Trading is not about making goals for gains over x periods of time. I used to be in sales. I used to make goals all the time-- 20 sales in one day, 100 in a week, beat so and so in a one-on-one duel, etc. That was fun. If I the goals were missed, I still came out on top, because I made money.
This is trading on the financial markets. You are messing with a mental monster and what will lead to a $500 ruin.
Let me draw up a scenario that I promise you you'll confront. Let's say you need 30 pips to hit a goal. Your trade is 26 pips ahead, then it reverses and you take a loss.
The other scenario is you might 30 pips to hit your goal, take it out at 30, and then it runs to 75. You lost out!
I'll repeat. Take what the market gives you, and do not be concerned with quantity of pips, dollar gains, % of gains, etc.
I have records of % of gains over the last year, month, and week. I don't discuss them. They benefit no one, except my bottom line. We are also all different. When you say $500 to $15,000 in 16 months, I'll tell you it is possible. That's only 27.3% compounded monthly.It still did you no good.
Learn to roll off your back, then get up on your fours, then crawl, then walk, then you can put on your running shoes. I'm being nice in saying that. It is a step by step process. Literally, I ran the 5-yard dash in 5.2 seconds at 52 years old (Honest, no play on numbers.). I did not do that when I was 6 months old, As an analogy, you are, as a trader, 6 months old or less.
Just take it a step at a time. You won't be sorry.
YES i know what you people are saying are correct but what amount of pips or $ should i look for everyday !? i decided to put on only 1 trade a day and that on the basis of fundamental analysis andkeep my everyday TP or SL - 20-30$. what do you say?