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Learn to craft trading goals that make a difference
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Learn to Craft Trading Goals That Make a Difference
Everyone knows goals are important – Everyone of us has 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 goals to be more organized, earn more money, grow a trading
business, complete a trading course, or simplify our methodology.
These are certainly all worthy goals. However, most of these goals will not be
achieved. Why? Usually because they were not properly set to begin with, or the person
setting the goal was not really committed to achieving 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 the energy that when combined with your other skills and attributes, allows you
to reach your goals. Success is achieved and maintained by people who work hard with a
positive mental attitude.
I believe trading actually becomes fun when we set and achieve specific goals. All successful
people have a definite purpose combined with a positive attitude. They constantly ask,
“Where am I going? What do I really want? What are my 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!
The importance of self-management – 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.
The Secret to Achieving Goals
1. Be Positive - State what you want to do. If you want to avoid or stop doing something,
state your goal in terms of what you want to do instead.
2. Set a Deadline - A deadline provides you with the needed time frame for achieving
your goal. It gives you something to aim for.
3. Be Specific - You’ll want to measure your progress as you work toward your goal. The
more specific your goal, the easier it is to measure your progress. Always quantify your
goal.
4. Be Realistic - Goals should be realistic and yet cause you to “stretch” to reach it.
Setting unrealistically high goals will cause you or your people to feel badly for attaining
only 90%, or worse, they may not even try to make it. Better to set smaller goals, meet
them, and then set a higher goal.