hey, If my risk per day is 6000 rupees or 3% of my capital, then what should be my profit goal for the day?
Risk reward ratio. Most recommend 1:3 and that would entail profit even if you are wrong many times than right. But humans aren’t suited to being wrong more times than right. It’s a burden on the mind. A better psychological RR is 1:1 or even lower. Profits are lower, but you’re right more times than wrong. It’s important to feel good about any activity that you’d do. Also time spent looking on the screen should be added to “risk” or “investment”. Less the better. Take very comfortable positions. Make less profits. And your mind will thank you for it. Enjoy.
thanks