Strategy
To make 400pips per month? You need a backtested and then forward tested strategy that fits your schedule, fits you personality, has low drawdowns so you don't spend half the month making up what you lost in the beginning of the month., and also need to make an average of 400pips. (20 pips per day by the way)
Do you have any other source of income? Better if you do because then when losses come in your trading you won't want to kill yourself because you aren't sure how you are going to pay for your rent/mortgage and the internet connection that you need to make the money through trading.
If you have not ever traded before, then you are in for a rollercoaster of emotions that you have never felt before in life. You will lose the first two trades that you make live. Then you will get scared and not take the next two trades because of fear and they will be great profit that more than makes up for your losses. Then you swear that will never happen again and trade the next trades. You will go through a flat period where there isn't much profit or loss. After that there will be some more losses and you will go through the same cycle again. Sometimes you will exit to early because a trade went against you by only 5 pips but even losing $50 scared you so you got out for the meantime. Then suddenly price surges in your direction and you get upset at the markets. Then your mentality becomes a war mentality instead of a calm, focused professional. If you take on that war mentality then you will surely lose.
Keep this all in mind because trading is a great business if you design a system that works, have the money to fund the account, have a second income at first to lessen the stress of expectation, and study the psychology of trading 10x as much as the actual trading. Stick to the system no matter what and manage your money so that you don't get greedy when there are profits and fearful when there are losses.
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