GOALS & GOAL CONCEPTS
FOR THE SUPER DAY TRADER.
Day Trading Goals -10 Good Reasons. Downloadable FREE PDF Version.
Pt 1: – Why Do Super Trader’s Use Goals? – Top 10 Reasons.
This; is the 1st part of my ‘3 part mini series’ dealing with the subject of goals, goal concepts & the art of goal setting for the Super Day Trader.
I like bullet point lists; they seem to be far superior for memory recall than huge paragraphs of text of ‘Shakespearian’ proportions.
So…… Here’s Pt1 as to why a goal approach & integrated methodology is so important within the realm of Day Trading.
Trader’s 10R Goal Cycle
Original Goal: (Eventually), We Can Release it.
Past Goal: Is To Reflect; Re-Evaluate; Re-Live It.
Present Goal: We Re-focus; Re-Frame; Re-Align It.
Future Goal: We Will Re-New; Re-Size; Re-Define It.
- VISION: They say success is a 2 part process, with part 1 being, ‘You Must Know Exactly What You Want.’ Goals give you the trading vehicle to envision EXACTLY what you want! As the great Stephen Covey So eloquently puts it, One Must; “Begin With The End In Mind.”
- INTENTION: We live in reality, yet it is a filtered ‘PERCEIVED REALITY.’ Goals for the Super Trader are used as a lens, shifting one’s ‘Frame Of Reference’ (His Thinking & Awareness) to envision new opportunities, guiding ones’ decisions within a structured ‘INTENTIONAL’ framework via conscious choice.
NOTE: The Important word, Choice. There is age old question;
“Are Traders Born Or Made?”
ANSWER: Neither! We are all products of choice!
- DESIRE: Goals instigate a strategy to achieve a desired result. ‘Goals Come With Desire.’ With desire come goals. The greater your ‘Goal’s Desire,’ the easier it will be to change your old conditioning. Alter your old conditioning & you change your old habits. CHANGE YOUR HABITS, CHANGE YOUR RESULTS! Desire is VERY Important.
- PURPOSE: Goals give you a sense of purpose; thereby directing one’s attention to ‘grow one’s awareness; conscious awareness. This relates among other things to the ‘Conscious Competence Learning Model.’
- FOCUS: Goals are closely linked to ‘FOCUS.’ What is the most important part in a Super Trader’s Structure, his structure of excellence? ‘THE PROCESS!’ Goals help you to direction your focus (WITH CLARITY) on BEING! Being What?
BEING THE PROCESS OF TRADING!
- PERCEPTION: By merely having ‘Goals,’ you instigate a ‘Comparative’ mode, so you can easily evaluate & make rational ‘Value’ judgements regarding your ‘PROCESS & OUTCOME Goals.’
The principle of perception is based on differences. So, what do we need to be able to compare. Start with a goal! All Super Traders quantify & qualify their performance. So all ST’s use goals!“What’s measured improves!” Peter Drucker
- FEEDBACK: Trading involves learning. Learning & improving partly involves repetition which needs considerable feedback. A ‘Super Trader’s Goal System’ always incorporates a ‘Feedback Loop.’
YOU NEED FEEDBACK IN ORDER TO IMPROVE; SO… YOU NEED GOALS!
- ACCOUNTABILITY: Having goals & a goal process makes you purposeful, thoughtful rational & systematic. This transcends into the realm of ‘Personal Accountability’ having what is known as an ‘Internal Locus Of Control.’
- HABITS FORMING: Goals are part of a ST’s consciously chosen system that helps ‘Reshape’ old negative self-limiting beliefs & habits that could be buried deep within his subconscious. Thus goals aid in the creation & formation of new habits.
QUESTION: What Are Habits?
WHEN THE BODY BECOMES THE MIND!
- CHANGE: Goals help you change. It is said (via quantum law) that the environment is an extension of the mind. So importantly; if the World is shaped by our thoughts (potentiality), then ‘INTENTIONALLY’ shaping our destiny via goals & goal setting we will ultimately reshape our conditions & our environment, thus changing the events, circumstances & outcomes.
NEVER UNDERESTIMATE THE TRUE POWER OF GOALS MY FRIENDS!
“I wish you well in your journey & in your trading.” – Trader DowBoy
4 thoughts on “A Day Trader’s Goals – 10 Good Reasons”
Great work, it is very thorough
I really appreciate your post and you explain each and every point very well.Thanks for sharing this information.And I’ll love to read your next post too.
looking foward to part 2 and 3
part 2 and 3? 🙂