Intermediate goals in trading

goal

Of course, you have read many times that the necessary condition to success in trading is setting goals. But is it all so simple? At first glance – yes, everything is planned. And then it goes according to plan or not. But the main question now is – what are your goals. Our goals can motivate us. Lead us to success. But they can also lead to deep depression if our goals are unattainable. After all, the problem may be in how we act, but what goals we have set ourselves.

Setting goals

Our goals have to lead us to success in life in general and also in trading. Our goals should motivate us and delight that we are on the right way. But unfortunately it does not happen always.

What goals really lead us to success? Large? Small? Long-term or short-term? But if the result will not be seen for at least 5 years? Will we have enough motivation to continue?

Three types of goals

It is not so easy to set a goal that will really move you forward. It is really not so easy as for axample to say: “Every month I make $ 50 000.”  Our psyche here again plays an important role. And more important thing how we use our psyche.

For example, how will you feel yourself if you set a goal to make $ 50 000 every month, but at heart, you doubt that you are actually able to do it. And what happen, if you will not be able to go on that income in a few months? What will be with your motivation and self-esteem?

Goals aimed at the result

We set ourselves goals like as to earn such a sum per certain time. Simply because we believe it is necessary. We want to be successful, productive and feel confident. We believe that these goals lead us to something much larger. For example in 5 years have a million dollars in the account. This may really seem motivating, but a lot of circumstances that would have to lead us to achieve this goal are not under our control.

Examples of such purposes may be like these:
-Every Day, I make $ 500.
-Every Day I make 20 successful trades.

But what if our trading system is based on the presence of a strong trend, and the market is for several days in the flat. What if the market does not just give opportunities to earn $ 500 every day? How would you feel if the plan is not executed? Whether it will add motivation? And if a few days in a row there will not be possibility to act on your plan? Increasing disappointment by the fact that every day you do not only approach the goal, but instead move away from it.

Goals aimed at the result can lead to excessive transactions. In an effort to reach a certain profit every day, trader often begins to break rules and enters the market with a completely inappropriate motivation.

Intermediate goals

Fortunately, there is something that can bring us much more satisfaction from trading – the intermediate goals. These goals are completely under our control, because their achievement depends only on us. These goals can be our guiding map that will ultimately lead us to the desired million. Zdest But there is one important nuance – the goals aimed at the result can demotivate, and if we feel that we cannot reach them. This can easily happen, because the factors that determine the achievement of goals are beyond our control and we can not influence on them. In addition, if we are aiming beforehand to a certain result, than we live and work with the feeling that we have not achieved our goal, that we are still far from it. Million on the account is yet and it can cause a feeling of uncertainty, guilt, self-doubt, depression and frustration.

Intermediate goals are different from the final goals that are not directed at the result, but to perform certain actions.

Examples of such goals are:

– This week, I’ll find on the internet a recording of the webinar dedicated to forex. I will listen it and write down check points to my diary.

– Every time before work, I look through the economic calendar for this day. I will not open positions half an hour before the event with a high severity level and for half an hour after it.

All the month I will trade only if there are all the conditions of my trading system.

– This week I will strictly adhere to my trading system. Especially for closing positions. The deal will be closed only when a there is condition “A”, despite of the misgivings, mood and so on.

– During this year, I find a professional trader and reach agreement with him about regular consultations.

These goals are not complicated and are easily accessible. And most importantly – these goals lead to success. They bring you closer to your final goals.

So why should we not put final goals aimed at a specific result?
Targeting only on result hides a serious threat. This creates a subconscious pressure, nervousness, anxiety and frustration.
Such goals are really dangerous.

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