Ah, what the hell. I'll toss in a simple post.
The initial question is a good one and you show yourself to at least be thinking about things. Good. Every new trader asks he same question. In fact, I will surmise that you have put together a spreadsheet showing how much you can make. I sure did. A few times.
The idea of goals is a great one. One poster put up the idea of tiger woods going to a tournament with a goal in mind - winning it. An that we should follow suit.
Goals are critical, but I disagree Witt every poster in this thread on what it means. If you really listen to Tiger he goal is not to win, but to play the shot onfront of himself extremely well. Winning is a by product of that single goal. Setting that goal and focusing on he process to meet that goal with every shot is what makes Tiger, Tiger.
People set goals to lose weight. And the vast majoriy fail. Sound familiar? Weight loss is a by product, not a goal. I'll let you figure out what the real goals are that result in real and permanent weight loss.
Onto trading. Is a pip count really what a good goal consists of? No. Because you truly have no control over it. The only thing you *might* someday control is youself - and that is the crux of the matter. People fail in droves because they do not master themselves. Trading is far simpler than what we know - but as humans we make it very complex.
So a great goal is to focus on the 'process' of being a trader. Find out what that means, and you have a shot at success. A slim shot, but a hell of a lot more of a shot than what you have today.
Start with Bill Williams Trading Chaos. Focus on the first part of the book. Trading occurs in your mind and no place else. Start there.
The initial question is a good one and you show yourself to at least be thinking about things. Good. Every new trader asks he same question. In fact, I will surmise that you have put together a spreadsheet showing how much you can make. I sure did. A few times.
The idea of goals is a great one. One poster put up the idea of tiger woods going to a tournament with a goal in mind - winning it. An that we should follow suit.
Goals are critical, but I disagree Witt every poster in this thread on what it means. If you really listen to Tiger he goal is not to win, but to play the shot onfront of himself extremely well. Winning is a by product of that single goal. Setting that goal and focusing on he process to meet that goal with every shot is what makes Tiger, Tiger.
People set goals to lose weight. And the vast majoriy fail. Sound familiar? Weight loss is a by product, not a goal. I'll let you figure out what the real goals are that result in real and permanent weight loss.
Onto trading. Is a pip count really what a good goal consists of? No. Because you truly have no control over it. The only thing you *might* someday control is youself - and that is the crux of the matter. People fail in droves because they do not master themselves. Trading is far simpler than what we know - but as humans we make it very complex.
So a great goal is to focus on the 'process' of being a trader. Find out what that means, and you have a shot at success. A slim shot, but a hell of a lot more of a shot than what you have today.
Start with Bill Williams Trading Chaos. Focus on the first part of the book. Trading occurs in your mind and no place else. Start there.
I'm pretty much done with all this ...