All language subtitles for TraderFXBichin 2000 - 5

of the plan right further in
this chapter we will be

management limits that you put
in place for yourself. Have a

you know potential targets
potential loss cut off points

profit cut off points etcetera
etcetera etcetera and without

further ado I will see you over
in the next video so thanks for

think on this make some notes
and add this to your next step

we've spoken about so far but
as we go jot down some ideas

actually looking at an example
plan everything together that

losing weeks. Uh we need to
stick to the plan and go for

the week for the month when
you've achieved good targets,

those monthly targets overall
knowing that if we've got these

come back next week if I make
10% in a week you know you can

set high targets right you can
set high cut off points you

it comes to targets then we are
looking to set realistic

the game for longer right if
you want to be here for the

I make 6% in a week I'm
going to cut off my trading

actually does is you get cocky
and you get a bit arrogant and

push further and try and go for
even more profits but what this

in a week you might think
you're on a roll and you might

Potentially review your
strategy to some back testing

losses. Recoup those losses and
put yourself back up in the

same kind of thing. Okay it's
good to be disciplined and

you're probably not going to
hit that every single month

personally 10% per month 15%
per month 20 at a push but

you fulfilled when you actually
achieve them so that you can

trading. When you lose X amount
in a month you stop trading.

achieve now what is an
achievable target you know

but at the end of the day noone
really should be looking at

you need to accept this and
suck it up from the start there

yourself too far without
stressing yourself out too much

realistic with them set targets
that you can realistically

hit consistent achievable
targets without pushing

summarize these guidelines,
these targets and these risk

Now just to quickly summary
summarize guidelines then this

slacks you can end up giving
back all the profits you've

that discipline to set those
profit cut off points and

accept okay I've made 6% this
this week I'm getting out of

realistic achievable targets in
percentage terms looking at

progressing and feel like you
are winning as opposed to these

get around to actually smashing
alright so with your targets

you from getting greedy it's
going to stop you from getting

if you begin doing that you
begin making irrational

of your week knowing that
you've made 5% that week which

sure we set these profit cut
off points to maintain our

our rules we can eventually
meet reach them regardless of

think that you're invincible
and then that actually leads to

so be realistic with those
targets set targets you can

target like that allows for
losses it allows for harder

off points. So when you lose X
amount in a week you stop

targets 10% per month 15% per
month but if you want to drop

about with the lost cut off
points it's just going to stop

and enjoy your trading career
while you're doing it it means

long term you're here for long
term success and a career out

you're going to need to set
profit cut off points to

believe it's important to
actually be realistic with

actually be reached, right?
You'll be consistently pushing

and then come back the next
month to you know regain those

are so big that you can barely
achieve them or that may never

high unachievable targets that
you're never really going to

trying to flip up a you know
like a grand into a million

and if you are a long term
trader yearly targets as well

fulfilling career where you
actually feel like you're

could even hit one winner, one
to five risk reward and that

percentage terms on a weekly
monthly and yearly basis and be

will clear your whole profit
target right but a modest

Uh it could take, you know, one
winner a week. I mean, you

small account so big trying to
make 50% a month long game

we're all wired quite similarly
and we may be always pushing

that's not going to happen
right you need to be realistic

you know include weekly monthly
and yearly so it's down to you

okay my recommendation monthly
but of course some of you are

but that's what I recommend
looking at targets percentage

a realistic target of 10% per
month, you're already going to

find one, two, three high
probability high accuracy

them. Set targets that can
actually be achieved rather

fail. Trading is enough of a
challenge as it is. If you set

weekly targets, we are rushing
ourselves into trying to hit

than ones that are going to
keep you consistently pushing

yourself. Using that as the
driving force to keep yourself

have some life goals. You're
consistently pushing yourself

going to be shorter term
traders some of you are going

and smash your monthly target
in the end so targets depending

on what suits you best you
should look at putting in your

also allows for some achievable
consistent goals right it

are we going to cut off our
trading? Right? So that is to

things. How much are you going
for per week per month? Uh when

about limits you know loss
limits risk for trade etcetera

right? And how are you going to
maintain that discipline to

plan, you're going to want to
include each of these different

we going to aim for? And then
what profit and what loss level

just keep rolling with the
plan?

