preview

Setting Trading Goals For Yourself Essay

Satisfactory Essays
Open Document

Setting Trading Goals for Yourself By Noble Drakoln | Submitted On June 23, 2013 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Noble Drakoln The first step in battling the demons of fear and greed is setting your trading goals. By developing a road map of where you want to go, you can begin to temper your reactionary behavior and make it proactive. Goal setting is the most effective but least used technique in improving a trader 's chance at success. When a trader is new to trading, he typically states that his goal is to make money. The amount is unknown, the how is unknown, and the real reasons why are unknown. So is it any wonder that he loses money or the emotions of fear and greed take root and limit his opportunity for success? The trading plan should be designed to help ground the desire for success with the reality of what it takes. At the end of the day, it may be discovered that you simply don 't have what it takes to make your dreams come true by yourself, whether it 's a lack of discipline or an inability to understand the markets. That 's where your goals come in handy in helping you find someone who can. So to begin, you need to ask yourself three questions and

Get Access
Related
Get Access