What are your future financial goals?

That is great my friend, but poorly the exact opposite is true for me.

Anyways, I think you can succeed because there are traders here at FF who did. I think medici is one of those. I have read many of his posts and I believe him.


Couple of years ago I started saving money. For me its halftime. Recently I reduced my working hours to 20 per week. That pays for the living costs. And I have three days per week for trading. My goal is to quit my job in 3-5 years.

All the best to you!

From a webinar by successful prop trader Tom Dante: "The money in this game tends to gravitate toward those that don't care for it. Those that try to attract loads of money into their life don't tend to get anywhere, and I have found this to be one of the very few prevailing truths. Which is why so many people make money on demo, and not when they go live, because they don't give a toss when there's no money involved. And it's the attachment to money that causes so many traders to lose."

Earlier in the same webinar, Tom says: "You can only get better at this game by one way, and one way only, and that is self-analysis. What am I doing well? What am I doing badly? What are my major weaknesses? And what are the specific steps I can take to become a better trader? These are the things that you constantly have to be asking yourself. Perseverance is all good, but you have to persevere in a way that is conducive to you improving as a trader, not just simply doing the same thing all the time, which is what so many people do."
Here is a link to the whole webinar (thanks to bloodpoodle for posting it). Highly recommended viewing (if you don't mind some bad language) IMO.

From a FF member who is a successful trader: "Trading is not about making money, it is about making good decisions. If you consistently make good decisions, you will make money. If you chase money, you will make poor decisions".

From the Market Wizards books:
These multi-millionaires have some things in common, in terms of what they predominantly focus on:
1. Improving their market analysis skills
2. Improving their consistency of execution
3. Managing risk more effectively

My own thoughts FWIW: I have found setting short-term goals and targets to be counterproductive. For example, supposing I set a weekly target of $500, and by Thursday I find I'm minus $250. So what should I do, for the rest of the week:
a) Try to make up the deficit by taking more trades, even if the setups don't comply with my plan ("overtrading")
b) Try to make up the deficit by taking larger position sizes ("overleveraging")
c) Try to make up the deficit by adding to losing trades, when my plan tells me to close them
d) Acknowledge that my returns fluctuate, to the point that my goal-setting is unrealistic, and therefore unhelpful
Hopefully the answer is obvious enough.

The moral of the story is: focus on the process, and let the money take care of itself.

Hence a good goal to write down might be: "My goal is to constantly improve my market analysis, execute my plan more consistently, and focus more on risk management".

My financial goal is to earn enough money from trading to support my modest lifestyle, and to strive daily to achieve a balanced, healthy and happy life. 5% per month would be plenty; my trading goal is simply to trade consistently well and not think about the money.

Its good when veterans can lead the way, i will look into these good points, i found myself crossing those bridges at different times and i am still crossing bridges...Thanks for taking the time to write this, so others like myself could learn something additional today...

I appreciate your plan especially your decent monthly target! I have seen, a number of Forex traders set unrealistic monthly target! As a result, they lose their so quickly! Forex trading is a pure definition of online business, so gambling is not possible here! By the way, I am trading with 10%.

12% monthly for the next 2 years.