First you need to clearly define your goal, for this we use this simple tips
Technique that helps you better define and achieve goals. Goals formulated using this technique are usually more realistic and achievable.
S - Specific (specific)
The goal should be well defined and specific.
M - Measurable
It should be possible to determine if the goal has been achieved.
A - Attainable
The goal should be realistic and achievable, despite the possible difficulties.
R - Relevant (actual)
The goal should be related to your actions and goals.
T - Time-bound (limited in time)
The goal must have a specific deadline.
Goal setting example:
- Specifically: Increase the average monthly profit
- Not specifically: Earn more
– Measurable: Increase monthly profit by 10%
- Immeasurable: Increase profits
– Achievable: Increase monthly profit by 10%
- Unattainable: Increase profits by 300%
— Actual: Increase the average monthly profit by 10% from trading
- Not relevant: Increase the average monthly profit by 10% (in some other business)
- Limited: Increase your average monthly profit by 10% in 3 months.
Result: Increase the average monthly profit from trading by 10% in 3 months.
Once we have set a goal, now we need to sketch out a rough list of how we can do this.
1. Determine the current level of trading skills through a self-assessment and determine the necessary improvements.
2. Study various trading strategies and choose the one that suits you best.
3. Create a realistic trading plan by defining goals and risks for each trading day.
4. Open a demo account and start trading strictly following the created trading plan.
5. Gradually increase the amount of trading sessions and risks, observing the principles of rational risk management.
6. Open a real trading account after successful completion of trading on a demo account.
7. Continue to trade, strictly following the created trading plan and the principles of rational risk management.
8. Study, read books, take courses, constantly improve your skills
9. Regularly analyze your trades to improve your trading strategy and increase efficiency.
Once the list is ready, now you need to break it and your goal into smaller goals and set them every week.
For example: Goal for the week, read 1 book, master 1 new strategy, make 10 trades on a demo account.
Finally, you need to break each of these goals into daily goals. Set them for a day and just like a robot go to fulfill them without hesitation.
For example: Goal for Monday, read 20 pages of a book, watch 1 webinar, make 2 trades on the strategy.
And finally, every week you track and adjust your progress as needed.
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✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
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