Hunt squirrels with a .50 magnum and hunt bears with a .22L. Does this type of logic work for your trading?
My target today was $500. I made $511, on just TQQQ, nothing else, one buy and one sale. Not bad for a micro-size account, right? But it was a logical expectation, one that relied on price and volume action and patterns. My target, or my P/L goal I should say, depends on my expectations from recent and present price action, mostly. My target for any single position depends on that and also on logical and recent historical levels of resistance and support. It could be $100. It could be $800. It could be $40. Five $40 wins on an 8k account add up to a reasonably good day. If I can't reasonably expect to make $100 then I have other things I could be doing, like making another batch of beer. Or just drinking some. Now if a stock stubbornly refuses to halt it's progress into greater profit, I won't argue. I stay in until it turns around or at least goes sideways and doesn't break out again in an hour. If it looks good for a gap up, or a stable overnight and a morning surge, I stay in and I don't really have a target anymore, just a stop loss figure.
The year is far from over and much can happen between now and December, but I'm on target to beat my 401k to the finish.