refers to your limits and your
targets collectively. So as

accept the losing weeks, to
accept the slower weeks, and

etcetera. How much we're going
to risk per trade. How much are

back Monday and smash the
market once again so that is

we've just spoken about targets
the previous video we spoke

what happens on the short term.
So to summarize targets then

it down to the weekly you can
do that too We want to make

are you going to actually take
the step to cut off trading for

achievable targets in place and
we follow our plan we follow

discipline. We need to accept
that some weeks are going to be

right week and month are my
recommendations more so monthly

how we are going to summarize
targets Inside of your trading

the market I'm going to enjoy
my weekend I'm going to come

weekly, monthly and yearly time
frames and then just holding

achievable targets we're
looking at percentage terms

and do your best to stick to
them right same as we spoke

of this then you're going to
need to be disciplined and

actually allow your discipline
to formulate and stay okay when

your targets and set these
profit cut off points right if

know 6%5% is a good one that's
pretty much a nice solid win

irrational cocky and arrogant
and it's going to keep you in

of course when you're trading
with some serious capital is a

lot of money so be disciplined
set these profit cut off points

decisions oversizing your
positions and your discipline

and no loss and then you can
just close out enjoy the rest

green. So when it comes to
targets we also have to do the

you can work for it. You can
save it out your own money. Um

achieve consistently. Set
targets that are going to get

are ways to get the bigger
capital there are ways to get

know you have to work for it.
You can either get funded or

irrational decisions oversized
trades and things like this now

made all week you know even in
a Friday session and then

you're going to feel really
stupid so be disciplined with

especially when starting out
it's good to set strict profit

as a trader and you might think
you know let's say you make 10%

have an enjoyable and more
relaxed training career.

cut off points. Now is one of
the hardest things to stick by

So in the previous video we
actually spoke about loss cut

right? You have to be
realistic. Set targets you can

consistently okay early days of
trading you're going to be

actually achieve and it's
going to give you a more

when it comes to trading and
when it comes to actually

that you be realistic, okay?
Set targets that you can

Now, when we set our targets
for trading, I do recommend

looking for huge gains right
you might be trying to flip a

the for you know, $5, 000 a
month, 10, 000 a month. But you

means you can be out living
your life and actually still

times in the market and it
allows you to actually relax

you don't have to be sat at the
charts 24/ 7 doing nothing

targets in your trading plan as
weekly targets monthly targets

basis on a longer time frame,
weekly, monthly and yearly.

consistently, okay? It doesn't
take for loads of huge winners.

have a challenge achieving that
every single month

and pushing and pushing and
pushing, right? 90% of traders

looking for those targets per
week, per month, per year. I do

long as those other two winning
weeks really blow the roof off

rolling, keep the ball rolling
consistently. This is great but

to goals that are almost
unachievable, right? Goals that

ourselves, right? Let's say you
have some business goals or you

winning trades every single
week okay and we only have five

time to hit our goals without
stressing ourselves out and it

better to look on a monthly
perspective it gives us more

actually achieve. Now, as
traders, as entrepreneurs,

to be longer term traders and
others of you may just want to

allows for a losing week two
losing weeks even in a month as

days to do that so personally
from my opinion I do think it's

targets every single week,
right? That means we have to

you're not going to feel bad
about that slow week, right? We

formulated we make you know we
make no percent right we make

formulated trades, no high
probability setups came to you,

so you stayed out the market
but then the next week you have

damn we didn't hit our target.
If you're looking at at a

weekly basis on a weekly time
frame right we're going to rush

those targets month in month
out if we're looking on a

achieve our targets and pretty
much low stress we can achieve

prefer to look at monthly this
means we have four weeks to

slowest three weeks ever and
end the month, you know, maybe

Um and weekly is too short a
time frame. Sometimes I will

make 15% in a week, 20% in a
week and then I'll have the

find that many high probability
high quality setups within that

be thought of on a longer time
frame basis now per Personally,

then win a trade or win 2
trades in the same day is is

make 15%. Now that's going to
hit your monthly target and

target so while 2% a day seems
kind of easy when you think

to go for daily targets. Now I
I see among the community

there make another 4% that same
day before you are at your 2%

achievable. Now it sounds easy.
It sounds good on the forefront

risk reward if I'm trading 2%
risk per trade. That's

the processes rather than
focusing on quick money. So

weekly, monthly and yearly time
frame. Okay? There is no need

the way forward and it's the
way to actually really focus on

000 that month so if you think
about profit targets in

allow you to master the
processes and then you can move

treat that as oh I've only made
$10 this month treat that as

money okay this should be the
practice the practice amount

a much more fulfilling journey
in trading and it's going to

month this gives you a
realistic boundary to work

account and get an account
funded for you if you prove

should never feel forced to
take trades and by setting

zone where you're risking too
much money and ultimately could

then pushing yourself too far,
pushing yourself into a danger

a week that blows the roof off,
you make 5%, you make 10%, you

you're aiming for 10% a day,
right? Uh and that's not

targets in monetary values you
start thinking about you know

percentage terms now if you
were to think about that $10 a

lead to you blowing up your
whole account and losing

from the actual trading
processes and focusing instead

trading you've just started out
you have $100 account right you

into this game is the most
important thing right there is

quite unlikely right unless
you're sitting there for 24

ourselves okay and let's say
one week there are no setups

need to make another 4% before
the day is up now chances are

higher time frame basis if you
are like myself you probably

should really be focusing on
the process which is why I

weekly, at a monthly
perspective instead, let's say

you have that that no percent
week, you no formulate, no

when we come to setting our
targets we should think on a

1-2 risk reward trade or 2-1-1
risk reward trade right so you

when we look at these targets
we should be looking on a

I'm trading for money. I'm not
trading for retirement as such.

