Observing The Targets

I keep changing how I want to calculate my targets and therefore count when I surpass them. While I have tried to be conservative by using overall averages and not counting anything prematurely I do need to keep in mind my overall goal and use my targets accordingly.

My overall goal is to attain a consistent cashflow so using a total daily average is counter productive. Last month's daily average is good for last month but has little to no bearing on this month for more reasons than just my targets. I also expect to be increasing trade sizes at least once per month for a while so counting the averages based on the different trade sized trades might be good, but overly complicated. Once I switch to the next size up I could just restart my average counter.

Therefore, instead of just using an overall average I will be counting the current month's average and I may look at setting up some way of using a 20 day moving average to more closely reflect the true average. Starting over on a monthly basis is troublesome as it can look really good or really bad right off the start due ot the first day or so results. If I can come up with a relatively easy way to move the average I will do that.

After today with the current trades closed and this being the last trading day of the month my current month's average is $210.20 for daytrading only. That translates into $3993.

Last month was $119.30 and $2147 in profits.

That is a 76.2% increase in daily average and an 85.9% increase in total profits.

I only started 4 contract trades this week so there are very few trades based on this yet so the increase is due to just better trades overall. We had one great day too, May 17th, which cleared the $1900 in one day. When next month's averages and profits are larger again they will be due to increased trade sizes... and perhaps better trades again or maybe even more trades... but that remains to be seen.

I just noticed that today's numbers bump me well into the $21,000 mark overall.

Jeff.