For the first time since I started trading FX, I have been able to average a profit over these past few days back-to-back, percentage-wise. Now, I know I shouldn't start patting myself on the back yet as this is not an indication of success in the least.... but it has given me some breathing room as far trading self-esteem is concerned, if not monetarily (I do have a day job).
However, I would like to get opinions of the more experienced traders here as to at what point they tell themselves "stop right here, I have enough realized P&L for the day to take it easy!". The reason I mention realized P&L specifically is because that is what really counts, in terms of real gain or loss. This thread probably doesn't apply to those only trading once or twice a week.
As a point of reference, my average is 7.5% of account value on average over the last 5 days. Obviously, if I keep the profits in the account, it will be increasingly tough to maintain this kind of average, so my plan is to make a weekly withdrawal approximating the total profit made
However, I would like to get opinions of the more experienced traders here as to at what point they tell themselves "stop right here, I have enough realized P&L for the day to take it easy!". The reason I mention realized P&L specifically is because that is what really counts, in terms of real gain or loss. This thread probably doesn't apply to those only trading once or twice a week.
As a point of reference, my average is 7.5% of account value on average over the last 5 days. Obviously, if I keep the profits in the account, it will be increasingly tough to maintain this kind of average, so my plan is to make a weekly withdrawal approximating the total profit made