to make in a week in a month
and how much can you

$100 account you really
shouldn't be doing that to make

need to worry about the money
yet because there are ways to

before the day is over if you
want to hit your target and you

want to keep this consistently
rolling you need to win another

have a win on Monday a win on
Tuesday and then you have a

move on to you know larger
accounts of your own and then

yearly targets. Yearly is too
long of a time frame, right?

month week that blows off that
makes the whole month, okay? So

percentages rather than the
monetary value now the reason

towards and we need to think
about it in percentage terms

How we doing everyone? Welcome
back to the course. In this

relax refine refresh and wait
for the new trading session so

might end to make $10 a day Now
when you think about that

I want to make 10% every two
weeks, I want to make 10% a

trades left right and center
chances are you're not going to

you think a percentage turn
that's going to allow you to

look in percentage terms is
because let's say you're

turn 10% a day is that an
achievable return no think

look at weekly targets and I
don't really look too much at

remove focus on the monetary
side of things for the early

on the monetary value that
you're trying to make right if

for the month and allow
yourself some time to you know

you had a hundred thousand
dollar account trying to make

that achievable no it's not
right so if you think about

going to aim to make per month
so how much you're going to aim

right? What's going to lead to
if you do go for targets like

loss on Wednesday so you've
achieved your 2%2% on Monday

one single 24 hour time period
okay so targets really should

it you know you think let's say
then you have a in a week you

then when you make these
amounts when will you actually

about it just initially when
you actually think deeper into

watching and I'll see you
there.

setting those loss cut off
levels so that when you lose a

have to cover these things
right? When are you going to

the market at one time so you
to actually lose a trade and

that is not going to happen
right there are only so many

hours in a day there are only
so many setups formulating in

and Tuesday now on Wednesday
you're actually down 2% so

cut off your trading for the
week for the month and allow

going to be a winner if you
lose a trade one day you are

going for $10 per month on $100
account accept that right don't

going to be down 2% and now
you're going to have to from

you made ten percent now look
at that on a higher time frame

towards and it allows you to
focus on the percentage gain of

your results so in early days
coming from this course you

trying to get a quick flip and
trying to get a quick dollar.

lose a trade one day which you
will right not every trade's

your account over the monetary
value so when you're trading

when I do my targets, I go for
monthly targets. I don't even

but actually it's not all that
easy. The reason B is if you

making 1% in a week, 2% in a
week, but it's really that

going to have a much better
experience you're going to have

hours and you're taking stabs
at random currency pairs taking

on to the higher capital you
can move on to funding you can

you can actually see the money
coming in because you've

profit targets in percentage
terms and look at this as okay

mastered the processes focusing
on percentages rather than

dollar account trying to make a
thousand dollars a day. Or if

0% that week we're going to be
beating ourselves up Thinking

percentage terms rather than
the monetary value you're

beginners going for 2% a day
right? Thinking yeah 2% a day

a higher capital account if you
are trading with 50K that's 5,

So think about your targets in
percentage terms always. It's

000 that month right if you're
trading with 100K that is 10,

is nice and easy. That's one
winning trade at one to one

so that we have our plan in
place and our goal to work

goals smashing your processes
and you need to completely

money right you start thinking
about what you could get with

about that same percent on 100
grand account $10, 000 a day is

fulfilling profits off a $100
account right but you don't

for this is because when you
start thinking about profit

everything you have so it's
better to look at the market in

this is over leveraging
breaking your plan and actually

ten thousand dollars a day. Now
it's just not going to happen

days of trading at least
Another reason why it's good to

day does not seem bad but when
you think about the percentage

going to aim to make per month?
What can you really achieve and

achievable. That is the same as
if you had a ten thousand

realistically achieve it's
something that we need to know

yourself some time to you know
restudy, refine, refresh. Now

set that profit cut off point
accept the profits for the week

video we're going to be talking
about targets and guidelines.

recommend thinking in
percentage terms if that means

huge part of trading it has to
be inside your plan and you

thing to master you need full
focus on actually smashing your

a reason that over 90% of
traders lose it is not an easy

because at the end of the day
you are not going to make

get money you know you can work
you can even go for a funded

focus entirely on the process
for now which of course getting

that money when you make it you
start taking your mind away

right so I always recommend
looking at targets as

So in the previous video we
spoke about risk management and

targets and guidelines really
come down to how much you're

on the flip side of this we
have targets. How much are you

getting any worse right? Risk
management of course being a

certain amount per week you'll
stop trading to avoid risk