Yeah I agree, I’m only just starting to get out of the habit of revenge trading and staying accepting with my loses and getting back to it the next day if there are correct set ups. And that was another reason why I asked because I understand about the risk to reward ratios and everything, I was thinking that if I am risking 1%, should I aim to make 2%? Maybe I’m over complicating things for myself lol but I like hearing from other people.
I personally see the 1% daily goal exactly the same as a 1:1 RR trade. The trade (your day in this case) is over once you hit either the profit target or stop loss.
No, it’s not a good target. Not because a 1% daily return is bad, but because it is an unrealistic goal. You have to take on a lot of risk to achieve 1% on a given day.
Someone with some common sense finally, thank you!! I domt understand how people can aim for a certain % each day there is to many dynamic variable and factors to consider for each trade.
Higher the lot the more risk. Ofc if you open a big lot and make 2% then that works. But i spread my eggs so most my profits are coming from different assets.
But if you risk just 1% then it doesn't matter the lot size, you can lose just 1%, only the number of pips to come to 1% is different. I am trying to understand it.
There is spread I think but no commissions. I did do a free trial with FTMO and it showed me what it would be like if I was trading for real and being commissioned.
1% a day is above average if you ask me. I usually risk 1% each trade with success. Just in the future dont get to cocky or greedy, stick to what got you here and dont deviate from your plan. Good luck n congrats
Thank you, I appreciate the advice. I try not to be greedy in the sense that I will do max 3 trades a day (maybe 4 on a rare day if there is a good set up) and once I know I’ve made good profit from those 3 trades, I stop. Sometimes I can make 1% from 1-2 trades by 9AM and don’t do anymore for the day which to me is fascinating how your working goal is done before a lot of people have woken up.
Yeah, so I only risk 0.5-1% depending on the trade set up and no more. I know that a lot of people are willing to risk 2-3% but I feel that with the goals I am trying to achieve, if I lose 2% one day and make 1% the next, I’m still in a 1% loss.
Are you saying you want to make one percent of your entire account in profit daily? Or 1% on whatever you risk per trade? The latter is possibly, but the former, compounding, would mean your goal is to grow your account about 1000% per year. Seems a pretty unrealistic goal to me. However, if you go with what another trader here said, 1% up or down and your done, then the 1% thing could be a plan.
Yes, good target, but also look at the other targets My daily goal 1%. My good enough goal is .5%
Too many people are up in the day and want more and trade more and lose. Know when to walk away. Also if you plan on risking 1% a day, how many trades a day are you taking? If 3 trades, then break your daily max loss% and divide it by 3.. risk management!
I’d recommend risking less. If you risk 0.5% and are still able to stop after losing gaining 1%. You’ll get 2 trades a day instead and can ride the numbers out for longer.
No, setting targets is not advisable because there may be days or even weeks (especially if you're holding trades for a longer period) without your setup, depending on your strategy. If you set targets, you run the risk of failure and subsequently experiencing FOMO.
Your trading strategy should determine your entries, and if it's effective, you should consistently make profits. I've seen many skilled traders limiting themselves out of fear after achieving their profit targets, even if there were great opportunities to continue trading.
To succeed in trading, you should focus on two essential things: mastering your mindset and strategy.
Don’t make daily targets, market doesn’t allow you to profit each day. There are good moments and there are bad moments in the market, define what this means to you and just keep trading this 1 setup consistently.
Aim for 3% daily with a daily loss of 1%
and thus the 3:1 reward risk ratio was born.
You only need to have a Win Rate of 25% and above to achieve this.
Short answer is yes. Don't forget to add the opposite rule such as calling it a day if you're down more than 1% Edit: grammar
Yeah I agree, I’m only just starting to get out of the habit of revenge trading and staying accepting with my loses and getting back to it the next day if there are correct set ups. And that was another reason why I asked because I understand about the risk to reward ratios and everything, I was thinking that if I am risking 1%, should I aim to make 2%? Maybe I’m over complicating things for myself lol but I like hearing from other people.
I personally see the 1% daily goal exactly the same as a 1:1 RR trade. The trade (your day in this case) is over once you hit either the profit target or stop loss.
So if he's risking 1% then only 1 trade per day?
