Losses Are Part Of It

Expect setbacks along the way:

Achieving trading goals isn’t always easy. Often unexpected events will pop up that derail your efforts. 

Don’t panic when this happens. Simply learn the lesson from the experience and move on.

For instance, you could ask the following when you encounter an obstacle: How did this happen? Could I prevent it from happening again? This is you Taking accountability!

Does it open the door for a different opportunity? 

Does it make me want to stick with my trading goals? do I change my goals ?

Or does it create a lack of motivation?

We all experience setbacks/losses. The difference between successful traders and the not-so-successful is how they handle them. 

If you can gain a little bit of knowledge from each “negative” experience, you can use this information to set better trading goals.

 The real secret to getting things done on a consistent basis is to plan out your weeks and schedule goal-specific activities. In the next chapter, we’ll talk about how to do it.

Comments

Post a Comment

Most Read

ACCOUNTABILITY IN TRADING

Image
Use Accountability to Stay Motivated whilst trading. There is a strong connection between goals and motivation.  Goal setting guides a person in achieving their desired outcomes, while motivation provides the psychological inspiration needed to take action.  You are more likely to take consistent action if you have a true sense of purpose while you work to achieve a goal whether in Trading Or anything else. Your motivation gives you that sense of purpose. Motivation is essential because it sparks both the physical and mental stimulation necessary to achieve your goals.  If your goals are motivating, you feel energized enough to stay committed, work hard and perform tasks in an efficient manner.   Why Do People Feel Unmotivated?   It’s surprising how often we feel unmotivated to do a specific activity—even if we know it’s directly related to an important goal.  There are a few possible reasons why you often get this feeling with a task:    It doesn...
Continue Reading

TRADING PLAN 01

I. Review your trading goals: Review your trading goals on a regular basis. The bare minimum should be once per week, but I actually recommend looking at them first thing in the morning and a couple more times throughout the day.   Consistently reading your goals acts a reminder for why you need to complete certain tasks and how they’re tied into your long-term plans. ( If you intend to become a Professional trader). Develop the habit of creating project lists for every goal.( example : when is the right time to enter a trade, right time to exist as well). List each action in the correct order and be sure to include any daily habits that are required. Set aside time in the first part of the day for the habit and then schedule other blocks of time to work on specific one-time tasks. Other people can help during the times when you’re not feeling motivated. Find others who share a similar interest and meetup on a regular basis. Talk about the challenges you face and ask for their a...
Continue Reading

As a trader do a Goal Evaluation Every Three Months

As a trader do a Goal Evaluation Every Three Months.You work hard on your goals every day.  You even review them on a weekly and daily basis. The problem? Some people never take a step back and understand the “why” behind each goal.  In other words, people don’t review their goals to see if they’re actually worth pursuing/Doing.  That’s why it’s important to have a goal evaluation every three months.   What’s the point of a three-month evaluation?  it helps you measure the progression of your long-term Goal. Then you’ll take a look at how your daily actions match your expectations.  And finally you end with an action plan for the next three months.   You can complete a three-month evaluation by asking a few simple questions to yourself: Have I attained the desired outcome from my daily/weekly trading goals ? What were the successful and unsuccessful strategies/tools?   Did I put 100 percent of my effort toward completing these goals? If not, why? ...
Continue Reading