@Manpower89 in addition to what others have said, in my view there’s no sense in targeting a daily financial amount. The market has good days, bad days, I get that you can average out your earnings over time but still, I think that targeting a numeric goal is the wrong approach. I have always aimed to hit a percentage return over a period of time, say a quarter. Depending on your strategy, you can have a losing day or even week (some higher TF trading can be very low frequency) and it not be a disaster. A few years ago, USD/SGD was in a beautiful trend and I hit 19% of my account in one trade over a few weeks. Happy days! But during the same period I would also take a 1% profit on a separate Intraday trade and be just as happy. A winning trade, entered according to one’s strategy, is great news. A losing trade, entered according to one’s strategy, can still be good news as it is a learning point and builds up a bank of confidence (as long as the reasons for the loss are researched and understood). A winning or a losing trade placed for no good reason is all that would worry me. If a trader has a consistent approach and is right more often than they are wrong, then they will make a return by regularly taking money out of the market. So for me, consistency and a considered approach are the most important thing.
Your opening question is, for me, the wrong question, as account size and approach are vital components of any answer. Give me a $500 account and I guarantee you that I won’t make $200 a day as my trading approach doesn’t give me that potential, that latitude, I am simply never that exposed to the market. But that doesn’t mean that I don’t know what I am doing - I just know what sort of trader I am. For what it is worth, in my view targeting $200 per day on anything like that sort of account size is folly. Personally, I never have more than 5% of my account exposed to the market at any one time, and I never risk more than 1% at a time on a single trade.
But the fact that you are here, asking these sorts of questions, is a good sign. Just do please heed the answers!! Ask lots of questions, get lots of answers, and don’t assume that you can mirror your demo performance when trading live. There’s a lot more going on when you have some skin in the game!!
Hopefully none of that presents as patronising - it is intended purely to be helpful.
Good luck out there,