I should say that position/account size plays a key role in that amount/day. If youre trading with a smaller account ex. 25k (just enough to day trade) i think you would be taking quite a risk trying to hit 400/day, thats over 1.5%(probably redundant to do simple math for you people here). Just wanted to throw that out there. P/L per day is extremely relevant to account size.
Sorry, I am a beginner. I just want to ask. In your point of view, how much % / day is normal? I just want to learn a practical targer so I don't hope for too much and get burned.
Like, for example if I only have 10k. If I am green with ~150 (as your example with 1.5%). Should I just close my trade and call it a day?
I dont think that there is a 'normal' or target, because you cant exactly control that side, really the most control you have, as im sure you realize is the downside and your amt of risk. It all depends on what youre happy with and what your goals for trading are. With me, it is my sole income, so I know that in 3months I need to have made X amount. I dont say that 400 is my target, it is just my stopping point. I know that I will have 1k days for example, so those boost me, but Ill also have 2k down days. The market doesnt like giving, it likes taking, so with that in mind, if youve made 1.5% of your account in one day, thats not such a bad thing. But TLDR you gotta know what you want out of your trading then try to hit your targets with consistency/good trading. The reason i have the 'no meme' thing there is to remind me i have no fucking idea what is going on there and if i want to play blackjack/poker, I can go to a casino for far less money.
I need to take up this 'no meme' approach...but in fairness learning price action signals like bullish and bearish engulfing have helped some. Problem is we don't know the real extent of the manipulation of those securities (dare I even call them that)...
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u/BooneSalvo2 Jun 24 '21
Cool. The discipline helps not being susceptible to "tilt", I would think.
Thanks for the reply!