Why do 90% of day traders lose money? I think they don't set realistic day trading profit goals.
Beginners always thought they can make day trading for a living. The end result was that they lost his life savings.
Generally, a professional day trader sets day trading profit goals of about 10 percent a year. This means that he can do about 1 percent a month and risk about 2 percent.
I'm sorry, I know you're surprised to hear from it.
Why do I set a lower monthly day trading target?
First, I will ask myself: why did I come to day trading markets? Why did I start my day trading business? It is obvious that I would rather challenge myself and do it better than make some quick money.
Second, I should avoid day trading mistakes and a big trading loss. I think it can help me go further in my day trading career.
Third, Jesse Livermore said in his "how to trade in stocks" that trading is a business and run it on principles. Therefore, I believe day trading is a business and must be approached with a serious attitude.
How to Get a 100% Monthly Return Day Trading?
First of all, I think it is not realistic day trading profit goals.
Second, if you are likely to make a continuous profit from day trading, you must lower down the goals to get the lower goal first.
Third, some top professional traders think average 10% a month is good enough. I will have you notice that they are best day traders!
What day trading goals have you set for yourself?
First, if you are a beginner, you must set a lower monthly target. Generally, 0.5% is realistic.
Second, if you are a part-time day trader, your monthly target is 1%, while risk about 2% is good enough.
Third, if you are going to day trading for a living, you have to look for an average of 2% a month is excellent performance.
How are you planning to achieve day trading goals?
I think my first priority is to control risk in day trading. Once I overlook this important goal, I am about to take on excessive risk.
Second, I will build a day trading plan, a day trading checklist and keep a day trading journal excel spreadsheet. I think they are the 3 essential trading tools all must have.
Third, I will open a demo account and test my day trading strategy. If I have never started my paper trading, I will can't track, measure my trading performance.
More reading: Key Habits For Traders In 2018 – How To Become The Best Trader Possible
How to Get a 100% Monthly Return Day Trading?
First of all, I think it is not realistic day trading profit goals.
Second, if you are likely to make a continuous profit from day trading, you must lower down the goals to get the lower goal first.
Third, some top professional traders think average 10% a month is good enough. I will have you notice that they are best day traders!
What day trading goals have you set for yourself?
First, if you are a beginner, you must set a lower monthly target. Generally, 0.5% is realistic.
Second, if you are a part-time day trader, your monthly target is 1%, while risk about 2% is good enough.
Third, if you are going to day trading for a living, you have to look for an average of 2% a month is excellent performance.
How are you planning to achieve day trading goals?
I think my first priority is to control risk in day trading. Once I overlook this important goal, I am about to take on excessive risk.
Second, I will build a day trading plan, a day trading checklist and keep a day trading journal excel spreadsheet. I think they are the 3 essential trading tools all must have.
Third, I will open a demo account and test my day trading strategy. If I have never started my paper trading, I will can't track, measure my trading performance.
More reading: Key Habits For Traders In 2018 – How To Become The Best Trader Possible
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