How to Set Goals That are not out of Your Reach as a Forex Trader

We’ve all been told that we should set goals, and we assume that we can set realistic goals- but most of us have never been taught how to go about setting goals effectively so that they are realistic and achievable. I think a large part of why 25% of New Year resolutions are broken in the first week is due to the fact that they aren’t realistic goals, without something to shoot towards; it’s quite easy to get discouraged and give up quickly.

Don’t Aim Too High

To begin with, one must refrain from setting goals too high, out of the realm of goals which are realistically achievable in a specific amount of time, you cannot expect to trade successfully without learning the tricks of the trade first, recognize the value of proper preparation. This can be done by aligning your personal goals and disposition with the instruments and markets you can comfortably relate to. Break down long term goals into shorter, more achievable goals, you will end up more focused as well as better motivated than before.

Don’t Make Trading Your Profession Earlier on

Don’t aim to make a living right away, if you’re fresh out of school or still studying don’t only rely on trading to get you by, you will need a proper job to begin, so in the unfortunate event that you do go into loss, you can still manage to feed yourself and clothe yourself. The key is to understand that there is no such thing as only profitable trades and that no system will trigger a 100% sure thing and that losses are to be taken quickly and often, if necessary.

Don’t be in the Market 24/7

Another realistically important goal to possess is to stay out of the market as much as possible and to only trade those trade setups that look promising and that might yield high probability results. The best way of doing this is to think of forex trading as a marathon rather than a jog where you have to trade sensibly and with caution and you will find it is possible to seriously grow your capital from trading the forex markets, just not If you’re a trading addict who needs to get his fix every day.

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