Interested in your thoughts on daily profit targets. I'm trying out a new method, I am trying it so I lock in profits at $200 for the day, stop moves to breakeven automatically after 3 ticks.
Thing is, on quite a few occasions, plenty of profit is missed out on, this is the dilemma, enter my trade, moves in my favour, stop moves to B/E, get taken out at $200 profit, finished for the day. But alot of the times I'm finding the moves will continue on for quite a way, so I'm wondering whether having a daily profit target is a good idea or bad, good because it locks in profits, but bad because of potential profit missed, I can't decide.
Does anyone have this sort of thing for themselves? Or do you just keep it open slather, profit wise?