If you have one what is it? And has this been a realistic goal in hindsight?
Daily average pip goal 0 replies
Pip by pip - my trading journal 21 replies
GBP/USD daily pip movement vs. EUR/USD daily pip movement 3 replies
What is your daily pip goal? 24 replies
100 pip STOP for a 100 pip Target 7 replies
DislikedHaving a daily goal is counter productive. Like the above posters have said, you can't predict what the market is going to give you.
I've had periods of doing more than 20 trades per day, even then, a daily goal leads to problems....
What if you've reached it halfway through the day? Are you going to ignore good signals for the rest of the day? (potentially hurting your long term profits)
What if you haven't reached it with 1 hour left of trading for your session?
Are you going to push and take trades you normally wouldn't take?
Over time...Ignored
Dislikedjust imagine Tiger Woods going to the contest without the championship in his mind,
no but imagine more he is practicing for this contest without the cahmp. goal in his mind !
another example, imagine yourself drive your car in...Ignored
DislikedI remember having this same discussion many years ago. It involved an aggressive young buck who always had a desire to feed his ego. If only he made X each week, he'd be satisfied with life. Of course, it was a fallacy and I told him so at the time.
What he is up to these days I have no idea. I was interested though, and not at all surprised, to learn he had gone into car sales a few years ago. He failed at trading because he tried to dictate to the market. I'd imagine he was better suited to being a car salesman, aiming to make X commission each...Ignored
DislikedI think you are perhaps confusing goal setting with expecting the market to bend to your will.
Goals in trading should, in my opinion, be based more around such things as:
* I will only trade when my mindset is correct.
* I will trade what I see - not what I want to happen.
* I will follow my plan.
* I will review my day's work after it is over.
I could go on and on but the point I am making is that nowhere in a huge list of goals should it say "I will make X pips this week/month/year"Ignored
Dislikedand believe me, the most satisfaction feeling in your life is when you reach your goals specially in this careerIgnored
Quoting benssolDislikedjust imagine Tiger Woods going to the contest without the championship in his mind,Ignored
QuoteDislikedGoal setting for short, long or daytrading is very important man, and measuring your performance toward your goal is more important
DislikedIf you have one what is it? And has this been a realistic goal in hindsight?Ignored