Setting monthly targets

T

trader.trends

Well-Known Member
#1
#1
I am often puzzled when I read posts which set monthly target either in rupees or in points. Does it really help? Does it work? 10% a month, xxx points a month. I feel it puts unnecessary pressure on a trader when he sets himself such targets. Such targets do work in the outside world where we want to sell xxx number of pieces a month or achieve a sales/income target.
Trading is different. What you have achieved you can total up at the end of the month but we cannot fix monetary/points target for the trades.
To me the focus as a trader is on the correctness of the trade. How much profit it will give, I don't know and in a way I don't care. I would be aware of how much is at risk.

At the end of the month if I have taken 100 trades, I would be delighted if 90 of them were correct trades as per the system I have employed irrespective of the amount of money/points it made. Making it 100/100 "correct" trades would be a delight.

Perhaps it works for others to set a point/money target, it has never worked for me.
 
T

Trader4242

Active Member
#2
#2
trader.trends said:
I am often puzzled when I read posts which set monthly target either in rupees or in points. Does it really help? Does it work? 10% a month, xxx points a month. I feel it puts unnecessary pressure on a trader when he sets himself such targets. Such targets do work in the outside world where we want to sell xxx number of pieces a month or achieve a sales/income target.
Trading is different. What you have achieved you can total up at the end of the month but we cannot fix monetary/points target for the trades.
To me the focus as a trader is on the correctness of the trade. How much profit it will give, I don't know and in a way I don't care. I would be aware of how much is at risk.

At the end of the month if I have taken 100 trades, I would be delighted if 90 of them were correct trades as per the system I have employed irrespective of the amount of money/points it made. Making it 100/100 "correct" trades would be a delight.

Perhaps it works for others to set a point/money target, it has never worked for me.
Click to expand...
Hello TT

Good topic . . .

After trading for a while we all know that outliners are more common than commonly believed.

And what do you do if the target is achieved in the first week of the month itself :rofl:

But it is also natural for us to have some expectations for the work being put in, nothing wrong to have a benchmark level as long as you understand that the only certain thing here is the uncertainty. In this business of speculation being able to accept this uncertainty is the most basic of all the things.

But then again counting points (before they are hatched) is quite fun :lol:

:)
 
T

trader.trends

Well-Known Member
#5
#5
tvrssvk said:
so when do you book the profits.......any particular strategy, kindly share with us.....
Click to expand...
I book profit/loss when the system I am following tells me to. As I said the loss is pre-determined (SL is known at the time of entry and is punched in the same second as the entry), the profits are determined by matrix of markets and the system I am following for the trade.
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
O Which setting to use? Forex 1
V I want to delete my account but there is no link in settings Your Feedback & Suggestions 0
A Sell/Cover vs ApplyStop vs Backtester settings AmiBroker 0
T Best MACD / range bar settings Day Trading 0
K Save customize settings AmiBroker 0

Similar threads