Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

tomerok

Realistic Goals....

Recommended Posts

Maybe it's just me, but it seems OP is conspiciously absent from 'normal' participation in the conversation...

Has he taken a powder and are we just steroking ourselves now?

Share this post


Link to post
Share on other sites
This all varies depending on the trader, and his style of trading. Many traders ONLY trade the first couple of hours, for example. For day trading--and by that I mean some trades will last 2 minutes, others 30 minutes, few will last more than an hour or so--most markets are "willing to give" almost every day, say, 90-95% of days there are great opportunities. It doesn't mean all of those days will be profitable, and I think a measure should be taken on a weekly basis versus a daily basis, but what I'm saying is that many traders actually do make money every day -- I see them on my broker's board, and I have made money on 11 out of 14 trading days this month, and I'm not even trading that well this month. I'd imagine that traders much better than I am are making money literally 95% of trading days.

 

Setting guidelines like 2 or 3 trades are enough, is based on your experience, and is not "right" or "wrong," just what you believe. Traders who are holding for a larger move may only take 2 trades, but others may take quite a few more, and other traders may only take 1 per week. Personally I average about 8-12 trades per day. If I take more, it's usually not a good sign, and if I take less, it usually means that I did not take full advantage of my opportunities as I saw them.

 

True Josh, but from what I understand the guy is only just beginning and those are just a set of guidelines to prevent him from overtrading. I myself make 2 to 5 % daily on my account on average. Until today I mainly focussed on ForEx but I am widening my horizon to futures as we speak.

 

Cheers

Share this post


Link to post
Share on other sites
"go live and small" will only prolong the inevitable if you don't know what you are doing.

 

"start small" without understanding discipline will turn small into large (both profit and loss).

 

1. The only way of actually knowing what you do (or realise that you don't) is by going live at some point.

 

2. When you do go live with your trading plan, especially when you are not a seasoned trader, you should keep it as small as realistically possible.

 

3. Also, before you go live, you should practice, as I mentioned.

 

So your point was? Please clearify so that we can benefit.

Share this post


Link to post
Share on other sites
I myself make 2 to 5 % daily on my account on average. Until today I mainly focussed on ForEx but I am widening my horizon to futures as we speak.

 

If you have a 5K account, and average only 2% per day, you should have a million dollars in just over a year. You sure those stats are right? :D I also have 2% days, heck I have +10% days, but that's not my average. There's also the 0.1% days, and the -2% days, etc.

 

Maybe you're trading a micro forex account and getting those stats. If so, congrats. It somehow becomes different when the tick value is $10, as opposed to a mini $1 or a micro $0.10 , psychologically speaking I mean. I don't trade big size but losing $150 on a trade just trading one contract is a bit harder to swallow than losing $15 or $1.50. I can only imagine big swingers who are trading 20 lots of crude or eminis, watching their account +/- $200+ per tick. But I suppose to get to that point they have mastered the psychology of risk. Anyway I digress.

Share this post


Link to post
Share on other sites
If you have a 5K account, and average only 2% per day, you should have a million dollars in just over a year. You sure those stats are right? :D I also have 2% days, heck I have +10% days, but that's not my average. There's also the 0.1% days, and the -2% days, etc.

 

Maybe you're trading a micro forex account and getting those stats. If so, congrats. It somehow becomes different when the tick value is $10, as opposed to a mini $1 or a micro $0.10 , psychologically speaking I mean. I don't trade big size but losing $150 on a trade just trading one contract is a bit harder to swallow than losing $15 or $1.50. I can only imagine big swingers who are trading 20 lots of crude or eminis, watching their account +/- $200+ per tick. But I suppose to get to that point they have mastered the psychology of risk. Anyway I digress.

 

Thanks for the congrats. I did start with a $ 100.- mini account taking trades of only 0.02 contracts! I ALWAYS limit my losses to 2% of the account. I trade only three days a week (Never on fridays, I tend to find them boring). Today I trade whole contracts to give you an indication. This is all I have to say about it since it does NOT contribute to the initial question.

 

Cheers

Share this post


Link to post
Share on other sites
True Josh, but from what I understand the guy is only just beginning and those are just a set of guidelines to prevent him from overtrading. I myself make 2 to 5 % daily on my account on average. Until today I mainly focussed on ForEx but I am widening my horizon to futures as we speak.

 

Cheers

 

I'll call shenanigans on the 2-5% daily (as in each and every day). And if it doesn't add to the conversation (which you're right, it doesn't), what possessed you to make the statement in the first place?

