why withdrawing daily doesnt look good? what is the problem and harm in it?
in fact some traders find it good to withdraw daily and they protect their profits safely in this way.
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exactly correct . i also think when you reach the daily target then its better to stop trading that day because whenever we enter the trade we are taking the risk. before many time in this way to go for more trade i lost of my profit and even loss also.
It is very necessary for a good trading results to end up the the in winning position. It will be very good sign for your confidence and psychology. If you will end the day in loss you next days trades will also remain under pressure and you will not be able to trade well.
Wise traders always end the day with profits and they do not go for more risk if they have earned few pips. It is the practice of novice traders they go for more risks if they win few pips and end up the day in loss.
First and most thing i would like to do is withdraw the profit as there is no guarantee that next trade will also result in profit, so it is always good to keep withdrawing profit and trade with same capital amount.
when i am getting profit. i withdraw it but not fully only 50% of it and the rest is kept into my account to increase my funds to trade more. actually i withdraw weekly.and some times i withdraw to my other account for situation like margin call.
It's a very good idea to compound your profit till $1000 and getting $10 daily. It means you have a very much realistic goal of $10per day and about $200 per month. I appreciate your thinking and in fact this is the think required by every trader if they want to survive in forex.
if i get profit from forex for sure I will withdraw the funds that profit ... after that I will use these profits to the needs of my life ...
while the system that produces profits will remain I maintain, I would not change ... unless it is necessary to update the system ...
Yes I do manage to make profits by trading and I normally wait for the right entry and exit levels for my trade and once I manage to make profits I stop trading and prepare for my next trade.