Do you have a goal for the next six months?

RachelEB

Corporal
Messages
74
I am asking out of curiosity as I have met several traders who set monthly, quarterly or annual targets and since the financial news were filled with talk about the end of the second-quarter and first-half of the year plus all the predictions and expectations for the second-half of the year I was wondering if anyone here in this forum has a specific goal?

I think annual performance targets are more for professional portfolio managers as they need to communicate with their clients, but I see nothing wrong with individual traders setting a target. I plan to keep doing what I have been doing so far as I am satisfied with my results and target 5% per month for myself.
Figures can be dangerous especially early on in trading as it can impact negatively on your mindset, especially if it pushes you to take a trade because you have to meet your target.

I will assess performance week by week, and the overall month but the target is to be consistent in my trading plan and profit will come.
 

bigdolly

Sergeant Major
Messages
921
Figures can be dangerous especially early on in trading as it can impact negatively on your mindset, especially if it pushes you to take a trade because you have to meet your target.

I will assess performance week by week, and the overall month but the target is to be consistent in my trading plan and profit will come.
I think you don't need to pay attention to single trades because they say nothing about your trading performance. Only aggregate trade orders data will show your what you have done in average and your activity should in fact converge to average performance.
 

RachelEB

Corporal
Messages
74
I think you don't need to pay attention to single trades because they say nothing about your trading performance. Only aggregate trade orders data will show your what you have done in average and your activity should in fact converge to average performance.
This is it yes, I found the mark Douglas video series very helpful and he summed this up as ' you should not trade trade by trade, but trade a series of trades
 
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