Your Goals

[Grassroots]

Hey fellas,

Just wanted to get your goals or know if you set goals in the market. Of course our primary goal is to make positive capital, but I wanted to see if you set short term goals or long term goals. I like short term goals, I want to make 1% a day, and a goal of 5% in one week. They are goals, you might not reach em but I like setting something to shoot for.

- rob

[alexio senchez]

You have very conservative goals as opposed to most day traders Now, 1% off of what dollar amount?

My short term goal is to gain back about $9K that I've lost in the market over the past year or so. A $9k loss is a smack in the face, but it was due to mistakes that I will never repeat again. Once I break even, I hope to set a similar goal that you have. 1% a day from about $10-$15K is good enough for me

- alex

[JohnnyG]

Short term goal : get all necessary positions to achieve my long term goal.

Long term goal : 1M equity at age 30 , which leaves me 8 and a half years

[Gary]

Interesting topic fellows. Everyone should set a goal. What a person's goal is as we see here varies widely. Johnny G your goal is perhaps the easiest as far as the total dollar amount.

Let's assume you trade 250 days out of the year. (52 weeks - a 2 week vacation) * 5 days a week = 250 days. Now let's assume a minimal $2k investment to start with and for the sake of argument you are capable of maintaining a 1/2 of 1 percent daily gain on your investments. Let's also say that you only invest 80% of the equity each day. Well in 8 1/2 years you would have 64 million dollars, just a tad more than you wanted. Keep in mind that you are compounding your equity each day, because your equity grows each day.

Alex, using the same scenario as above. In order to make your $9K you would need to raise your daily rate of return to about 7/10 of 1 percent.

Of course using Rob's daily return he would have $19k within a year.

Whatever yours or my goal maybe, as long as we keep them realistic yours and my equity will continue to grow.

BTW JohnnyG keeping with the same scenario I described for you, it would only take 5 years for that first million.

[MontrealStocks]

That's an extremely positive way of looking at it Gary hehe.


Personally, I just want a steady gain on my capital while outperforming the market. I have other investment plans which include real estate and eventually, an engineering firm.

I have to agree with JM though, a million bucks before thirty sounds good. Financial stability is what I'm looking for though.