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.

shooly76

Keep Trading AFTER Monthly Goal is Hit?

Recommended Posts

Im finally getting ready to start trading a live acct. I have been studying and learning for about 4 years and I am now ready to go live. I have been fine tuning my system for about 3 months.

 

I will start out trading 1 contract.. (add 1 ct per every $5000 gained). my goal is $2000 net profit, or about 200 net ticks per month.

 

I trade intraday.. TF, CL, GC, and 6J.. I use tick charts...144, 233, and 610.

 

my system is an overall winning sytem, so my question is this: should I trade every set up I see, or trade more conservatively..ie..stay out after I net 20-40 ticks...per day? with this being said, should I stay out if I meet my monthly goals? or keep trading my set-ups evenafter monthly goals are met?

 

I figure if I meet my monthly goal of $2000 per contract per month, then I should stay out, thus limiting my risk even further.

 

just would like to know other traders thoughts on this particular aspect of money management. thanks in advance

Share this post


Link to post
Share on other sites
Im finally getting ready to start trading a live acct. I have been studying and learning for about 4 years and I am now ready to go live. I have been fine tuning my system for about 3 months.

 

I will start out trading 1 contract.. (add 1 ct per every $5000 gained). my goal is $2000 net profit, or about 200 net ticks per month.

 

I trade intraday.. TF, CL, GC, and 6J.. I use tick charts...144, 233, and 610.

 

my system is an overall winning sytem, so my question is this: should I trade every set up I see, or trade more conservatively..ie..stay out after I net 20-40 ticks...per day? with this being said, should I stay out if I meet my monthly goals? or keep trading my set-ups evenafter monthly goals are met?

 

I figure if I meet my monthly goal of $2000 per contract per month, then I should stay out, thus limiting my risk even further.

 

just would like to know other traders thoughts on this particular aspect of money management. thanks in advance

the market knows nothing of your monthly goals. By all means keep trading unless you find that mentally you are becoming sloppy and taking risks you normaly would not take, after you reach you monthly goal. Ultimately the goal is to continue taking money out of the markets. Each day is a new day to do so.

Share this post


Link to post
Share on other sites
with this being said, should I stay out if I meet my monthly goals? or keep trading my set-ups evenafter monthly goals are met?

 

Are you sure you're ready to start trading?

 

If your strategy has a positive expectancy then you'll want as much opportunity to exercise that edge as you can get (i.e. you keep on trading). If you don't really have an edge and you lose in the second half of a month what you made in the first, then that would be chance, and nothing to do with money management.

 

The only possible exception might be when dealing with OPM and benchmarks.

 

BlueHorseshoe

Share this post


Link to post
Share on other sites
Im finally getting ready to start trading a live acct. I have been studying and learning for about 4 years and I am now ready to go live. I have been fine tuning my system for about 3 months.

 

I will start out trading 1 contract.. (add 1 ct per every $5000 gained). my goal is $2000 net profit, or about 200 net ticks per month.

 

I trade intraday.. TF, CL, GC, and 6J.. I use tick charts...144, 233, and 610.

 

my system is an overall winning sytem, so my question is this: should I trade every set up I see, or trade more conservatively..ie..stay out after I net 20-40 ticks...per day? with this being said, should I stay out if I meet my monthly goals? or keep trading my set-ups evenafter monthly goals are met?

 

I figure if I meet my monthly goal of $2000 per contract per month, then I should stay out, thus limiting my risk even further.

 

just would like to know other traders thoughts on this particular aspect of money management. thanks in advance

my system is an overall winning sytem, so my question is this: should I trade every set up I see, or trade more conservatively..ie..stay out after I net 20-40 ticks...per day? with this being said, should I stay out if I meet my monthly goals? or keep trading my set-ups evenafter monthly goals are met?

 

 

I used to ask myself the same question on a daily basis. I would be in profit for the day and wonder if I should keep going. I also thought about the signals and which ones were good and which ones were bad.

 

I take EVERY signal that is generated by my method.....yes I said EVERY ONE.I asked a trader friend of mine this question about 5 years ago and he said this : The problem is you never know which set ups are going to be the huge payoffs and which ones are not...the only way to know is to take every one of them.

 

Of course MM is incorporated into this as you need to be able to get out quick when you are wrong but also get in if the direction changes. I trade 2 contracts always ......1 contract is for a specified amount of ticks and the other just goes on until the market takes me out.

 

A good example of this was this morning in the YM ....huge move after the NY open .....I got short ...took 10 ticks and then let the other contract ride the wave..... wound up with 70 ticks total on that Bad boy ...... before that I had about 3 losing trades to start the day. Now if I let my emotions get to me and skipped the next signal I would have missed that huge move. I have been burned to many times by not taking every signal.....overall the winners more than make up for the losses and then some.

Share this post


Link to post
Share on other sites
Im finally getting ready to start trading a live acct. I have been studying and learning for about 4 years and I am now ready to go live. I have been fine tuning my system for about 3 months.

 

I will start out trading 1 contract.. (add 1 ct per every $5000 gained). my goal is $2000 net profit, or about 200 net ticks per month.

 

I trade intraday.. TF, CL, GC, and 6J.. I use tick charts...144, 233, and 610.

 

my system is an overall winning sytem, so my question is this: should I trade every set up I see, or trade more conservatively..ie..stay out after I net 20-40 ticks...per day? with this being said, should I stay out if I meet my monthly goals? or keep trading my set-ups evenafter monthly goals are met?

