Met my Weekly Goal for the First Time

Discussion in 'Trading' started by Flashboy, Jun 19, 2003.

  1. For the first time since I started trading the Emini.. almost 2 months now.. I've reached a weekly goal I set for myself..

    Now I know a monetary goal is not a good way to trade.. but I use it as a guage to see where I can be capitol wise in a year or so..

    I'm very pleased with my performance.. I started the week off with a terrible day on Monday.. but came fighting back with 3 winning days in a row.. now I have to be careful not to get cocky because that always means trouble.. don't want to give it all back in one day..

    Does anyone else set monetary goals on a weekly or daily basis??

    Hope everyone's trading is going well.. and hopefully I can keep this up..

    Good Luck..
  2. a better idea would be to set your goal of being net positive everyday. :)
  3. Howardy2k ..

    good point.. I've noticed one thing that has changed in my style..

    when I put on a trade.. once it moves my way 1.5 points I move my stop loss to breakeven.. well.. slightly above break even.. and I don't let it get me discouraged when the market comes back and hits my stop and heads my way again.. because more often than not.. staying in the trade would result in a loss.. I've learned to concentrate more on what I can lose than what I can win.. and I think thats made the biggest difference..
  4. Congratulations Flash'! Way to go!!!

    Your statement above is so important. It is evidence of the beginnings of a successful career. Have a great weekend, you deserve it.

  5. Congratulations!!!

    I'm happy for you,
  6. Winning can become a habit


    i think if u cut ur losses short without any hesitation, u will become a very consistent winner everyday.

    a good example would be my brother who havent had a losing day in about 6 or 7 months after i bitched him about not cutting his losses.
  7. what's your goal for next week?
  8. Hi Spreadem,

    Same goal next week.. to net 9 points on the Emini for the week.... and gradually increase contracts as my account grows...

    I know some traders probably net 9 points a day on average.. but I'm just looking to survive and increase my capitol at a slow pace..

    besides.. I have a full time job I work at while I trade.. My work has been suffering terribly from this too..
  9. Magna

    Magna Administrator


    Congrats, job well done! Which emini contract(s) do you trade?
  10. Hey Flash,
    don't ever worry about what other traders goals are. You will know the proper goals for yourself as you progress. You have a great realistic goal ---- to make a little, gain experience and THEN increase.
    Good luck,
    #10     Jun 20, 2003