SHOULD TRADERS USE A DAILY GOAL?
The daily goal is a great benchmark if you have a problem with OVERTRADING
It can provide a “profit level” where you start to lean off the keys and really make sure any trades you take beyond that threshold are A+
The downsides of a daily goal for some traders is that they fixate on the number and lose sight of the quality of setup they are taking
They start trading anything and everything just to hit some PnL level
Of course, this is not how a daily goal should be used and if you find yourself prone to this type of behavior, the focus should be on quality of setup and then a hard time cutoff.
I’m curious - Do you use a daily goal?