Share this post


Link to post
Share on other sites
I'll call shenanigans on the 2-5% daily (as in each and every day). And if it doesn't add to the conversation (which you're right, it doesn't), what possessed you to make the statement in the first place?

 

Some things are obvious, though, I frequently ask the questions with obvious answers when I am bored too.

Share this post


Link to post
Share on other sites
Some things are obvious, though, I frequently ask the questions with obvious answers when I am bored too.

 

Yep, I understand what you're getting at. My question was/is a bit rhetorical as well. Just trying to make the point that alluding to one's own trading prowess in a post is ridiculous. Since no one is going to believe (and nor should they) any claim of performance, alluding to it in a post is pointless. But, some people apparently can't help themselves and feel it somehow will lend that much needed "credibility" to their comments. Actually, it does the exact opposite.

 

The bottom line is that it's 1) not worth making such reference to performance, 2) it adds nothing to the conversation and 3) it wreaks of desperation (imo).

Share this post


Link to post
Share on other sites

...

2. what is your MFE to MAE ratio on each trade?

....

Tams,

Where do you get your MFE/MAE data? Does the platform you use provide it, or do you

have a spreadsheet app?

If a spreadsheet can I get the template?

Thanks.

Share this post


Link to post
Share on other sites
...

2. what is your MFE to MAE ratio on each trade?

....

Tams,

Where do you get your MFE/MAE data? Does the platform you use provide it, or do you

have a spreadsheet app?

If a spreadsheet can I get the template?

Thanks.

 

most trading software provides it.

 

or you can calculate it manually.

 

MFE = paper profit

MAE = paper loss

 

if your MFE/MAE ratio is ONE, then you are risking $1 to make $1

you are a breakeven trader at best.

 

if your MFE/MAE is larger than ONE, then you are in good hands... you risk less than $1 to make a dollar. You will go far.

 

 

if your MFE/MAE is smaller than ONE, then you will be in trouble sooner or later... you are risking more than $1 to make a dollar. The bad luck will eventually catch up to you.

Share this post


Link to post
Share on other sites

Tams, thanks.

I had a different understanding of MFA/MFE. I thought it was what a trader could do in a best case scenario. It is not necessarily what I am making now, on paper, or real. Not sure I can explain it that well, but here is an example. Let me know if I understand this correctly.

If I go long some asset at let's say a price of 100 and it goes up to 110, but I miss that best price and sell out at 105 then my win for the trade was 5 (105 -100), but the MFE (Max Favorable Excursion) for the trade was 10 (110 - 100). So what this analysis lets me do is see how much better I could be doing. Do I have this right?

Also, the software I use does not have an MFE/MAE output, so I am trying to create a spreadsheet with this calculation in it.

It would help if I could see someones data organization (column headings only) for the output so that when I create the spreadsheet I could have all the data needed. If that is something you could screen cap and include, I would appreciate it. If not maybe just tell me what platforms you know of that have this output and I will research them on my own,

Thanks.

Share this post


Link to post
Share on other sites
Tams, thanks.

I had a different understanding of MFA/MFE. I thought it was what a trader could do in a best case scenario. It is not necessarily what I am making now, on paper, or real. Not sure I can explain it that well, but here is an example. Let me know if I understand this correctly.

If I go long some asset at let's say a price of 100 and it goes up to 110, but I miss that best price and sell out at 105 then my win for the trade was 5 (105 -100), but the MFE (Max Favorable Excursion) for the trade was 10 (110 - 100). So what this analysis lets me do is see how much better I could be doing. Do I have this right?

Also, the software I use does not have an MFE/MAE output, so I am trying to create a spreadsheet with this calculation in it.

It would help if I could see someones data organization (column headings only) for the output so that when I create the spreadsheet I could have all the data needed. If that is something you could screen cap and include, I would appreciate it. If not maybe just tell me what platforms you know of that have this output and I will research them on my own,

Thanks.

 

yes, your understanding is correct. My description was too brief.

 

I should have said -- MFE = best possible paper profit while in a trade.

 

I use Brackettrader, which shows MFE and MAE numbers.

Share this post


Link to post
Share on other sites

I want to thank you guys for taking the time and answering my question.

i apologize for taking the time for participating in the thread i started, been away + it took some time for all the ideas / questions to settle in.

you sure have answered my question and raised a lot more http://cdn.traderslaboratory.com/forums/images/FH_Sahm/smilies/custom2/smile.gif

I could not have asked for better guidance then this thread gave me and i felt a need to post a thank you.

