This year had been my first yearin trading and to be honest I haven't lost any money but I haven't set the world on fire either... Both of these outcomes prevented largely to the fact that I haven't had enough free time to concentrate on this fully...
Well this year will be different... Why? well lets examine what Trading means to me and what it can do for my family....
1: Give me the ability to manage my own time
2: Actually watch my daughter grow up... I don't want to be one of these people who have o ask permission and book a day off just to go and see her in a school play!!!!
3: Give me the ability experince financial independence and maybe actually use my time to do other things like helping other people. I don't believe we are on this earth simply to work and die... We must have some sort of purpose to our lifes and I believe too many people are just going from day to day continuing the routine. In my life I would like to help others less fortunate and hopefully with the extra time an money trading could free up I will be ableto do this.
4: Enjoy life to its fullest.
How am I going to do that....
1: Deal with the Psychology of trading....
a) Plan my trades before I enter and rigidly follow my plan
b) Document each of my trades... but not only after the event but before I enter so I can begin to understand my thought process
c) Stick rigidly to my systems - Give them at least 6 months to work or not.... Under no circumstances will I system hop. So from this day foth I will not look at any other systems and I will give my current box of set-ups the best opportunity to be successful
d) Finally understand that losing is just part of the business and accept or even welcome those losses as an opportunity to learn.
e) Understand that we cannot see the future and all we are doing as traders is simply working on Probability... So with that in mind as per my system rules I will only be taking those trades with a high probability of working.
2: Set Realistic Targets
a) By March be trading profitably and Consistently
b) By June be earning enough money from trading to pay for half of my bills
c) By September be earning enough money to cover all of my bills
d) By this time next year be in a position to trade full time
This is my motivations and targets for 2007... I believe having this in front of me everyday will give me the discipline and motivation I need to achieve my ultimate goal of trading Professionally Full Time.
If any of you guys or Girls have Targets set out yourself then please feel free to post them as well.
As this thread here can act as a measuring stick to where you want to be and where you currently are and maybe we can all look back this time next year with the satisfying knowledge that we did actually achieve what we first set out to do.....
I look forward to all of your motivations and targets...
Well this year will be different... Why? well lets examine what Trading means to me and what it can do for my family....
1: Give me the ability to manage my own time
2: Actually watch my daughter grow up... I don't want to be one of these people who have o ask permission and book a day off just to go and see her in a school play!!!!
3: Give me the ability experince financial independence and maybe actually use my time to do other things like helping other people. I don't believe we are on this earth simply to work and die... We must have some sort of purpose to our lifes and I believe too many people are just going from day to day continuing the routine. In my life I would like to help others less fortunate and hopefully with the extra time an money trading could free up I will be ableto do this.
4: Enjoy life to its fullest.
How am I going to do that....
1: Deal with the Psychology of trading....
a) Plan my trades before I enter and rigidly follow my plan
b) Document each of my trades... but not only after the event but before I enter so I can begin to understand my thought process
c) Stick rigidly to my systems - Give them at least 6 months to work or not.... Under no circumstances will I system hop. So from this day foth I will not look at any other systems and I will give my current box of set-ups the best opportunity to be successful
d) Finally understand that losing is just part of the business and accept or even welcome those losses as an opportunity to learn.
e) Understand that we cannot see the future and all we are doing as traders is simply working on Probability... So with that in mind as per my system rules I will only be taking those trades with a high probability of working.
2: Set Realistic Targets
a) By March be trading profitably and Consistently
b) By June be earning enough money from trading to pay for half of my bills
c) By September be earning enough money to cover all of my bills
d) By this time next year be in a position to trade full time
This is my motivations and targets for 2007... I believe having this in front of me everyday will give me the discipline and motivation I need to achieve my ultimate goal of trading Professionally Full Time.
If any of you guys or Girls have Targets set out yourself then please feel free to post them as well.
As this thread here can act as a measuring stick to where you want to be and where you currently are and maybe we can all look back this time next year with the satisfying knowledge that we did actually achieve what we first set out to do.....
I look forward to all of your motivations and targets...