 

I figure if I meet my monthly goal of $2000 per contract per month, then I should stay out, thus limiting my risk even further.

 

just would like to know other traders thoughts on this particular aspect of money management. thanks in advance

 

Traders are risk takers,naturally. You should continue even after reaching your monthly goals. Besides,some months may be difficult and hinder you from reaching your goals. The months you make more than your goal should cover up for those.

Share this post


Link to post
Share on other sites

You don’t have any reason to stop even when you hit the point mark; because you are not even sure you will hit it next trading month; one of my trading goals for this month was to make over 100 pips into my Profiforex trading account which I attained today; but guess what, am going back to trade tomorrow.

Share this post


Link to post
Share on other sites
Im finally getting ready to start trading a live acct. I have been studying and learning for about 4 years and I am now ready to go live. I have been fine tuning my system for about 3 months.

 

I will start out trading 1 contract.. (add 1 ct per every $5000 gained). my goal is $2000 net profit, or about 200 net ticks per month.

 

I trade intraday.. TF, CL, GC, and 6J.. I use tick charts...144, 233, and 610.

 

my system is an overall winning sytem, so my question is this: should I trade every set up I see, or trade more conservatively..ie..stay out after I net 20-40 ticks...per day? with this being said, should I stay out if I meet my monthly goals? or keep trading my set-ups evenafter monthly goals are met?

 

I figure if I meet my monthly goal of $2000 per contract per month, then I should stay out, thus limiting my risk even further.

 

just would like to know other traders thoughts on this particular aspect of money management. thanks in advance

 

Trading out of the plan kills money management.

Main rule in money management - you should stick to it. If you make even one trade out of that then it breaks the setup and it's hard to come back to normal trading.

You can be clueless about trading strategy etc but able to manage bets effectively and you will be on the winning side. Easy as that.

Share this post


Link to post
Share on other sites
the market knows nothing of your monthly goals. By all means keep trading unless you find that mentally you are becoming sloppy and taking risks you normaly would not take, after you reach you monthly goal. Ultimately the goal is to continue taking money out of the markets. Each day is a new day to do so.

 

The problem here is that it might be too late when you realise you're getting sloppy and lose concentration if you already lose your money. Not sure it's worth getting yourself to this stage...

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

    • In Italy, I saw many of our brothers from different parts of Africa, sleeping and living in the park, the weather was very cold and its obvious that they were looked down upon. It made me want to cry and several questions overwhelmed my heart.   Is it not better to remain in Africa than to be homeless in this freezing cold weather?   I wish I have all the money in the world to rescue them...   Is this the reason why our skin color is looked down upon?   Do our government officials see this sight when they also travel outside of the country...does it hurt them or pain them like it pained me? By Frank Abah, Quora   Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • ELV Elevance Health stock, watch for an upside gap breakout at https://stockconsultant.com/?ELV
    • ORLY OReilly Automotive stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?ORLY
    • Date: 28th March 2025.   Market Selloff Deepens as Tariff Concerns Weigh on Investors     Global stock markets extended their losing streak for a third day as concerns over looming US tariffs and an escalating trade war dampened investor sentiment. The flight to safety saw gold prices surge to a record high, underscoring growing risk aversion. Stock Selloff Intensifies The MSCI World Index recorded its longest losing streak in a month, while Asian equities saw their sharpest decline since late February. US and European stock futures also signalled potential weakness, while cryptocurrency markets retreated and bond yields edged lower. Investors are scaling back their exposure ahead of President Donald Trump’s expected announcement of ‘reciprocal tariffs’ on April 2. His latest move to impose a 25% levy on all foreign-made automobiles has sparked fresh concerns over inflation and economic growth, prompting traders to reassess their strategies. Investor Strategies Shift Market experts are adjusting their portfolios in anticipation of heightened volatility. ‘It’s impossible to predict Trump’s next move,’ said Xin-Yao Ng of Aberdeen Investments. ‘Our focus is on companies that are less vulnerable to tariff policies while taking advantage of market dips to find value opportunities.’ Yield Curve Signals Economic Concerns In the bond market, the spread between 30-year and 5-year US Treasury yields widened to its highest level since early 2022. Investors are bracing for potential Federal Reserve rate cuts if economic growth slows further. Long-term Treasury yields hit a one-month peak as inflation risks tied to tariffs spurred demand for higher-yielding assets. Boston Fed President Susan Collins noted that while tariffs may contribute to short-term price increases, their long-term effects remain uncertain. Gold Hits Record High as Safe-Haven Demand Rises Amid market turbulence, gold prices soared 0.7% on Friday, reaching an all-time high of $3,077.60 per ounce. Major banks have raised their price targets for the precious metal, with Goldman Sachs now forecasting gold to hit $3,300 per ounce by year-end. Looking Ahead As investors digest economic data showing US growth acceleration in Q4, attention will turn to Friday’s release of the personal consumption expenditures (PCE) price index—the Federal Reserve’s preferred inflation measure. This data will be critical in shaping expectations for future Fed policy moves. With markets on edge and trade tensions escalating, investors will closely monitor upcoming developments, particularly Trump’s tariff announcement next week, which could further dictate market direction.   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.   Andria Pichidi 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.
    • Crypto hype is everywhere since it also making new riches as well, i however trade crypto little as compared to other forex trading pairs.
×
×
  • Create New...

Important Information

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