Seasoned day trader, Dan, discusses the concepts of "day makers" and "day losers" in trading, explaining that a "day maker" refers to the daily profit target, which varies based on individual goals and account size. Over time, the his day maker target has increased in monetary terms but decreased as a percentage of his account. The "day loser" is the threshold of loss that, once reached, prompts Dan to stop trading for the day to prevent further losses. Emphasizing discipline, he highlights the importance of protecting capital, and adopting clear risk management on a daily basis and on an account level.
Seasoned day trader, Dan, discusses the concepts of "day makers" and "day losers" in trading, explaining that a "day maker" refers to the daily profit target, which varies based on individual goals and account size. Over time, the his day maker target has increased in monetary terms but decreased as a percentage of his account. The "day loser" is the threshold of loss that, once reached, prompts Dan to stop trading for the day to prevent further losses. Emphasizing discipline, he highlights the importance of protecting capital, and adopting clear risk management on a daily basis and on an account level.
