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Depending on the instruments you trade I fond it helpful to think in points.
So for example having worked out you need $300 you might equate that to 12
e-mini S&P's a day, if trading 2 contracts and not scaling I would think of
that as a capturing 6 points movement. I think this abstraction helps keep
your mind off the money which is a good thing while actualy trading. Daily
weekly & monthly goals are hepful too. My current goals are 1) no looseing
days 2) after that 5 S&P points but not at the expense of number one. Mind
you Im currently in on of those drawdown periods so have revised my goals
accordingly
Cheers,
Nick.
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