What is your daily target??

Hi:

Just curious about how you all set targets. I personally try to make 2% per day with minimal risk.

How do you all set your targets?? I know some people may set goals based on number of pips made and others may use percentages, I know this would also depend on the lot sizes used plus the size of the account.

Hoping to hear what works for you all.

I also have 2% Daily target, extrapolated to 10% weekly and 45% monthly.

As for how I set that target: by input parameter in my Expert Advisor. 😉

Freerenkosignals posted:
Hi:

Just curious about how you all set targets. I personally try to make 2% per day with minimal risk.

How do you all set your targets?? I know some people may set goals based on number of pips made and others may use percentages, I know this would also depend on the lot sizes used plus the size of the account.

Hoping to hear what works for you all.

imho 2 % with minimum risk ist in a long term not possible. If I can achieve 5 to 10 % per month in a consistent way I will be very happy.

Met a guy with a very interesting outlook. Just make 10pips = 1% of your account value and make 10 pips per day - day in and day out.

Another thing with FX. All traders want the same thing. Profit. Lets say this profit is $150k/year regardless of strategy or account balance.

A guy with a $500 account needs to run more leverage or make more pips than a guy with a $50k account. This is a difference is not often taken into account. Building an account requires a very different set of skills compared to cruise control on a $50k account. More often than not I see guys who double or triple accounts inside of a month. Ask what their balance is and invariably they give you a sub $5,000 number. Guy is trading like a demon and barely making a living. Take that guy - give him $25k and tell him to slow down and make you 50% over 2 months and everyone will still come out a winner.

I have always used a $ amount for the day. Stared with $20/day then 50-100-300 and $500. As my account grew, so did my confidence and daily target.

I need to get paid for my time and efforts. It's a job. You don't go to your boss and tell him 'oh whatever you feel like paying'.. or start the day with 'let's see how much I'll make today....'

It's all about the $. I am not here to stoke my ego with 'pips or percentages'.

 
 

focusedfinance posted:
Met a guy with a very interesting outlook. Just make 10pips = 1% of your account value and make 10 pips per day - day in and day out.

Another thing with FX. All traders want the same thing. Profit. Lets say this profit is $150k/year regardless of strategy or account balance.

A guy with a $500 account needs to run more leverage or make more pips than a guy with a $50k account. This is a difference is not often taken into account. Building an account requires a very different set of skills compared to cruise control on a $50k account. More often than not I see guys who double or triple accounts inside of a month. Ask what their balance is and invariably they give you a sub $5,000 number. Guy is trading like a demon and barely making a living. Take that guy - give him $25k and tell him to slow down and make you 50% over 2 months and everyone will still come out a winner.

Well said, makes perfect sense. So by saying this it is agreed that trading a larger account is much easier than trading small accounts, certainly less stressful.

I don't have a daily target. Sometimes I don't trade for a month and sometimes I trade every day. It depends on the market.

Daily target ?? No such thing is possible to fix in advance

My EA target is 25% -30% for each movement.



https://www.myfxbook.com/members/StingRay/contest-stingray/1264807

The best day target is no losing of money

I do trade until I reach 1 %
Then I stop trading and go swimming:)

1-2% per day. My semiautomatic strategy allows to do it. You can check it.

I like to aim for 2-5% on the days that I trade. Sometimes I hit 10%, other days I walk away from the market. Losing days are not as common anymore as what they used to be.

my daily target it not to loose money.

FXtrader2010 posted:
my daily target it not to loose money.

You are right, and to win a bit of course !

Look009 posted:

FXtrader2010 posted:
my daily target it not to loose money.

You are right, and to win a bit of course !

I take what I can get ! Which most days is a win yes. But that still doesn't matter. What matters most is your risk.

focusedfinance posted:
Met a guy with a very interesting outlook. Just make 10pips = 1% of your account value and make 10 pips per day - day in and day out.

Another thing with FX. All traders want the same thing. Profit. Lets say this profit is $150k/year regardless of strategy or account balance.

A guy with a $500 account needs to run more leverage or make more pips than a guy with a $50k account. This is a difference is not often taken into account. Building an account requires a very different set of skills compared to cruise control on a $50k account. More often than not I see guys who double or triple accounts inside of a month. Ask what their balance is and invariably they give you a sub $5,000 number. Guy is trading like a demon and barely making a living. Take that guy - give him $25k and tell him to slow down and make you 50% over 2 months and everyone will still come out a winner.

Do you know of a good pip calculator to figure 10 pips = 1% of your account value?

I think a yearly target is a little more realistic - after all everyone will have loser weeks or months every now and then so in my opinion the bigger picture counts.

My personal target is 20% per year

In my humble opinion, I dont think it is a good idea to set a daily, weekly or monthly target, because you may be forced to take trades that may not fill your trading parameters or strategy.