Daily loss limit in relation to profit target

Sheen

Member
67 0
A question for all the day-traders/scalpers:
1. what is your daily loss limit in relation to your daily proft target?
2. Does any of you use a limit on the number of trades you can make a day, rather than a loss limit expressed in ticks/currency?

Perhaps a combination of these two methods would be the best solution. What do you think?
 

numbertea

Well-known member
257 9
I agree that a combination is good. Generally I lose the spread on each full trade so I try to limit my trades to 5 a day. My system gives losses that are probably considered high by most standards but they are always lower than expected gains and I consider profit to loss during a rolling week. I've been down 20 points once over 3 days and that felt uncomfortable but perserverence is part of the game. I was still positive at the end of 5 days.

Risk to reward to me is part of your overall trading plan. As long as you can stay on the right side over time the trading is a success.

Cheers
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock