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Goal setting to increase profits?


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  #1 (permalink)
Laguna
laguna beach, ca
 
Posts: 14 since Mar 2011
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hey Guys,

I would love to hear from you re/ What helps you to make continuous progress with profits? Is it via daily/weekly/monthly goals? Is there is a method to go by? What's the key? Increasing contract size did not work for me: a bit of a nervous Nelly..And feel like I am goofing off and happy with little money: generally if psychologically I am on edge: I walk away even during great trading days. Shall I not? Would love to conitnue growing as a trader, and will appreciate your comments.


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  #2 (permalink)
 
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 kbit 
Aurora, Il USA
 
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I don't have any goals...daily, weekly or anything else. I think that's dangerous, just take what the market gives you. Specific advice is hard to give...without a LOT of screen time you may not fully understand but, generally you should (if your a TF trader for example) wait till 10:00 to initiate a trade ,don't trade the lunch hr and come back after 2:00 and look for another trade. Like I say this is VERY general, in time you'll pick up on the nuances and so on. I can't elaborate any more without "writng a book". On the issue of nervousness, you have to be certain of your methodology. If it has a high sucess rate then you will have the confidence to stay in trades. Perhaps you should do more backtesting or live trade on demo/paper untill you gain more confidence.


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  #3 (permalink)
 
Massive l's Avatar
 Massive l 
OR/USA
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^kbit has some great advice.

Just keep at it and take your time. Your mind will let you know what the next step is if you listen to it carefully.
Don't predict what the market is going to do, let it tell you what it's going to do.


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  #4 (permalink)
mwtzzz
Sunnyvale, CA
 
Posts: 171 since Dec 2012
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You definitely should not double up on your contracts as a way to get more profit. This will bite you in a big way. If anything you always want to trade way more conservatively than you are actually capitalized for. You always need to make sure you have reserves to withstand drawdown periods.


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Last Updated on March 14, 2013


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