Timeframe Goals and whether to keep trading

Beginner Questions Trading Psychology
#1

So, on the one hand I feel I know my answer to this, but on the other, I’m curious as to what others think.

If you have a weekly/monthly/yearly goal for you trading, whether it’s pips profit/% increase/etc, when you clear that goal, do you stop trading for the period? or do you keep trading if you see good entries and try and pad out profits for the periods where you will inevitably miss on your goals?

For me, I lean to the latter, I’m not always going to hit my goals, so I should try and make what profits I can when I can. But at the same time I do see some value in just stopping, and locking in the Goal Clear status for the timeframe. What are people’s thoughts?

#2

Keep trading. A good strategy will just keep performing - the market won’t change its behaviour because you hit a target number, it will keep doing what it does, go with it.

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#3

of course

you have your “edge” over the market (otherwise you wouldn’t be trading at all, would you?), and the market doesn’t know when you’ve reached your target

once you have your edge, you should use it as often as you reasonably can - it’s all part of a longer-term, statistical, probability-process, and the more you use it, the better you’ll do, in the long run

the long run is what matters

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#4

I don’t, actually.

Unless you’re trading some system requiring specific times of day only, or whatever.

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#5

I think this response is just it for me.

In as much as may have a specific time period or number of trades I may take per day when I start trading, I don’t think I should let go if I find a good chance of entry.

After all, the probability of getting a sure entry often is 1/2. So whenever I see such, I grab them and rest when I don’t.

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