What is your profit target each year?

[J_C_Anderson]

Totally agree with you. The first goal for the newbie trader is to avoid losing the entire deposite during the first year of the trading. It is something like swimming - first of all you need to learn how to stay afloat.
The goals could be different, such as:
- to avoid emotional trades,
- to improve risk-reward ratio,
- to improve entry point for some particular strategy,
- to build a new strategy based on the new idea, and so on.

The main goal is to trade better, than yesterday (last week, etc.). And this is not about the profit, but about the trading process in general.

 

[NVP]

absolutely .....I remember attending some seminars by Steve Ward a high performance trading coach

he talked a lot about high performance teams and individuals in rediculously stressful situations

SAS , Navy seals , swat teams , Stunt teams , racing drivers .....commercial divers etc etc

the reason they survive and are sucessful is all down to focusing on perfect execution and adapting to the changing situation REAL TIME ..............the outcome then takes care of itself ......and the odds get stacked heavily onto success

they drill and practice for every situation ....24/7 365.....nothing is left to chance

this is probably more relevant to scalpers (and i talked to Steve a lot about my scalping)........but this is how a trader needs to develop themselves and their approach to trading .............disciplined, risk managed and flawless execution

survive and thrive......
N

 

[TradeKing305]

I have a daily goal of 0.5%-1%. There are ~252 trading days in a year. So an ideal year for me would be 126%-252% return (obviously that will never happen, i can dream though).

 

[@lgoTr@der]

I would set the targets according to the market segment your are interested. If you can beat the market (which is not easy) then you should be happy.

 

[hatemypips]

I would set the targets according to the market segment your are interested. If you can beat the market (which is not easy) then you should be happy.

Yeah correct returns slightly above what markets offer should make trading or investment strategy feasible with acceptable level of risk. I wouldn't go with returns twice or triple larger than the market rate.

 

[tomorton]

Revised my profit target to +100% per year.

I look for a r:r of at least 1:1 per trade, and would not open a trade that had a lower probable outcome.

A 100% per year profit target similarly represents a r:r of 1:1 with regards trading. Since its possible I could lose 100% of my account within 1 year, even if aiming low, I should not accept a lower profit target than 100%.

 

[NVP]

if you set targets you create barriers to success ......just dont lose money ...the rest then is all gravy

 

[NVP]

the saddest thing about setting realistic and sensible targets is that you may hit them ...

 

[fibo_trader]

What is your profit target each year?


Same as where I place my STOP when trading a position = where nobody especially the Devil and Demons can find it.

Ditto for profit target or income target. Set it to minus 100. Seeing you're a loser, the Devil will bugger off and not jinx you. then at the end of the year when you've scored big, mock him. After a couple times doing this the Devil will bugger off for good

Concept is: postulate vs counter-postulate ......... together they carry an electrical charge that fcks the owner, Me and Thee.

 

[NVP]

the devil never buggers off for good......so use him to your advantage

 

[RachelFX]

Not sure I would quantify profit in this way with such targets.

Anything with + sign is progress and I would be happy!