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What is your daily profit target

  • #21
  • Apr 24, 2018 5:11am Apr 24, 2018 5:11am
I set first my daily loss (in %) when I enter on a trade.
And that % depends on a lot of things:

The account size.
The type of setup.
The market condition at the time the setup appears.
And how the day is going in relation to other previous trades.

And finally I try to set the TP at least equal to the risk.


But like my signature says: My system is simple ...
POW!
  • #22
  • Apr 24, 2018 5:52am Apr 24, 2018 5:52am
I don't have any daily profit target set.
I set the size of a trade according to my balance and MM rules and then I try to ride the trend.

Sometimes the trend fails in less than a day like below:

Attached Image


And other times the trend last several days:

Attached Image
Simplicity is the Ultimate Sophistication.
  • #23
  • Apr 24, 2018 6:01am Apr 24, 2018 6:01am
Quoting broketrader
I don't have any daily profit target set. I set the size of a trade according to my balance and MM rules and then I try to ride the trend. Sometimes the trend fails in less than a day like below: {image} And other times the trend last several days: {image}
yep it happens i use 30 min or 1hour for trading for and day chart for trends good luck with your trading
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  • #24
  • Apr 24, 2018 6:16am Apr 24, 2018 6:16am
Quoting Aussi
what is yours and why you have that target
//-----

assuming your referring to spot forex....

0.1% non compounded..... irregardless of account size......

reasons are...... realistic , achievable , long term survival....... to name a few......h
to trade and code, keep both simple... no call to impress....h
  • #25
  • Apr 24, 2018 6:50am Apr 24, 2018 6:50am
Quoting hayseed
{quote} //----- assuming your referring to spot forex.... 0.1% non compounded..... irregardless of account size...... reasons are...... realistic , achievable , long term survival....... to name a few......h

""to trade and code, keep both simple... no call to impress.... i just love it wish i had thought of it
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  • #26
  • Apr 24, 2018 9:37am Apr 24, 2018 9:37am
Very true that every trader has different trading styles as well as trading requirements. So what is the most appropriate profit figure is for you may not be the right figure for me. However, I can understand the fact that we sometimes feel curious to know about the profit margin from the currency investment that other fellow traders are able to generate. I personally think that pip is more appropriate than absolute figure of profit and my trading strategies differ according to situation and I am trading as a part term trader. So can’t figure an absolute figure actually.
  • #27
  • Edited 10:17am Apr 24, 2018 10:00am | Edited 10:17am
Quoting hayseed
{quote} //----- assuming your referring to spot forex.... 0.1% non compounded..... irregardless of account size...... reasons are...... realistic , achievable , long term survival....... to name a few......h
Similar to hayseed...realistic , achievable , long term survival...and also minimal heartburn (low drawdown)

Long term/retirement accounts (less risk)
--------------------------------------------------
- 0.03% per day per pair (that's about 3+% per month trading 5 pairs)
- Max total account drawdown must be kept under 0.7%

Shorter term accounts (more risk)
---------------------------------------
- 0.075% per day per pair (that's about 7.5+% per month trading 5 pairs)
- Max total account drawdown must be kept under 1.8%
  • #28
  • Apr 24, 2018 10:35am Apr 24, 2018 10:35am
1 perfect trade per day if the conditions are met (if they are not there i move on wih my life until the next day)

20/30% per trade
  • #29
  • Apr 24, 2018 5:00pm Apr 24, 2018 5:00pm
5-10% of my acc in every trade (not daily)
  • #30
  • Apr 25, 2018 4:18am Apr 25, 2018 4:18am
Quoting zznbrm
{quote} Similar to hayseed...realistic , achievable , long term survival...and also minimal heartburn (low drawdown) Long term/retirement accounts (less risk) -------------------------------------------------- - 0.03% per day per pair (that's about 3+% per month trading 5 pairs) - Max total account drawdown must be kept under 0.7% Shorter term accounts (more risk) --------------------------------------- - 0.075% per day per pair (that's about 7.5+% per month trading 5 pairs) - Max total account drawdown must be kept under 1.8%
amazing parameters
  • #31
  • Apr 29, 2018 1:28am Apr 29, 2018 1:28am
Quoting havo
1 perfect trade per day if the conditions are met (if they are not there i move on wih my life until the next day) 20/30% per trade
and have you done it ?
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  • #32
  • Apr 29, 2018 4:47am Apr 29, 2018 4:47am
I call bs on your 1000 profit target each day... Why would it be so low? Don't most of use make 100K per day?
The only system that will work is one designed by and for yourself.
  • #33
  • Apr 29, 2018 2:00pm Apr 29, 2018 2:00pm
My personal tip is to set a weekly pip/% goal, as it is less stressful. The trick is to stop trading when this goal is met. Don't let greed get the better of you.
  • #34
  • Apr 29, 2018 3:00pm Apr 29, 2018 3:00pm
Quoting Aussi
{quote} and have you done it ?

All the time, every time =) not hard at all once i realized i make good money when i follow the rules.. and when i dont i get fkd bad.. wich i dont want it of course !!

Want money? = do it right

Want to lose? = do whatever the hell pass on your brain everytime
  • #35
  • Apr 29, 2018 3:16pm Apr 29, 2018 3:16pm
Quoting SkullCandy
{quote} Thats why i trade with forex and binary aswell, if i do not do forex,i achieve my target at binary,sometimes i do both,then that day is super amazing for me lol.

what time frame do you trade binary ?
  • #36
  • Apr 29, 2018 3:53pm Apr 29, 2018 3:53pm
Do your plan. Stick with it.

Dumb time based charts.

Target should be not to kill your account. Every day then you can make money. But you wont.
Its so important to find your own trading style.

Dont waste time with thought like how much should I make. Only time will tell how much you can handle.
Everyday better.
  • #37
  • Apr 29, 2018 3:58pm Apr 29, 2018 3:58pm
Quoting havo
{quote} All the time, every time =) not hard at all once i realized i make good money when i follow the rules.. and when i dont i get fkd bad.. wich i dont want it of course !! Want money? = do it right Want to lose? = do whatever the hell pass on your brain everytime
thanks mate thats what i like to see a succsessful trader
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  • #38
  • Apr 29, 2018 4:06pm Apr 29, 2018 4:06pm
Quoting bloodpoodle
I call bs on your 1000 profit target each day... Why would it be so low? Don't most of use make 100K per day?
used to do 10 trades and make $100 perday in 1hr on londen open . . if you had been watching the trade exployer i put on on here you would have seen it where i make 1000 per day but you must have been to busy
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  • #39
  • Apr 29, 2018 4:14pm Apr 29, 2018 4:14pm
Quoting Aussi
{quote} used to do 10 trades and make $100 perday in 1hr on londen open . . if you had been watching the trade exployer i put on on here you would have seen it where i make 1000 per day but you must have been to busy

Yeah i saw it it

your a great trader
  • #40
  • Apr 30, 2018 12:42am Apr 30, 2018 12:42am
Quoting goose4
{quote} Yeah i saw it it your a great trader
just a note mate i when learning i did 1 pair only for a long long time and built a small account when doing the 10 trades on londen open worth a try
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