Setting Trading Goals

Every day as you sit at your computer, whether it is for a few minutes before or after work, or you are able to trade all day, you may have wondered why you are trading. Have you ever determined what your goals are for trading? Not just the “I want to make money” reason, but also the deep reasons you are trading. Are you doing it because you love it? Are you hoping to get out of a job you dislike and work your own hours at home? Do you want more time with your family?

All of these are valid reasons that can motivate you to become the best trader you can become. However, it is important to have set some goals for trading. Goals motivate you to continue to move forward.

Several days ago, traders were posting their thoughts about what motivated them to strive to improve their trading. A couple of them commented that they want to spend more time with their families and send their children to schools that provide quality education. Someone else stated that trading successfully had allowed him and his wife to quit their jobs. No more putting up with the ignorant boss or office hours!

Another trader realized that in going after the money needed to pay the bills made him take time away from his wife and kids. He said that he just wanted his time back. Families deserve attention and being able to trade can allow you to do that. You can set your own hours. By using risk management and taking the time to be educated in trading, you can become a successful trader.

Maybe you have been excited to receive a small bonus at work. One trader wrote about his wife getting a bonus but after they worked the numbers, they realized that taxes take a huge chunk of the money, and the amount you actually keep is hardly worth getting excited about! He said he knew there had to be a better way. A different trader commented that even setting the goal to be profitable $20-50 per week, could be a pay increase for some. If you do that consistently, with one contract per trade risking five percent, soon you can do the same thing with five, ten, fifty or more contracts in one trade. Set the goals and see the possibilities!

Some traders may want to set goals to become successful so they can use their talents to give back to their communities. Others want to secure their financial futures and have enough for retirement. Maybe you want to be able to teach your children and grandchildren how to trade so they can also become financially independent.

The reasons for you to be a successful trader are endless. Take a few minutes and write down what motivates you to trade. Revisit your goals for trading. What made you first want to learn to trade? What made you fall in love with trading? Then figure out how you can be an even better trader. Learn a new strategy. Teach someone what you know. Write about it in a trading journal.

For free trading education, visit www.apexinvesting.com, a service of Darrell Martin.