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What is your daily target??

Freerenkosignals (Freerenkosignals)
Jun 09 2015 at 06:51
8 posts
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.

Niels
BOAR (BOAR)
Jun 09 2015 at 08:56
18 posts
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. 😉

drago
Jun 09 2015 at 09:19
71 posts
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.

focusedfinance
Jun 09 2015 at 18:14
14 posts
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.

If you like it, buy it. If you don't sell it.
cenetti
Jun 12 2015 at 08:48
9 posts
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'.

 
 

Freerenkosignals (Freerenkosignals)
Jun 12 2015 at 08:50
8 posts
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.

arigoldman (arigoldman)
Jun 12 2015 at 12:20
907 posts
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.

Alex
Look009 (Look009)
Jun 13 2015 at 15:14
224 posts
Daily target ?? No such thing is possible to fix in advance

StingRay (StingRay)
Jun 19 2015 at 14:10
21 posts
My EA target is 25% -30% for each movement.



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

financial freedom by using own hand make EA.
Alex
Look009 (Look009)
Jun 23 2015 at 06:52
224 posts
The best day target is no losing of money

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