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shreik

Daily profit plan

Question

Вопрос к Томасу и другим участникам.

Вы ставите перед собой цель - заработать так много и остановиться?

Например, у нас есть план по увеличению банка на 50 долларов США на 4%, ежедневный план заработка на 2 доллара. В среднем, есть 20 гонок в день, что означает, что на каждую гонку вам нужно зарабатывать 10 центов.

И как только торговля на гонке приносит 10 центов или более, вы можете сразу же хеджировать прибыль и переходить к другой гонке.

Имеет ли это смысл в такой финансовой стратегии или лучше всего использовать каждую гонку? Тогда в какой момент лучше остановиться на каждой гонке и вообще на торговой сессии?

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Question to Thomas and other participants.

Do you set a goal - to earn so much and stop?

For example, we have a plan to increase the bank by $ 50 by 4%, a daily earnings plan by $ 2. On average, there are 20 races per day, which means that for each race you need to earn 10 cents.

And as soon as trading on a race earns 10 cents or more, you can immediately hedge profits and move on to another race.

Does this make sense in such a financial strategy or is it best to use every race? Then at what point is it better to stop at each race and generally at the trading session?

Edited by Tomas
I have added English translation
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Personally, I don't use plans or goals anymore. I just do my best in every market and I accept the result. Sometimes, pushing too hard to reach the goal does result in making too risky decisions. I only focus to act according to my rules in the market. If I act according to my rules, the result is usually good. 

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I don't set any targets. I simply try to be as consistent as I can. If I have a winning streak I don't increase my stakes because I know my results will regress back to my mean in time and likewise if I have a losing streak I don't decrease my stakes because again I expect the results will go back to my average wins to losses ratio. 

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STOP! STOP! STOP! STOP! - Seriously stop right there!

Goals and targets are a really really bad idea, goals just create emotion. This is because you are going to either excel or under achieving simply due to variance in the short term, this doesn't matter how good your strategy is... Ever professional trader know this! Trading and advantage play of any type, is NOT about short term goals, win and loses!!!  It's about the long term!

In the long term, variance will always even itself out due to the law of big number. If you focus on the short term you will let your emotions rule (due to winning or losing short term) and this will in turn cause you to make emotional errors and be a lot less focused and less successful than you could of been.... 

I would recommend......

Turn your balance off, don't even look at it. Trade to your best of your ability according to your strategies and Never break your given strategies rules. Do this for at least a thousand trades as a bare minimum and in that time just try not to lose money. Protect your bank at all costs..... if you do this, the profits will come to you....what those profits are, will then depend on your mindset and not the market.

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I can only speak from my experience as an "ex" pro poker player (I am new to trading); but the advice mirrors the sensible advice already given above. 

I cannot tell you the amount of times I have seen people lose hundreds, and even thousands of dollars chasing a measly $10 because it would mean hitting their preset target of say $100. Chasing losses is even worse as I'm sure you know.

I played if the conditions were right to sit down and play. In other words, if I had an edge in the game, I would play, and I would continue to play as long as that edge existed, regardless if I was losing or winning. 

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