How do you determine daily profit target?

Discussion in 'Index Futures' started by povstanets, Sep 25, 2015.

  1. You can set a profit target in a couple ways. If your daily loss is $ 300, your daily profit could be $ 300. Or you could set 8 trades during the day and agree win or loss not to do more.
     
    #31     Sep 28, 2015
  2. Are you talking about a target per trade, or for the day?

    Per trade, I aim for 5 points, and keep half as a runner until it crosses a moving average against the direction of my trade. My initial risk is 1.5-3 points. I have a daily loss limit of $1,000 but I never hit it. I also trade /CL, but that's entirely different.
     
    #32     Oct 17, 2015
  3. MarkBrown

    MarkBrown

    3 to 1 reward / risk
     
    #33     Oct 24, 2015
  4. AdiDavid

    AdiDavid

    Is that TWS book? how can u see market depth so large?
     
    #34     Nov 24, 2015
  5. If you have a "daily profit target", the good news is that something about the future is known for a fact, a fixed quantity that we know now before the event. The bad news is that this known fact is: Your account balance will eventually reach zero.
     
    #35     Nov 24, 2015
  6. Turveyd

    Turveyd

    Yes, cause eventually you'll die and the Sun will explode / implode and everything would of been for nothing.

    But in the mean time, you can make money and have some fun with it, so play on :)

    Plus it'll reach a level, where there isn't enough to trade, which is way above zero, so ha WRONG again, Mr Pessimistic!
     
    #36     Nov 24, 2015
  7. Sounds like an add for a casino to me
     
    #37     Nov 24, 2015
  8. Turveyd

    Turveyd

    Just someone who doesn't take life and money to seriously, lifes just to short and money is just money.

    I'm also profitable, if my account does go to near zero then I've still made money and had fun making and spending it :)
     
    #38     Nov 24, 2015
  9. Good for you that you are having a good time; certainly puts your posts into perspective for me.
     
    #39     Nov 24, 2015
    d08 likes this.
  10. Turveyd

    Turveyd

    So....

    "The bad news is that this known fact is: Your account balance will eventually reach zero."

    Isn't a fact, it's a highly probable out come, but it's not a FACT!!

    He could get hit by a bus before it gets to Zero, see ha!
     
    #40     Nov 24, 2015