Updated: Mar 7, 2021
Thankfully 2020 is coming to and end, what has been a year that many will want to soon forget and many unfortunately will not be able to forget. A year that has plagued us with huge drops in the markets and life changing events that could possibly alter all our lives going forward. If you came out positive on a year like this be sure to go back and reflect on everything you have learned. Especially if you are a new(er) trader, this year has taught us to play both sides of the market ( long/short) and deal with the constant stream of news and media that has wreaked havoc on our beloved price action all year long. With all that said lets see how we can continue to grow and take what we learned from this year and improve for 2021!
The number one goal every single year and every single day should be consistency. What I mean by consistency is simply do what you need to do every single day. If you do this then over the long run you have a much better chance of becoming a successful trader. Now obviously every day is not going to be a huge green day and you will have your fair share of red day as well but if you focus on being consistent then the rest will follow.
What does it really mean to be consistent? It means waking up every single day and following your pre-market routine, getting to the charts in time so you can watch the morning analysis and giving your self enough time to form a game plan. It means taking all the trades that fit your rules and system, not only taking the trades but also managing your emotions and your post trading routine.
It is easy to say you want to be consistent in 2021 but have you defined what consistency means to you? If there is no follow through then saying your goal for being consistent in 2021 is simply a feel good word that you hope will materialize. Hope will not make your goals come true, before 2021 roles around be sure to define what is consistency means to you and how you plan on achieving it.
#2 Medium Term Goals
I for one do not like to put a dollar value on my goals, personally I think it takes away from the process of getting to said go and that is why you will see me use the word consistency so much. With that said you still need to have medium term goals, for some this could be to simply be consistent for 6 months for others it will be to make 6 figures in 6 months. Each trader will have different goals are there is nothing wrong with that. My only caution when saying set goals is to make sure you don't get to focused on achieving that goal that your forget the process on how you are going to get there.
My one and only goal every single day and every single year is to be consistent, this is my short, medium and long term goal. Everything else will follow if your consistent, before going into 2021 be sure you have a Medium term goal and more importantly have a step by step process on how you will achieve that goal. A goal without a plan is simply a dream & dreams don't pay the bills!