What have you determined to be your goal(s) for trading?
This can be expressed monetarily using a profit goal (either in currency or percent return) per unit of time.
For example, you might choose a goal like making $4,223,834,145.53 per month, or achieving a 529% return every week.
This doesn’t necessarily have anything to do with money.
Like “My goal for trading is to make enough money to be able to buy them new Space Jam Jordan 11s so I can impress my lady crush and she can fall in love with me and we can live happily ever after.”
Or “My goal is to have enough money to have plastic surgery so that I can look like Halle Berry and have everyone eating out of my hands.”
Okay.
We lied.
Everything has to do with money.
Whatever you decide, just make sure it’s specific and measurable.
Set trading goals that will help you develop as a trader.
It can’t be vague like “I want to be rich”.
Changing it to “I want to be super rich.” does not count.
Be specific!
“I want to make 1% every week.”
“I want to be winning 50% of the time by the end of this year.”
“I want to double my account in six months.”
“I don’t want to make any trading mistakes for the day.”
By making your goals specific and measurable, not only will you know what you really want, but you’ll be able to monitor your progress and see whether you are improving or not.
If they are not specific, you’re just wasting your time.
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