What is your profit target each year?

[yuanman xin]

Tell me about your goal. how much profit should you want to make each year? 30% ？50% ？100%? Or more than 10 times the profit.

 

[FXX]

70 to 100 percent a year

 

[Panic!]

Monthly target of 2%, so annualised that would be 26.82%. However, after every month I need to withdraw all my profits so there's no compounding.

 

[Teejy88]

31-50%, will make me very happy, 3 years of that and I will be trading for a living. If anyone's goal is 1000% then they are living in a dream!

 

[JBotha]

31-50%, will make me very happy, 3 years of that and I will be trading for a living. If anyone's goal is 1000% then they are living in a dream!

haha yeah seriously. Personally just 10% a year and I am happy.

 

[hatemypips]

haha yeah seriously. Personally just 10% a year and I am happy.

My banks 9% yearly and its risk-free. You'd better also consider this option if you set such profit targets

 

[AdamCantor]

i would be happy with anything more than the previous year ! Profit is profit.

 

[tomorton]

As has been posted already, my target is just to make more money than the year before.

Same in all fields of life though - next year should have more sex, better holidays, better food, better wine. I used to have a target to work less, and now I don't work at all.......

 

[Mexxiy]

Of course I always want to aim for higher % but it doesn't always work like this. I would say that would like in 5 years to be able to buy a property on the French Riviera or a very good car and invest the rest.

 

[AdamCantor]

Of course I always want to aim for higher % but it doesn't always work like this. I would say that would like in 5 years to be able to buy a property on the French Riviera or a very good car and invest the rest.

nice goal !!! best of luck champ.

 

[AdamCantor]

Of course I always want to aim for higher % but it doesn't always work like this. I would say that would like in 5 years to be able to buy a property on the French Riviera or a very good car and invest the rest.

may i ask what you trade primarily with this goal in mind????

 

[hatemypips]

As has been posted already, my target is just to make more money than the year before.

Same in all fields of life though - next year should have more sex, better holidays, better food, better wine. I used to have a target to work less, and now I don't work at all.......

Don't feed your greed or emotions.. it can backlash painfully ;D

 

[tomorton]

Ouch!

 

[J_C_Anderson]

As for me, it would be better to set targets not in profit, but in performance and consistency. This means that trader should set goals measured by progress. The profit is just the outcome that appears when you make right decisions, so the main goal is to set a process of making more right decisions.
For example, you should set goals like "Avoid emotional trades" or "Find and analyse 5 trading setups each day" or something like that. If you will set exact amount of money you are going to earn you will either be dissapointed i case of failure or will stop your progress reaching that amount.

 

[NVP]

some good posts .............as already stated targets should be set around more KPI based indicators where the trader analyses their Execution efficiency and effectiveness regarding their current trading models...

so in other words ........how good are you at executing your plan ?

entries
Exits
MM

etc etc .......

profit is an outcome .........which is always uncertain regarding market conditions ............above is much more important

so as an example if a trader is hitting 90% plus on their execution KPIs then eventually they will be doing well profit wise assuming the trading system is robust and backtested profitably already

one cannot predict if a trade will be a 1 pip profit or 500 pips profit............all you can do is be efficient and get it into profit

N

 

[NVP]

also .....i prefer to look at ROI by number/volume of trades....a % return is meaningless to me unless qualified by trade volume ....

 

[NVP]

my scalping performance can never expect to beat a higher timeframe ROI/trade......like daily TF

but annualised verses a daily TF its much much higher due to the number of trades i have performed

 

[hatemypips]

As for me, it would be better to set targets not in profit, but in performance and consistency. This means that trader should set goals measured by progress. The profit is just the outcome that appears when you make right decisions, so the main goal is to set a process of making more right decisions.
For example, you should set goals like "Avoid emotional trades" or "Find and analyse 5 trading setups each day" or something like that. If you will set exact amount of money you are going to earn you will either be dissapointed i case of failure or will stop your progress reaching that amount.

And how do you measure the progress? After all profit targets is the only thing we want to accomplish

 

[tomorton]

Profit EACH YEAR?

Jeez, chance 'd be a nice thing.

 

[NVP]

And how do you measure the progress? After all profit targets is the only thing we want to accomplish

sorry - No ...profit targets are not the only thing you need to accomplish.....in fact for inexperienced traders its the last thing you should worry about as it will be distracting and uncorrelated to what you are doing during the learning phase...any profits will be luck ..........see my earlier post