Achievable Goals
Whether in Forex or everyday life, we are faced with goals and challenges that appear to be impossible or just so complicated that they are easier to avoid than to complete. We come up with big ideas that soon wither on the vine for lack of a practical way to see them through.
The answer is to break these huge objectives into a series of manageable tasks. By systematically completing these smaller tasks we'll get the self-satisfaction and feeling of accomplishment needed to propel us forward.
This outline isn't intended to be your personal template for success or a lesson in trading. It is meant to suggest a way of methodically questioning the practicality of your goals, and then to reduce your goal to manageable tasks. If you make revisions to this, in accordance with your own circumstances, you'll be able to call this your own.
Start by asking questions that will clearly define your goal(s). We'll consider these your defining questions. Since many here would like to become full time traders we can use that as an example.
Ask yourself (and actually write your questions and answers out):
.....1) Why do I want this? Break this down further and be specific in your answers.
..........a) Am I looking for freedom?
..........b) Do I sincerely feel self-employment suits me?
..........c) Do I think I'll be better off financially?
..........d) Am I qualified to do this?
Remember, these questions are examples. Be sure to add your own and answer them honestly.
Now zoom in a little. Start visualizing yourself in your new career by asking more questions.
......2) How do I picture my life as a trader? Is it realistic?
...........a) Where will I work?
...........b) What will my trading station look like?
...........c) What will my schedule be?
...........d) Am I willing to work odd hours to take advantage of the best trading hours?
...........e) Will I be prepared emotionally and financially for weeks or months of loss?
Ask all the questions that you can think of. This is an excellent time to reassess your goal. There is no shame in being a successful part-time trader. Many times, especially until you thoroughly prove yourself profitable, the benefits of keeping your job will outweigh the cost of lost trading time.
Now continue your defining questions.
.......3) Aside from trading, where will I need to expand my education?
............a) Tax Matters?
............b) Bookkeeping?
............c) Time management and organization skills?
............d) Computer skills?
This is a big one.
........4) Can I count on the support of my spouse and family? An unconvinced spouse can be both a major problem, or a valuable voice of reason, or both.
............a) Will the people in my life regard this as real work and respect my time?
............b) Do I have the discipline to work at home and ignore distractions?
Friends and family often feel that if you are home you are available to deal with any and all trivial matters that may crop up. Some diplomacy will be in order while creating rules and boundaries.
Now question the answers you gave to your defining questions. For eample, if you answered "Why Do I Want To Do This" with "Because I want my freedom", you had better detrmine if full time trading will grant you that freedom.
I'm not a full-time trader but I have been self-employed for almost 30 years and I'm well aware of the land mines that need to be navigated. In my case the freedom granted by self-employment is only an illusion, but a very satisfying one.
Now it's time to take into account what needs to be done. These manageable tasks will be short, medium, or long term objectives. Depending on your personal circumstance your list may look like this:
.....Short Term:
......1) Plan my trading station
......2) Go price some computer upgrades.
......3) Make a list of trading material I need to study and start planning a curriculum.
......4) Start networking with a few other traders through email or PM
......5) Start a seperate savings account for miscellaneous supplies, computer upgrades etc.
......6) Pick up a few books on tax matters and business planning
These are fun things to get the ball rolling.
.....Medium Term:
.......1) Learn how to develop a trading plan and begin outlining it. Keep revising until complete.
.......2) Follow my learning curriculum already developed in my short term tasks
.......3) Keep testing my trading systems. Play by the rules and give them a fair chance.
.......4) Keep up with my network of like minded people. Expand as I see Fit.
.......5) Tell the members of my network about my goals and time frames. This will hold me accountable.
.......6) Make sure I have my brokers' phone numbers everywhere that I might need it, including all phones.
.....Long Term:
.......1) Establish myself with an accountant familiar with Forex (only a fortunate few will find one locally)
.......2) Perfect my trading method until I'm completely confident with it.
.......3) Become intimate with my broker(s) Call customer service and make them earn my business. Make at least a small withdrawal from each to see how well they accommodate.
.......4) Upgrade computer. Buy a battery back-up and establish a back-up internet provider.
Again, these are only examples. You need to tailor this to your own situation.
This can be done with any monumental task.
......Define the objective.
......Question the Objective's purpose and practicality.
......Divide Objective into manageable pieces.
......Assign each piece to a timeframe.
......Carry it out!
There it is--all but the hard work.
Hope someone finds this useful.
Bill 
