I take the market as it comes, one day nothing another 100 points. I can't see how a target can be hit day in day out. See what you make after a month and average it over a month, and do that each month for 6 months and then you will see what your are really averaging.
I find it best not to have a target because if you miss it day after day it might knock your confidence and affect your trading. Just keep it simple and accept some days you will make and some days you will lose.
Use stops for a good money management. Its no good looking for 15 points a day but don't use a stop and lose 30 point. That means 1 days loss will mean 2 days of winning to break even, or what I often read I have just lost 5 weeks profits.
Good money management is the key and targets mean nothing. Risk only 2% of your pot on any 1 bet and use a stop. I use spread +9 for my trades, others use spread +6 points.
I find it best not to have a target because if you miss it day after day it might knock your confidence and affect your trading. Just keep it simple and accept some days you will make and some days you will lose.
Use stops for a good money management. Its no good looking for 15 points a day but don't use a stop and lose 30 point. That means 1 days loss will mean 2 days of winning to break even, or what I often read I have just lost 5 weeks profits.
Good money management is the key and targets mean nothing. Risk only 2% of your pot on any 1 bet and use a stop. I use spread +9 for my trades, others use spread +6 points.
I'm in agreement with Potshot.
If you're daytrading all day then a few good set-ups may show up one day and none at all other days.
So the way that this game should be played is take advantage of all HPT's and leave the chancy trades alone.
Rod
The CFD Traders
If you're daytrading all day then a few good set-ups may show up one day and none at all other days.
So the way that this game should be played is take advantage of all HPT's and leave the chancy trades alone.
Rod
The CFD Traders
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