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Do you have a daily profit target?
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Do you have a daily profit target?

  #1 (permalink)
Site Administrator
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Do you have a daily profit target?

New poll, please vote and discuss!

Do you have a daily profit target?

Total votes: 1014
 


Mike

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  #2 (permalink)
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  #3 (permalink)
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Do you have a daily profit target?



Big Mike View Post
New poll, please vote and discuss!







Mike



Mike did you know the poll doesn't show on Tapatalk or futures.io app


Sent from my iPhone using Tapatalk


Last edited by rassi; October 4th, 2017 at 02:28 AM.
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  #4 (permalink)
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rassi View Post
Mike did you know the poll doesn't show on Tapatalk or futures.io app


Sent from my iPhone using Tapatalk

Yes, its a limitation.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
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  #5 (permalink)
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I am unlimited, however, extremely careful

No Targets.
The market giveth and the market taketh, I am a quiet lurker waiting for opportunity. Targets are random emotional limits...

I do have a frustration level that may require a short break and mental resettlement.

Regards to All and GOOD luck in your trading...

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  #6 (permalink)
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MShead View Post
No Targets.
The market giveth and the market taketh, I am a quiet lurker waiting for opportunity. Targets are random emotional limits...

I do have a frustration level that may require a short break and mental resettlement.

Regards to All and GOOD luck in your trading...

Pretty good way to put it, if I may say so myself.

I'm somewhat the same way, if I'm "In the zone" with the market, I don't limit myself. If it's clearly not my day, I walk away and come back later.

I also have setups that I trade fairly specifically and if I see them coming, it's game on.

You miss 100% of the shots you don't take. - Wayne Gretsky
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  #7 (permalink)
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I like how MShead put it as well. An arbitrary number does not take into account market conditions, mindset, or any of the components that allow me to trade well. It sounds silly but what limits me the most is my mindset or emotional condition that usually manifests in fear, disgust, or euphoria. The next thing that limits me most is market condition that cause me to misread or lose edge.

When I started trading a daily profit target was exciting and natural. I mean I am trading to make money right. It also arbitrarily kept me from giving back once I reached expectations.

Truthfully I still have a daily $ goal in the back of my mind but I would like to get rid of it as it is not anchored to what good trading is. Some days I have made 3X's my target with good conditions in me and the market and other days I have forced trades trying to get that one more trade to reach the goal and ended negative.

I am still learning and trying to figure everything out but have come to believe that process is the goal. $ Average will follow.

Mighty

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  #8 (permalink)
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Big Mike View Post
New poll, please vote and discuss!



Mike

No. The markets tell me how much I will make.

Sent using the futures.io mobile app

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  #9 (permalink)
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Anyone else?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #10 (permalink)
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The market is different and being able to understand when you want to be mostly day trades is upto the trader. However if some of the moves one wishes to capture.... it will not be on a daily timeframe. These will mostly be swing and some ofcourse holds on weekends. In the last month or two....there have been many a time held the weekend and days into the week. Yes risk mgt is very key at these times. However you got to do what you wish to. R:R is appropriately distributed in the market.

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