If you haven’t read the market wizards books, please do; especially the first one, it’s a classic. As you read these stories of successful traders, you will notice that they have enormous gains. I’m talking taking a few thousand dollars to hundreds of millions of dollars. In addition to the size of their gains, the consistency of their wins almost seems too good to be true. The reason their gains appear to have no limits is because these top traders do not think in terms of yearly targets or expectations for their trades.
They have their system and they take whatever the market presents to them. If this means a windfall profit, they do not look to rationalize the markets movements or exit the trade prematurely. They simply follow their rules and let the market goes wherever it must.
I magically came up with the bright idea to make a 100% in the market for 2016. To-date I am at 50%. The difference now is that I no longer have any expectations for gains. I must turn a profit, but other than that I’m done worrying about such things. If you set a target you will either fall slightly below it or above it. By placing this confine on your trading you will inevitably hit the target.
Michelle