Do you have a daily target

[hirnant]

Despite trading for around 18 months I have only recently started trying to form some sort of order and strategy to my trading and I would be interested to know if any of you set your self a daily pips target?
If you hit that target within the first hour of the day do you then walk away and not trade for the rest of the day?
Do you set yourself a loss limit and stop trading for the day if you have hit that?

Just curious!

 

[Black Swan]

Yes I do but once/if breached I just carry on...I'll take a trade at 1am if I'm up and it fits in with my rules. Wednesday a good day, yesterday below average, IMHO you have to be in a position to use your edge/plan to take what the market offers up...

I did early days set a loss limit for the day, if down a certain amount, or I'd had a losing streak of four in the day I'd log off and go and have a good long think...and then think some more...sometimes for 2 days...a week...

 

[hirnant]

Thanks Black Swan. Do you mind if I ask what that target is? Or is that rude?