The target should not be determined based on pip acquisition per day, because market conditions are inconsistent; but based on the probability of profit from the overall trading which is commonly called the expectation of profit or expectancy.
I think the weekly target is more appropriate. if my weekly profit can be consistent 100-200 pips.
weekly targets for that can be done bro. if my target is maximum profit without restrictions.
indeed, the target per week is also quite good and more relaxed than the daily target.
not only that weekly trading is more able to generate more profits.
for monthly how do you think. what is the right target.?
The target should not be determined based on pip acquisition per day, because market conditions are inconsistent; but based on the probability of profit from the overall trading which is commonly called the expectation of profit or expectancy. The profit expectation is calculated from the amount of the average profit in the times of trade and loss on average in the number of trade times. It is also important to note: usually, targets are determined after a long trading period (for example 6 months or a year), not a very short trading period such as a day or 2 days.
My profit target is only 10 pips per day with 0.05 lots with $ 100 capital.
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