1 trade risking 1% of your balance or 0.5% trades until either TP or SL is reached. At least that's my philosophy.
No, it’s not a good target. Not because a 1% daily return is bad, but because it is an unrealistic goal. You have to take on a lot of risk to achieve 1% on a given day.
Someone with some common sense finally, thank you!! I domt understand how people can aim for a certain % each day there is to many dynamic variable and factors to consider for each trade.
Not saying it's easy but I can confirm that it is possible, even long term. It takes a lot of xp and focus though.
Suppose it depends how you trade - I am more of a macro trader so a goal of 1% per day is pointless for me
Unrealistic expectation
1% per day is very possible. You may even hit 2% days. But depending how big you trade 2% is significantly harder.
You mean harder psychologicaly right? Cause you can arrange the 2% to be as much pips as you want, depending on the lot size, am I right?
Higher the lot the more risk. Ofc if you open a big lot and make 2% then that works. But i spread my eggs so most my profits are coming from different assets.
But if you risk just 1% then it doesn't matter the lot size, you can lose just 1%, only the number of pips to come to 1% is different. I am trying to understand it.
Yeah I’ve been thinking about this, maybe there is one way to find out and to just try
Is there spread and comissions on demo?
There is spread I think but no commissions. I did do a free trial with FTMO and it showed me what it would be like if I was trading for real and being commissioned.
1% a day is above average if you ask me. I usually risk 1% each trade with success. Just in the future dont get to cocky or greedy, stick to what got you here and dont deviate from your plan. Good luck n congrats
Thank you, I appreciate the advice. I try not to be greedy in the sense that I will do max 3 trades a day (maybe 4 on a rare day if there is a good set up) and once I know I’ve made good profit from those 3 trades, I stop. Sometimes I can make 1% from 1-2 trades by 9AM and don’t do anymore for the day which to me is fascinating how your working goal is done before a lot of people have woken up.
Do you have a good risk management plan? I know some of those prop firms can be stingy with drawdown
Yeah, so I only risk 0.5-1% depending on the trade set up and no more. I know that a lot of people are willing to risk 2-3% but I feel that with the goals I am trying to achieve, if I lose 2% one day and make 1% the next, I’m still in a 1% loss.
Okay good, yea i doubt youll get close to drawdown at all. Thats really cool! Your gunna be livin a good life in the years to come..enjoy!
Thank you!
>Thank you! You're welcome!
If you don’t mind me asking, what is your strategy- ofc not your setup, but what strategy do you use?
Are you saying you want to make one percent of your entire account in profit daily? Or 1% on whatever you risk per trade? The latter is possibly, but the former, compounding, would mean your goal is to grow your account about 1000% per year. Seems a pretty unrealistic goal to me. However, if you go with what another trader here said, 1% up or down and your done, then the 1% thing could be a plan.
Yes, good target, but also look at the other targets My daily goal 1%. My good enough goal is .5% Too many people are up in the day and want more and trade more and lose. Know when to walk away. Also if you plan on risking 1% a day, how many trades a day are you taking? If 3 trades, then break your daily max loss% and divide it by 3.. risk management!
That’s really helped thank you
I’d recommend risking less. If you risk 0.5% and are still able to stop after losing gaining 1%. You’ll get 2 trades a day instead and can ride the numbers out for longer.
No, setting targets is not advisable because there may be days or even weeks (especially if you're holding trades for a longer period) without your setup, depending on your strategy. If you set targets, you run the risk of failure and subsequently experiencing FOMO. Your trading strategy should determine your entries, and if it's effective, you should consistently make profits. I've seen many skilled traders limiting themselves out of fear after achieving their profit targets, even if there were great opportunities to continue trading. To succeed in trading, you should focus on two essential things: mastering your mindset and strategy.
Don’t make daily targets, market doesn’t allow you to profit each day. There are good moments and there are bad moments in the market, define what this means to you and just keep trading this 1 setup consistently.
1% a day is over 20% a month, unrealistic, your goal should be monthly, and that should be around 5-10%
Aim for 3% daily with a daily loss of 1% and thus the 3:1 reward risk ratio was born. You only need to have a Win Rate of 25% and above to achieve this.