Dear Traders,
Greetings!
Is it advisable to keep profit/loss targets at a daily level?
What I experienced is that, we find our-self a lot under pressure when the day is about to end and if the targets are not met, we feel a compulsion to take trades even after 15:00 hrs (closing). Luckily I have been able to meet my targets at a weekly level however even at weekly level, I feel a lot under pressure come Thursday because even if the weekly targets are met by Wednesday it becomes very risky to protect your profit on Thursday and Friday and if i place a tight stops, it tends to get hit. I have been revising my stops quite often.
Please suggest what measures do you adapt to keep your profits/loss in track.
Happy Trading!
Greetings!
Is it advisable to keep profit/loss targets at a daily level?
What I experienced is that, we find our-self a lot under pressure when the day is about to end and if the targets are not met, we feel a compulsion to take trades even after 15:00 hrs (closing). Luckily I have been able to meet my targets at a weekly level however even at weekly level, I feel a lot under pressure come Thursday because even if the weekly targets are met by Wednesday it becomes very risky to protect your profit on Thursday and Friday and if i place a tight stops, it tends to get hit. I have been revising my stops quite often.
Please suggest what measures do you adapt to keep your profits/loss in track.
Happy Trading!
Profit/Loss Targets
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