Some Examples of Trading Goals

Here’s some ideas for coming up with your list of goals related to trading.

Review your Statement of Income & Expenses
-how much money would you like to make next year?
-are there any expenses you would like to reduce or eliminate?

Review your Trading Journal.
-What would you like to make consistent (i.e. continue doing more of)? Trading coaches often advise that performance goals are more helpful than outcome goals. For example, if your outcome goal is to make $500,000 next year in trading, then a relevant performance goal might be to always use the 20 day moving average as a trailing stop to exit open positions.
-What would you like to do less of or eliminate?
-Are there any toxic people you need to avoid? Refer to the article in this blog about toxic people’s ill effects on your trading (Tuesday, July 18, 2006 “Profit by Skipping Out, 6”).
-Are there any helpful supportive people you need to interact more often with?
-How much time do you want to spend on trading? Would you like to spend more time on it or less time on it?

Review your collection of books and courses on trading.
-What books would you like to read again?
-What course materials would you like to review?
-What would you like to avoid reading again?

Review your story about your ideal life and compare it to your current life situation.
-what do you need to eliminate from your life to get from your current life to your ideal life in the category of “trading for a living”
-what is missing and that you need to add to get your ideal life in the category of trading

Continued tomorrow ...

Copyright 2006 Raymond T. Lee. All rights reserved.
Leisurely e-Mini Futures Trading
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