Personally, I treat trading as a wealth building exercise...
You're talking about the longer term holding instead of day trading accounts. The strategy for that, of course, is totally different than day trading. Yes, it's a "wealth building" process.
But, even for my SEP IRA and long term portfolios, I don't set my goals like that. I only take one trade at a time. I guess that's why for me "profit protection" is so important. To me, earning $1 is much better than $0 or losing.
It just works out so much better for me to take small increments to get to $1 million as a working class trader than trying to get $1 million all at once.
I totally agree with you that getting large sums of money is a process which involves raking in smaller gains over and over.
I trade the market swings which last from 1-2 days to 2-3 weeks. And since I am a trend follower - I do not or cannot set any goals for my accounts. I picked 25% return because it is a figure that can be achieved reasonably by most traders/investors in most years.
I have tried day trading but from what I found - I could make a better living (and take upon less stress) by going out there and taking up a conventional vocation.