Originally posted by Sasha

I wonder if all successful traders set profit target per day or they just keep trading until they r tired or they feel that profit potential for the day is over.

What do u think about it? is it necessary to set a daily profit target? How do u trade?

When I used to trade on demo, there were no targets. I keep trading until I get tired. In live, I set loss limit and sometimes profit limit.

Good question :).

It is an integral part of trading. I think traders should set profit and loss target. I set profit target but sometimes I dun follow it. 

Originally posted by Champ

Good question :).

It is an integral part of trading. I think traders should set profit and loss target. I set profit target but sometimes I dun follow it" />. 

Actually when u r profiting, u dun care much about targets.... U want to get more and more profit. Similarly when u r loosing u want to breakeven at least. So u keep trading and loosing. 

U need to develop Pro skills in order to strictly follow ur own rules.

Not a daily profit but in sense of take profit so i do it so because it gives you a fixed profit without your presence in the market but daily fix pips will always lead you to loss due to going against market even when it is not suitable to make money, 

Originally posted by bbasiit123

Not a daily profit but in sense of take profit so i do it so because it gives you a fixed profit without your presence in the market but daily fix pips will always lead you to loss due to going against market even when it is not suitable to make money, 

So u r talking about TP. Yes it is good to have SL and TP predefined. It is an important risk and money management technique.

Yes it is but including tp ans sl i also use buy limit orders like when the price reach my desired, it automatically buy my order and then sl and tp is already on it so it executes on its own.