What is a good profit goal on a forex trade? -

I am starting small with a margin of risk of $12.50. I know the earning potential is pretty unlimited but how to I know when to close the deal and take the profit. I dont want to be greedy. I am thinking $12.50 would be a minimum. What do you thing? When I open a position in the forex market, I have a reason for it--technical or fundamental. When the reason no longer exist, I close that position. I do not use a fixed number or percentage, but let the market tell me when to get off. Hope this helps. - Jim http://jsforex.blogspot.com If something doesn t get to your profit goal, what are you going to do? Wait? If something gets to your profit goal, what are you going to do? Close the position with a small profit? This mean that you are closing positions that are moving in your direction while holding your losers. This is a recipe for disaster. Professionals don t use profit targets. They may be wrong 70 - 90 % of the time. Their profits come from riding a few big winners each year. $12.50? On what size, on what time frame and on what pair? Regardless of the situation I think its way too small for anything greater than a 10000 mini lot, but you may be trading less if you your broker allows. A general rule: look at a chart of what you are trading, look at the range of moves you expect to catch. Your stop should be at most one third of the expected profit you want to make and probably more than one fifth depending on the volatility. It doesn t sound as if you have a plan or a system. Read what some of the others here have given you as answers because there is some good information here. I would suggest that you don t use any real money, no matter how small or insignificant it may seem, until you have done more research. Take your time and do your homework because there is not reason to rush into Forex trading. Just remember, it is better to get rich slowly than to get poor quickly. Best of luck to you in your trading endeavors. dear sir, forex is not easy and got high risk.. u must know about calculation win and lost. please trade less than 3% from margin and make sure u know about this.. please set target lost and target win for day trading.. if target win archive just stop your trade and when you lost target reach please stop your trading for that day, and the last tips please compund your profit.. last advice from me.. money management , not greedy and planning when do forex trading is they key success in forex.. if u not follow this rules i confirm all your money will be gone.. tq cheers, http://saving-money-techniques.blogspot.... A good place to take profit is just above your support line or below your resistance line depending if your going short or long. You have a stop loss in place right? So just make your risk reward 3:1 or 4:1, why be greedy ? You do know what I am talking about don t you? if you don t, you shouldn t be trading You seems to have a good beginners knowledge. In forex market I would advise you to be cautious and adventurous at the same time. Draw your boundaries and play with in yourself. Also keep your eyes and ear open for accumulating extra knowledge on how the market move from here.