Realistic consistent daily profit goals

Quote from Pauly:



My account is growing, and I know before long I will have a large enough account to walk away from my job and my trading if I choose to.
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Substitute the word "think" or "hope" for "know". You don't know Jack. He's the dude that claimed to capture three times the daily range, but is old and flat broke.

Edit: I'll be damned. Another Jack Hershey thread has been bumped up to the front and is 208 pages long.
 
Depends on the edge.

Some edges are net profitable over 12 months.

Some are net profitable over 1 month.

Some are net profitable over 1 week.

Some are net profitable every day.

Then, results are stratified according to daily return: between 1% and ....XX%?? :D
 
To track my profitability, I simply record my accounts equity at the close of every week in a spreadsheet. This allows me to calculate a number of statistics. I do the same for my trades, I record them all by strategy so I can see what is working as expected, and what is not. Limiting downside risk is more important to me than maximizing gains - I don't even use margin, much less day trading margin.
 
Does it matter, areyou going to stop if you made 1 % in the first 10 minutes. Coz you know a down day is around the corner.
huh
Its houdl not be a factor at all..too many parameter. A Loss target makes much more sense to talk about.
 
Quote from Roark:

Substitute the word "think" or "hope" for "know". You don't know Jack. He's the dude that claimed to capture three times the daily range, but is old and flat broke.

Edit: I'll be damned. Another Jack Hershey thread has been bumped up to the front and is 208 pages long.
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The rude comments are uncalled for, unwarranted, and unsubstantiated. I stand by my comments. The snarky comments make thoughtful commenters stop bothering to help others and ruin the forums.
 
Quote from Teycir:

I was wondering that wheter is it realistic or not to gain an average of 0.5% of profit (after slippage and commission) scalping stocks daily. What should a stock scalper set a realistic goal of % steady daily gain after slippage and commisions?
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I think profit goals are arbitrary and meaningless. You take everything you can book, ride the winners, cut the losers. Some years you'll do fantabulously well ('08-'09). Others will be far lower. The results will have nothing to do with target numbers.
 
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