Share this post


Link to post
Share on other sites

It is suggested by one experience trader and trainer......that if you want to become more successful, then do not focus on a goal that will consume you and drain you like a vampire. The majority of people have very broad desires, such as I want to make more money. Enjoy the journey and focus on the path itself of setting goals that will lead you to achieve that desire. Lose your bird’s eye focus on the end result and concentrate on creating the stepping stones you will need to have the greatest probability of achieving your trading goal.

Share this post


Link to post
Share on other sites

well, i would say realistic goals are for me - small account with returns of 25-35% monthly with very small risk invloved. no more than following of 5 providers and corresponding trades. realistic goals are also to havea secured platform and brokers, registered and all (like mine for example zulutrade and aaafx, for example) that will guarantee that if smth goes wrong everything will be secured.

Share this post


Link to post
Share on other sites
well, i would say realistic goals are for me - small account with returns of 25-35% monthly with very small risk invloved. no more than following of 5 providers and corresponding trades. realistic goals are also to havea secured platform and brokers, registered and all (like mine for example zulutrade and aaafx, for example) that will guarantee that if smth goes wrong everything will be secured.

 

So your realistic goal is a small account, very small risk, but 1.25-1.75% return average per trading day... Ok. ;)

Share this post


Link to post
Share on other sites
well, i would say realistic goals are for me - small account with returns of 25-35% monthly with very small risk invloved. no more than following of 5 providers and corresponding trades. realistic goals are also to havea secured platform and brokers, registered and all (like mine for example zulutrade and aaafx, for example) that will guarantee that if smth goes wrong everything will be secured.

 

With small account, it is possible to achieve 25-35% return per month, but for limited time. I am saying "possible" coz usually traders use very high leverage on small accounts in order to gain big amounts which causes high return rate (if they r profiting). But in the end as the account gets bigger (lot size remains same), return rate will fall. If u make ur lot size bigger (proportionate to ur account), there is chance that u will loose everything within few days bcoz u r exposing urself to high risk.

Bottom line is 25% return per month, on consistent basis, is unrealistic goal.

Share this post


Link to post
Share on other sites
Hi, that's my first post over here. so first things first... hello everybody, i appreciate any comment/response.

 

I'm currently setting up my goals for my day trading and would appreciate your feedback.

I paper traded daily on futures for the last six month, i used the time for educate myself..... mainly blogs, forums and books.

I opened up a live account with 10K and would really like to know if I'm shooting to high on my goals.

my first goal is 300$ a day meaning 6000$ a month until July 2012.

I plan on making trading my main and single profession so i can quit my day job.

I appreciate any comment , tip or other realistic goals that will light my journey.

 

Thank you.

 

Tomer.

 

The first goal for any trader is simply learn the skill of following a plan consistently. It does not matter if the plan makes money or loses money, the goal is to follow a plan.

 

Once you have proven to yourself and built the trust within to follow the plan, finding a set of rules that will give you an edge in the next step. Then you will find out the rest along your journey and meet them head on as they come along.

 

It does not matter what your daily profit goal is if you cannot even follow a plan.

Share this post


Link to post
Share on other sites
With small account, it is possible to achieve 25-35% return per month, but for limited time. I am saying "possible" coz usually traders use very high leverage on small accounts in order to gain big amounts which causes high return rate (if they r profiting). But in the end as the account gets bigger (lot size remains same), return rate will fall. If u make ur lot size bigger (proportionate to ur account), there is chance that u will loose everything within few days bcoz u r exposing urself to high risk.

Bottom line is 25% return per month, on consistent basis, is unrealistic goal.

 

 

deppends on the size of the account. mine is small but not that small (i put 5000 euros). anyhow for me works pretty find and trust me this is an undervalued expectations, as there are people that make much more money, though I tend to be of more risk aversive nature ;)

happy pipping, mate! ;)

Share this post


Link to post
Share on other sites

The first goal of any new day trader or short term trader should simply to be profitable every month. Most don't come close to this. Most professionals don't either. But, most professional traders have a longer term time horizon as well when it comes to profitability.

Share this post


Link to post
Share on other sites
Reasonable, not ambitious goal for average trader is 10% month profit. It takes into account such important feature as consistency of earnings.

 

The above average trader will make 8+ percent a year and have an occasional losing year. How much he will make is a function of interest rates, volatility, talent, and being in the right place at the right time. The average trader will lose year in and year out.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.