Daily Profit Goal

Depends on your system, education, risk/profit MAE/MFE !!!

I set makeable session goals (3 sessions a 24 hour day), increase contracts depending ongoing volume.

When losses occur, targets become breakeven on the session.

Session targets are smaller than most, but with size very happy rewards. At best, 2 trades taken a session.
 
v-shape-0DTE said:
The OP can do whatever, but I guarantee it won't work. Very few traders that can survive trying to grind it out. You need to have a big win every now and then in order to survive so it can eat away losses. You also have to know when the real good opportunities come along. Not everyday is equal. Take a day like April 4th, where the Q's tanked into the close. If you had 0DTE puts you could have made bank, but you would have stopped at $500. Then you get chopped away the next day.

Set a weekly goal, it's way better. Trust me. And with the weekly goal, secure a win and then have some money you can play with to get further upside, but also protect your weekly gains. That is how you can grown an account. If you can rip of like 10+ weekly gains in a row it will make a huge difference. This day to day stuff is guaranteed to not work. Try to win the week, not the day.

Something like this is most likely.

Day1: 500
Day 2: 500
Day 3: 500
Day 4: -150
Day 5: -300
Day 6: 500
Day 7: -750
Day 8: -500
Day 9: -750
Day 10: 500

2 weeks go by and you end up close to BE if you're lucky.
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You're a LIAR. EVERY day is a V-recovery day, so there is ZERO RISK!

You have been feeding us that bullshit line for years and years. Why did you suddenly find the Jesus of critical thinking and planning, instead of the reckless and feckless nonsense you have been shoving down everyone's throats for all that time? You, Rickshaw and Eqtrdr finally have a circle-jerk that did not end in mutual satisfaction?

You finally had to close some trades that lost you all your gains, pipsqueak?

My GOD, the irony and karma is thick.

Whatever you posted there, which is not a statement, is bullshit.

Post your statements, or continue to be disbelieved. Redact the personal info...That is all that is required for us to believe you, man!

God, you are so STUPID!

I have mentioned recently, somewhere in one of these threads, that I have an open position of Dec MYM @ 40999.

See how easy that is? And when I close the trade, it will be in my journal. Neat, clean, compartmentalized.
 
If you are scalping with high accuracy. Yes I think you can be profitable everyday and quit while you are ahead. But if you are a day trader try to risk small and make big gain, I found it impossible to be profitable everyday. If someone is able to do that please show me.

Thing with try to scalp your way back to green everyday is, you are guaranteed to encounter a day where nothing is working and you end up wiping out weeks or months of your profit. So I don't set daily goal, only weekly goal to try to be green every week no matter what is the amount.
 
doubledoubledoublecup said:
If you are scalping with high accuracy. Yes I think you can be profitable everyday and quit while you are ahead. amount.
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Is that based on your own long-term experience or .... just what you believe (you do say "I think")?

It helps to elaborate for others to understand where you are coming from to judge whether this statement has any value to it or not.
 
Jdesey said:
I believe this is going to be a key thing for me. Have a goal,,, right now that is to make $500 in a day,, hit it,, and then stop trading. I mean no trades, turn off computer, leave , go do something outdoors. Get away from Cell phone and computer so I am not tempted to trade.

This to me is to treat it like a job. I am trying to make a living at trading. I can be profitable for the day and VERY often give it back as the day progresses.


anyone do this kind of daily profit goal thing? thoughts? Yes, I know some will say why would you stop if you are trading well.
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You can't control the markets. The only control you have is what you do. Your goal should not be a fixed dollar amount, your goal should be to trade well. Take your set-ups and accept the results. If you have a system with a decent edge you'll make money in the long term.

If your goal is to trade well, at the end of the day you control whether you accomplished your goal.
 
hilmy83 said:
OP should make his daily profit target, and withdraw everyday if the broker has free ACH withdrawal option.

That daily dopamine hit is going to be sick :cool:
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yes my broker allows free ACH... and yes the dopamine hit is nice... it is about me FEELING good about my trading... I do not have to make $1MIllion to do that. this is similar to being up at the blackjack table and GETTING UP, and go cash out! very few people do that.
 
UPDATE--- I hit my daily goal on Thurs and now again on Friday and STOPPED trading.. it feels very good. For me this is the right thing. I hate how I feel when I let a winning day turn to a loss day due to more trading. This FEELS so much better.
 
Jdesey said:
UPDATE--- I hit my daily goal on Thurs and now again on Friday and STOPPED trading.. it feels very good. For me this is the right thing. I hate how I feel when I let a winning day turn to a loss day due to more trading. This FEELS so much better.
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Just keep doing what you feel is right man. You'll learn a thing or two of what not to do. But just let the pnl guide you.
 
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