Closing down trading after reaching a predefined level of profit on the day?

[rik]

if you stand in front of a cash machine that keeps giving money do you walk away after £100?
half the threads its the same nonsense over and over
you have an edge you keep your bot on, you dont have one you try to get one

[Derek27]

Not sure I follow Derek?

I make a profit every day,

If you've never had a losing day I take my hat off to you!

What I was getting at is why stop for the day? Why not the hour or the week?

It's rather like the Martingale where instead of chasing losses you're chasing lack of profit, trading markets you wouldn't be trading if you won previously.

I agree. Could miss out on a beauty of a day.

That post is almost two years old. The thread's just been revived by a new poster.

[Derek27]

if you stand in front of a cash machine that keeps giving money do you walk away after £100?
half the threads its the same nonsense over and over
you have an edge you keep your bot on, you dont have one you try to get one

The idea is to give others their fair share.

[ANGELS15]

Can anyone help with this please?

I trade every day (automated) using the remote VPS service.

Each day I make a profit and after looking back on my results it is evident that it might be more profitable to close all remaining automation/trades once I hit a certain amount of profit on the day.

Some days I make way in excess of what I would class as a target profit, some days I go past it and then come back below it on the close of play (i.e after all markets have traded from my list in Guardian).

So could some advise how I might be able to create a rule that says after I have made £100 profit in a day, all the remaining markets in Guardian are not traded on?

I could make my target profit after 5 races, 12 races, 20 races, there is no fixed number, but what I do want to do is close trades on everything so that I retain that profit each day and generate a regular daily return.

Thanks

KL

Firstly congratulations on developing a successful trading strategy. Just an opinion and not a criticism, but surely won't things average out over time?

If I had strategy like this personally I would trade all the markets on my daily list. You say some days you may make much more than the £100, lets say you made £300 but the next day you may have a small loss, say £20. Isn't that just the natural way of these things?

There were punters I knew who had an approach 'stop at a winner'. They may have had a half dozen races they were interested but stopped after the first winning race missing other winners. Next day the 1st 6 races could be losers.

If the strategy is sound you'll make a profit over time all the same.

[Derek27]

Can anyone help with this please?

I trade every day (automated) using the remote VPS service.

Each day I make a profit and after looking back on my results it is evident that it might be more profitable to close all remaining automation/trades once I hit a certain amount of profit on the day.

Some days I make way in excess of what I would class as a target profit, some days I go past it and then come back below it on the close of play (i.e after all markets have traded from my list in Guardian).

So could some advise how I might be able to create a rule that says after I have made £100 profit in a day, all the remaining markets in Guardian are not traded on?

I could make my target profit after 5 races, 12 races, 20 races, there is no fixed number, but what I do want to do is close trades on everything so that I retain that profit each day and generate a regular daily return.

Thanks

KL

Firstly congratulations on developing a successful trading strategy. Just an opinion and not a criticism, but surely won't things average out over time?

If I had strategy like this personally I would trade all the markets on my daily list. You say some days you may make much more than the £100, lets say you made £300 but the next day you may have a small loss, say £20. Isn't that just the natural way of these things?

There were punters I knew who had an approach 'stop at a winner'. They may have had a half dozen races they were interested but stopped after the first winning race missing other winners. Next day the 1st 6 races could be losers.

If the strategy is sound you'll make a profit over time all the same.

FFS, you're replying to a post almost 2 years old by a poster that hasn't been active for 18 months and is unlikely to read your reply.

[ANGELS15]

Can anyone help with this please?

I trade every day (automated) using the remote VPS service.

Each day I make a profit and after looking back on my results it is evident that it might be more profitable to close all remaining automation/trades once I hit a certain amount of profit on the day.

Some days I make way in excess of what I would class as a target profit, some days I go past it and then come back below it on the close of play (i.e after all markets have traded from my list in Guardian).

So could some advise how I might be able to create a rule that says after I have made £100 profit in a day, all the remaining markets in Guardian are not traded on?

I could make my target profit after 5 races, 12 races, 20 races, there is no fixed number, but what I do want to do is close trades on everything so that I retain that profit each day and generate a regular daily return.

Thanks

KL

Firstly congratulations on developing a successful trading strategy. Just an opinion and not a criticism, but surely won't things average out over time?

If I had strategy like this personally I would trade all the markets on my daily list. You say some days you may make much more than the £100, lets say you made £300 but the next day you may have a small loss, say £20. Isn't that just the natural way of these things?

There were punters I knew who had an approach 'stop at a winner'. They may have had a half dozen races they were interested but stopped after the first winning race missing other winners. Next day the 1st 6 races could be losers.

If the strategy is sound you'll make a profit over time all the same.

FFS, you're replying to a post almost 2 years old by a poster that hasn't been active for 18 months and is unlikely to read your reply.

lol WTF! I saw the other recent replies and didn't check the date of the op. Thanks for pointing it out!