once you are in the 12th month, because your principal would have grown to quite a substantial amount and consequently the $ profit to achieve each month is quite big, and that is when human's emotions come into play, that greed and fear factors affecting our emotions and judgements, and I think that is when most of us fail.

Just thought I share that.