DislikedFirst I like your quote: Tricks and treachery are the practice of fools, that don't have brains enough to be honest , Benjamin Franklin
Yes, I have to say, I also started with those crazy calculations some years ago... meaning that I would try to "train the market" so that the market would "give me a calculable daily return"....
It doesnt work this way...
you will never be able to trade in a way that is consistent... you have to have an adaptable strategy....
to have say 1% everyday IS NOT adaptable, because the market might give...Ignored
and yes, you are right, this is another problem that people tend to make so often. They saw that they made some profits and say "it's enough, i will close everything " There is a nice thing in the market called "fat tail" . yes, it is not great to be on the wrong side of the 'fat tail' ..hehe.. but traders should keep their risk mngmt in check and GET OUT/ cut the losses short. And next time, maybe you will catch again a fat tail, but this time you are on the right side of the market, and now, it's essentially to let your winners run and to NOT have a dumb rule like "I made my target, get out" just stay there and try to earn as much as possible. Because market is not "consistent" and when you catch such a "fat tail move" let it run.
While on the other hand, it is a good idea to have a rule smth like "Well, I have already lost my t(period of time) X% so I am going to close my position now." but... :-)
anyway, I'm a little bit off topic.
all the best.