The objective of setting a target is not necessarily to reach it, but rather to establish a standard against which to measure your performance. It you are not reaching your target, it forces you to focus on what you are doing wrong or what you may not be doing that you should. The target holds you to a higher standard of performance.
Being preoccupied with not losing interferes with winning. Trading not to lose is not a good strategy. You need to trade to win.
When a trader is on a winning streak, he is fearless, intuitive, and makes the right choices. When he is on a losing streak, he needs to visualize, remember, and feel those same positive traits so that when he comes into the office, he has the same attitude toward his trading as when he is in the middle of a winning streak.
You shouldn't think about making the loss back---that's too burdensome. You have to start where you are. OK, you're down, but what can you do this week, this month, and for the rest of the year? You have to try to regain a sense of control.
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