I have been asked a few times recently about my “Daily Trade Target” so I thought I would include a short explanation here today.

My daily target has been 20 pips for as long as I can remember (certainly back to the 1990′s) and traders who have been in the markets for any length of time will know that this very small daily profit, if compounded, will result in phenomenal earnings over a few years.  There is no real need to strive for hundreds of pips per day, it is just not worth the stress, it is far better to just trade for a few hours a day whenever the mood takes you, rather than working long hours in front of your charts – if you want to work 30 – 40 hours a week, get a normal job !

My beginner’s trading system (Trade With A Day Job) has this small target for each trade and when you are learning to trade having this small target to aim for promotes confidence and keeps stress at bay, which is needed in the beginning of any career.

For more info on compounding, just email me here