When it comes to Forex trading, being consistent in your trading is huge. If you're great one month and the next month you lose everything and then some more, no one takes your trading abilities seriously.
Honestly, they shouldn't and neither should you. If this sounds like you, then you are probably trying to make a set number of pips per day (like 15 pips per day). Yes, that is a great way to lose all your money.
Now in the title I promised I would show you how to make 15 pips per day, and I will. However, you need to know that focusing on making any set number of pips per day is a recipe for disaster.
Now, why is that? It's really simple actually. You see, the Forex market is rather random. It's not completely random, but it is quite random. That means that on any given day, you may not achieve your "quota" of pips.
This will frustrate you, and that leads to an emotional state that causes you to be more prone to losing even more.
Instead, to make 15 pips per day, you need to look at things in the long term perspective. You need to think weekly. Think about making 75 pips by the end of the week. This will take a huge amount of pressure off of you.
You'll notice a strange thing. When there isn't pressure on you, you will trade better. In fact, you will trade so much better that making 15 pips per day becomes almost easy.
The moment, however, you change focus and start thinking about the daily amount, that's when you will go into a negative spiral. Focus on a longer term goal, e.g. weekly, and notice how making pips isn't hard any more.