Do you currently set goals for successful day trading or in fact for any type of trading?
How is that working out for you?
It is all very well setting goals but you need to make sure that you have some parameters around how you set your goals, in order for them to work for you.
As a trader you will want to have a trading plan and also goals that will come from working that plan. These will include financial and education goals around your trading and it is also a good idea to put in your personal, fitness and relationship goals as these have a huge bearing on your success as a trader. The better you are holistically, the better trader you become.
Following is a proven model for successful goal setting:
2. Realistic - when a goal is relatively easy for you to accept and is not too much of a leap from where you are currently, the unconscious mind can work with that and start having you put things in order for this to become a reality. E.g. If you are currently losing money in the market, it could be too big a jump for your unconscious mind if your first financial target goal was to make $1 million in the next 6 weeks. It could be far more effective to set this at $10,000.
3. Ecological - the execution of all goals needs to be safe to yourself and safe for others. This is just a step to ensure that what needs to happen does not include any possible harm coming to yourself, any other person, animal or the planet. I think you get the picture.
5. Timed and toward what you want - attach a time frame to your goal statement. Think about a realistic time frame that you can expect to work with this goal and always make the statement towards what you want not away from what you don't want. You will see in the following goal statement example how to best do this.
6. End Step/Evidence - you will need to ask yourself ' What will I be doing when I have achieved this goal that will mean I KNOW that it has happened?' What do you have to see, hear or feel in order to know?
So, get busy and C.R.E.A.T.E. your trading goals from the process above
Edited Article Source: http://EzineArticles.com
How is that working out for you?
It is all very well setting goals but you need to make sure that you have some parameters around how you set your goals, in order for them to work for you.
As a trader you will want to have a trading plan and also goals that will come from working that plan. These will include financial and education goals around your trading and it is also a good idea to put in your personal, fitness and relationship goals as these have a huge bearing on your success as a trader. The better you are holistically, the better trader you become.
Following is a proven model for successful goal setting:
1. Concise - ensure that your goal statement is simple and easy for both your conscious and unconscious mind to understand and then act upon.
2. Realistic - when a goal is relatively easy for you to accept and is not too much of a leap from where you are currently, the unconscious mind can work with that and start having you put things in order for this to become a reality. E.g. If you are currently losing money in the market, it could be too big a jump for your unconscious mind if your first financial target goal was to make $1 million in the next 6 weeks. It could be far more effective to set this at $10,000.
3. Ecological - the execution of all goals needs to be safe to yourself and safe for others. This is just a step to ensure that what needs to happen does not include any possible harm coming to yourself, any other person, animal or the planet. I think you get the picture.
4. As now - always have your goal stated as if you have already achieved it. Nothing is more powerful for your unconscious mind than to have every part of you feel that the achieving of this goal has already happened.
5. Timed and toward what you want - attach a time frame to your goal statement. Think about a realistic time frame that you can expect to work with this goal and always make the statement towards what you want not away from what you don't want. You will see in the following goal statement example how to best do this.
6. End Step/Evidence - you will need to ask yourself ' What will I be doing when I have achieved this goal that will mean I KNOW that it has happened?' What do you have to see, hear or feel in order to know?
So, get busy and C.R.E.A.T.E. your trading goals from the process above
Edited Article Source: http://EzineArticles.com
