Art M
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Why having a daily profit target is important?
Art M replied to Andrew Aziz's topic in Risk, Account & Money Management
Having and adhering to a daily profit target is one more way to practice and incorporate discipline into one's day trading activities. Discipline helps to temper emotion. As Bear Bull traders, we've been well schooled on how emotion can cause loss of focus and lead to bad decisions. Ending one's trading day upon reaching a daily profit target fosters focus, control and effort needed to execute at your best knowing also that the reward of being finished for the day will be respected.
