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To earn $10,000 per month |
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To reach that goal within three months |
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You must have a clear, written vision of what you expect to get from trading, and those results must be deeply desired. |
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Let us illustrate the power of written goals. Some years ago a study of Yale University seniors found that 2 percent had specific written financial goals, 10 percent had specific verbal goals, and 88 percent had no goals at all. |
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Forty years later, the wealthiest 2 percent, without exception, were the 2 percent with written goals. Most amazing, there was no difference between those with verbal goals and those with no goals at all. |
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The point is very clearwrite down your goals! It is the tangible reality of seeing those goals in writing, of being able to measure yourself against those written goals, of having the realistic prospect of reaching those goals, that will enhance your motivation, strengthen your commitment, and optimize your performance. |
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Ask yourself these five questions (ask them now and ask them often): |
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1. Are my goals in writing? |
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3. Have I done something today to move me toward my goals? |
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4. Do I focus on my goals or am I mired in procedures? |
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5. Do I evaluate myself on my accomplishments or am I simply satisfied with activity? |
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Earlier in this chapter you were told to write down your goals. Go back to that list, were you honest with yourself? Did you write down exactly what you hoped to achieve? Were your goals specific, realistic, and measurable? |
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You may find as you try to articulate your goals that these four questions will help: |
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1. What are your trading goals? What do you want to accomplish as a trader? |
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2. Why are these goals important to you? |
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3. What is preventing you from achieving these goals right now? |
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4. What specific actions can you take to achieve your goals? |
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