Is it wise to make it a game?

Beginner Questions Trading Psychology
1

I’ve been wondering about this.

Is it wise to make it a game about how many pips per day you can collect ? Is that a fair way of going about it, or is it the wrong approach ?

Thanks

2

Setting a target is helpful. However, don’t take your trading decision solely depend on the target.

3

Don’t worry about pips, they don’t mean anything real. Profit as a percentage of your account is the most important metric, and per month / per year, not per day even for day-traders.

2 Likes
4

Pips doesnt count,what you should AIM is profit as a percentage per day for ex 10-20 or per month. You dont trade pips,you trade with real money my friend :joy:

1 Like
5

Thank you everyone. Appreciate the advice.

6

Well, if I asked you this question what would be your answer?

7

First instinct would be to make it a game, because I bet a fair amount on sports, and an unwritten rule in betting, is concentrate on getting wins, not on the money.

8

Probably wrong as you could end up over trading and taking unnecessary risks

9

That makes sense. Thank you.

10

Well, then make it a game. Whatever you need to do to be profitable.

11

It usually falls under the plan. Every trading style needs a plan. How many pips I get depends on my analysis. But in this case, I must manage the risk ratio.

12

It is not possible to make a profit by trading every day. Sometimes it takes to take a loss and it is possible to learn from this loss. Must have a profit target. To achieve this, you need to have a trading plan in mind.

13

It is good to set your trading goals and strive to achieve it but measuring it in pips is not the correct way to do. Start taking out the percentage of the account to measure the real growth.

14

Thank you everybody.

1 Like
15

It would be silly to have a wrong or right answer to this one. I think you should try it and if it works for you then that’s what you should go with. Personally I can’t do this because I’m still far too emotional when it comes to trading. Treating it like a game will just amplify the win/lose feeling. :confused:

16

Not at all, as a former pro gamer this is why I am such a good trader.