I would recommend that you keep your goal the same (9 pts) for some period of time until you consistently hit that target week in and week out. Only then would I raise the bar a bit ... I've seen lots of traders over time have a good week and then shoot for the moon the next week, trade much more aggressively, with lower probability trades and end up not only losing money but also adversely impacting the self confidence they'd built up in the prior week(s). You can't go broke with profits no matter how small.
Met my Weekly Goal for the First Time
- Thread starter Flashboy
- Start date
I would recommend that you keep your goal the same (9 pts) for some period of time until you consistently hit that target week in and week out. Only then would I raise the bar a bit ... I've seen lots of traders over time have a good week and then shoot for the moon the next week, trade much more aggressively, with lower probability trades and end up not only losing money but also adversely impacting the self confidence they'd built up in the prior week(s). You can't go broke with profits no matter how small.
Hi, I know a awesome trader who told me to set goals. Not crazy 10pts day goals but small 1-2pts day goal. He said it helped him to be focused and realize he was there to make $ and not just for glory. Overtime he was able to make lots more and yet kept the mindsets that he could trade more volume and with only 1-2pts a day could be a successful trader. Once again congrats flashboy>
me too.....
You just passed the most important hurdle of trading.
You gave yourself a measure Psychologically.
Excellent work.
Don't let fear hold you back now and don't buy into the trading axioms.
You are successful because you had a measure of success and as long as you keep having a measure you are on your way to achieving it.
My only advise would be to make it easier on yourself and trade an easier market like the NQ or the ZN(bonds).
You gave yourself a measure Psychologically.
Excellent work.
Don't let fear hold you back now and don't buy into the trading axioms.
You are successful because you had a measure of success and as long as you keep having a measure you are on your way to achieving it.
My only advise would be to make it easier on yourself and trade an easier market like the NQ or the ZN(bonds).
First of all, congratulations.
I do not set monetary goals. My goal each day is to trade my technique faithfully without allowing my mind to allow me to vary from the proven path.
Sorry to say I am not always success. But my % of staying on the path is steadily increasing.
Wishing you continued success.
O