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How to Set Trading Goals that Mean Business
Most traders and people learning to trade have trading goals. That’s a good thing because goals are very important.
However, the problem in most cases is that these goals have no practical purpose other than sounding fairly motivational.
The issue comes down to how we set our goals in the first place. A lot of the time, our goals just become one big wish list. After all, if you’re going to choose something that you want to achieve in your life, you might as well go big or go home!
Unfortunately, these goals often just become a source of guilt or disappointment when you look back on them and realise you haven’t achieved anywhere near what you wanted to.
What tends to happen with these huge goals is one of two things:
The worst case is that you need the discipline of a monk every single day to come anywhere near to conquering them, so you end up subconsciously giving up on the goal shortly after you start.
The best-case outcome is that you do manage to achieve brilliant things. But since these achievements are not quite at the level of the goals you set, you still feel disappointed at your perceived lack of accomplishment.
It’s a lose-lose situation!
