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I like how MShead put it as well. An arbitrary number does not take into account market conditions, mindset, or any of the components that allow me to trade well. It sounds silly but what limits me the most is my mindset or emotional condition that usually manifests in fear, disgust, or euphoria. The next thing that limits me most is market condition that cause me to misread or lose edge.
When I started trading a daily profit target was exciting and natural. I mean I am trading to make money right. It also arbitrarily kept me from giving back once I reached expectations.
Truthfully I still have a daily $ goal in the back of my mind but I would like to get rid of it as it is not anchored to what good trading is. Some days I have made 3X's my target with good conditions in me and the market and other days I have forced trades trying to get that one more trade to reach the goal and ended negative.
I am still learning and trying to figure everything out but have come to believe that process is the goal. $ Average will follow.
The market is different and being able to understand when you want to be mostly day trades is upto the trader. However if some of the moves one wishes to capture.... it will not be on a daily timeframe. These will mostly be swing and some ofcourse holds on weekends. In the last month or two....there have been many a time held the weekend and days into the week. Yes risk mgt is very key at these times. However you got to do what you wish to. R:R is appropriately distributed in the market.