Everyone knows goals are important. Most of us have set goals for our personal life. It should be no different for our Trading Life as well.
Personal goals may include losing some weight, exercising more, quitting smoking, being active in our community, or spending more quality time with our family.
In our Trading life, we set trading goals to be more organized, earn more money, grow a trading business, complete a trading course, or simplify our trading methodology.
These are certainly all worthy goals. However, most of these trading goals will not be achieved. Why? Usually, because they were not properly set, to begin with, or the person setting the goal was not committed to making it.
Your attitude is critical – To achieve anything worthwhile in life, you must have a positive mental attitude no matter what other successful attributes you possess. A positive mental attitude is an energy that when combined with your other skills and attributes, allows you to reach your trading goals. Success is achieved and maintained by people who work hard with a positive mental attitude.
I believe trading becomes fun when we set and achieve specific goals. All successful people have a definite purpose combined with a positive attitude. They regularly ask, “Where am I going? What do I want? What are my trading goals?” When this happens, trading becomes more enjoyable and rewarding instead of an unpleasant means of paying your bills. You become self-motivated and enthusiastic. And that enthusiasm turns into achievement!
Good self-managers enjoy their trading because they accomplish more, and they give themselves more credit. You can increase your performance by improving your self-management abilities. Setting personal and business goals are tools that will help you improve your self-management.
Example: My goal is to improve my trading profitability 25% over last year by year end. I will achieve this by solidifying my trading methodology and aggressively adhering to my trading rules.
The example above emphasizes doing something. It describes what the accomplished goal will look like.
Again, let’s use a trading example. Suppose your goal is to improve trading profitability 25% over last year by year end.
You can’t accomplish that aim or any other without first identifying what actions need to be taken and prioritizing them. In this case, you won’t achieve the goal until:
Celebrating your victories – Keep in mind the importance of achieving each of the steps is to help you reach your ultimate goal. The key is to know what actions you have to take and prioritize them, so they get DONE!
As the saying goes “Success is the journey, not the destination.” Enjoy the experiences along the way and celebrate each small victory. These little celebrations will help you get through the difficult times you will encounter. Every road to achieving your goals will have its bumps. Celebrating your victories will help you get through them.
Set your trading goals now. Consistently review them and redefine as needed. Know what actions to take and when to take them.
TESTIMONIAL DISCLOSURE: Testimonials appearing on www.IndicatorWarehouse.com may not be representative of the experience of other clients or customers and is not a guarantee of future performance or success.
LIVE TRADE ROOM DISCLOSURE: All presentations, videos, and information are for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.
Commodity Futures Trading Commission Futures and Options trading has substantial potential rewards, but also significant potential risk. You must be aware of the risks and be willing to accept them to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which Indicator Warehouse will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors.