2013-th year is coming to an end, and so it's time to set goals for next year. We usually do this with the best intentions., but very often our goals are not destined to come true. And all this is because, that we set the wrong goals.
Too many goals
Simply put, you want everything at once. When setting a goal, traders often want to break the market, trade several thousand shares, learn several strategies and trade like traders with many years of experience.
The best choice would be to narrow down your goal and hone your skills in a particular field.. When you wake up in the morning, you must be clear about, what exactly you need to focus on, to succeed. When you set too many goals, becomes unclear, how to manage your time wisely. In this way, you'll lose it even more., thinking, how to put all things in their places.
If you have one big goal, for example, trade 1 000 shares in position, at first, it should be your only main goal.. If, in addition to the large, you have two or three small goals, it will be easier for you to organize your time.
Lack of goals, result oriented
Many of you know, that being overly result-oriented does not lead to anything good. However, some traders go to the extreme in this and generally ignore their results.. You should not ignore the results – they really matter! You do not need to look for an example of such a trader for a long time, Livermore, Jesse Lauriston won and lost multi-million dollar fortunes. Most famous for his arrival in $3 million and $100 million during stock market crashes 1907 And 1929 years respectively. But later he lost all that money.
Nothing teaches you that., what not to do, as the loss of everything, what you have. And when you understand, what you can not do or lose money, you start learning, what to do, to win. It is to learn.
Traders, who think, that setting results-oriented goals is bad, try to consciously or instinctively avoid failure. When they set goals, focused only on improving the quality of work, they reduce the chances of failure, but also reduce the chances of success.
Ideally, you need to set both goals., as they complement each other. Objectives, result-oriented, define the endpoint of the process, and goals, quality-oriented, define that, how to achieve this result.
In trade, when you determine, how much money you want to win or what limits you want to put on the day, you set the trajectory of your equity. Then you need to define goals., necessary to achieve the planned result. For example, learn new trading tactics, hire a coach, improve inputs. Ultimately,, Goal, result-oriented, create conditions for working on the quality of your trade, what makes your success in this case more likely.
Excessive optimism
Time, when you set goals, often affects your assessment of that, whether they are achievable or not. Too often, traders set goals either when they feel good., or when a new stage is started, whether it's the beginning of a new month, a year or after a long break.
If you set goals, when you are lucky, you expect, that it will always be so. For example, you set a goal to do in a year $100.000 after that. The problem is, that at this point you do not take into account the variance, and when it will inevitably start working against you, it will be difficult for you to maintain an adequate state, not only because, that losing is bad, but that's why, what will seem to you, that your dreams and hopes are not destined to come true.
When you set goals after a break or with the start of a new year, you, probably, will ignore your previous failures. When you are so optimistic about the future, you want to believe that, that they are able to achieve these goals. But you unknowingly ignore past mistakes., which needs to be fixed first, to be able to achieve a new result. Optimism is good, but only if you don't ignore the real problems because of it., which must be corrected.
Setting goals in a highly optimistic period, in fact, not harmful occupation, but, to make your goals most achievable, be ready, that things might not go according to plan. When you define your goals, think and take into account the obstacles, that may come your way. Spend some time on how to resolve these issues, before you start to develop the plan itself. In this way, you will be ready for them and, hence, they will not break you on the way to achieving your goal.
