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On a $40,000 equities account what should be my daily profit goal?
- Thread starter MoneyGod
- Start date
Quote from R. Raskolnikov:
Daily profit goals are for losers. Focus on taking the correct trades and managing them appropriately. I promise you, if you do that, the money will come and come in droves.
Exactly right. Any kind of market is not a regular paycheck. Sometimes there is nothing to do.
Yes, I noticed in my trading that when I dont pay attention how much I'm up for the day - I tend to be alot more succesful with my trades.
You 're over 25k which means you can day trade, focus on placing winning trades - rather than how much you make per trade - the money will catch up to you eventually. Of course make sure to have target stop losses / and profit taking levels when you're engaged in a trade.
$500 is like an estimate that I guessed, randomly. I mean I had a 5,000 account and I brought in 500-1200$ twice a week trading FAZ and SRS ... depends on your position size / risk tolerance / and strategy.
It was noobish of me to say $500, but let me correct myself - focus on winning - rather than how much you;re making and keep staring at how much youre up or whatever...that was your emtions dont get over you, and you dont become too cocky/overconfident.
Just make sure to have stop losses.
You 're over 25k which means you can day trade, focus on placing winning trades - rather than how much you make per trade - the money will catch up to you eventually. Of course make sure to have target stop losses / and profit taking levels when you're engaged in a trade.
$500 is like an estimate that I guessed, randomly. I mean I had a 5,000 account and I brought in 500-1200$ twice a week trading FAZ and SRS ... depends on your position size / risk tolerance / and strategy.
It was noobish of me to say $500, but let me correct myself - focus on winning - rather than how much you;re making and keep staring at how much youre up or whatever...that was your emtions dont get over you, and you dont become too cocky/overconfident.
Just make sure to have stop losses.
Quote from MoneyGod:
What is a realistic daily profit goal on an account $40k account, or would I just be trading (scalping) as much as I can within certain time frames whenever I see opportunity.
Ask shortie that question! (PM him-- meaning ET member shortie).
PS: Thanks for the fresh money you are bringing in the market.