DAY TRADERS

K-Pia said:
There is no formula for success.
If it's not that your profits must outweight your losses.
Theoretically, one should have an antifragile as well as an anticipatory system.
By Antifragile I refer to the Payoff (R:R). By Anticipatory I refer to the probabilities (Timing).
There a lots of subtilities. But nothing's worth experience. Even not these abstract concepts, guidlines.
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When I used to work for others, most people around me were more concerned with nice pictures and fancy presentations, than getting the job done!

In large organizations, then amount of repetitive work is unbelievable, with different people in different departments doing the same work over and over - this means only one thing, and that is, bad management!

The main advantage with trading from home is that you do not have to deal with people, and this is a major advantage in relation to getting things done, and keeping you sane!

J_S

th
 
J_Smith said:
The main advantage with trading from home is that you do not have to deal with people, and this is a major advantage in relation to getting things done, and keeping you sane!

J_S
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I really like being around people. Some people would rather be around few, or alone. Though I don't like being the center of attention.

When I was thinking about aiming at making more money than I needed via trading, one of the factors was a comment a friend of mine made who had pursed extra money all his life:

"When you have extra money, you rarely have to deal with people you don't choose to. When you are poor or limited, you often have little choice."

Definitely a motivating factor.

Perhaps the best investment you can make in life... is in people.
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As to the OP-- I don't have a profit target, tho as one trader said: if a 100 ticks for the day is attained, one might chose to quit for the day.

What I do have is a goal for the day. Your plan has a lot to do with it. Perhaps it could be to catch a significant swing, or to catch the high or low of the day. I keep a record of what the "best hindsight trade(s) of the day" was -- and notice what they are and how they change over time. I have a goal of catching more of them. That kind of thing.
 
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Hooti said:
I really like being around people. Some people would rather be around few, or alone. Though I don't like being the center of attention.

When I was thinking about aiming at making more money than I needed via trading, one of the factors was a comment a friend of mine made who had pursed extra money all his life:

"When you have extra money, you rarely have to deal with people you don't choose to. When you are poor or limited, you often have little choice."

Definitely a motivating factor.

Perhaps the best investment you can make in life... is in people.
............
As to the OP-- I don't have a profit target, tho as one trader said: if a 100 ticks for the day is attained, one might chose to quit for the day.

What I do have is a goal for the day. Your plan has a lot to do with it. Perhaps it could be to catch a significant swing, or to catch the high or low of the day. I keep a record of what the "best hindsight trade(s) of the day" was -- and notice what they are and how they change over time. I have a goal of catching more of them. That kind of thing.
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Most people know it all, you are always better off to use your own head and forget about others, no matter how much inspired you might be!

J_S
 
As a reminder, most traders are not profitable. Yet, the low percentage of profitable traders...some are trading alone from home while others are trading with a small group (e.g. renting/leasing an office space, co-working location).

I prefer to trade at home but I was more profitable in a small group environment when I shared an office space with several other traderes...the latter mainly due to the in person collaboration. I know a few traders doing both...they trade sometimes from home and other times they are in a co-working environment.

Everybody is different, different home environment (single, family, renting, house) or different financial situation...these factors will determine if trading from an office is more suitable or trading from home.
 
If one has to listen to others to make money trading, then one still has a long way to go in understanding price movements and what happens if you stay with a losing trade too long.

There are but a few "Key" things that can help one to identify a low risk trade, and collaborating with other people is not required for this to happen.

The only difference between one who can see, and one who can not see, is how one thinks!

the mind do seek..all but the meek
the more we find..we do stay blind
to see the way..and make some hay
stop being tired..by being inspired!

J_S
 
qxr1011 said:
“Work will set you free”
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work no good..if head like wood
to see the trees..must act like bees
fly here and there..not everywhere
the scent do show..what bees do know

most look at bars..as if like stars
and dream of such..that way too much
act like the Jew..who is so shrew
small bits do make..one big fat cake

this Key we speak..is not so bleek
tis simple fact..but one must act
for most do freeze..when in the breeze
and wonder why..get wet from Sky

one, two, three..is A, B, C
The Count do add..he never sad
the bars do show..what others know
for deep inside..it flows like tide

the tide do move..into the groove
but ebb will show..as pure as snow
ignore the fact..get caught in act
and be like all..who stay so small

to change the fact..alter the act
backtest not great..as out of date
to see the now..just lift the brow
and count the bars..for they not stars!

J_S
 
RR, as said by many others setting a daily target may distract you from the process and get you into Greed/Hope/Fear mode which is the death of most traders.

So, my humble advice is focus on your process and leave the daily target for after trading statistics.

This said, on average anything between 0.5% and 2% of your capital as average daily gain is achievable (no use of leverage)
 
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