Setting Realistic Trading Goals

Many news and even seasoned traders set some extremely high goals when it comes to there trading career. At times it is good to reach for the stars but you also have to be honest with your self. The reason this is so important is due to how you view your progress. Trading is a one man/women business and you need to be able to celebrate your wins no matter how large or how small. If you are a Gorilla Futures member and participate in the chat I am sure you have seen me say" green is good". Many times throughout the week I see traders who aren't happy with only making $70.00 or so. Yes we all want to make tons of money everyday but you also need to celebrate when you make a little bit. Celebrating and settling are two extremely different things, you do not have to settle for $70.00 a day but its better to be up $70.00 then down $70.00.

Setting Goals

When setting goals you need to have a detailed plan of the goal and how you are going to get from where you are today to where you want to be in a year from now. Simply saying I want to be a great trader or I want to make $20,000 this year is a great goal to have, but how are you going to get there? If you said you want to go from never trading before to making millions this year then all your doing is mentally digging your self a hole that will be next to impossible to get out off. This is why you need to pick realistic goals and then plan on how to get there and once you get there then you can set bigger and bigger goals.

By breaking you goals down into small steps you will be able to celebrate smalls wins throughout the journey. By doing this you will then begin to gain confidence and feel like you are growing as a trader.

Lets break down my one and only goal every single year, that goal is to be consistent. I do not put a dollar value on my goals as money is a by product of being consistent. First step of being consistent is defining what consistent means. Now there is no right or wrong answer to this. To put it briefly, consistency in my eyes is having the proper risk management, following the rules I have set for myself, this includes when to trade, what to trade and the proper trading size.

Now that I know what consistency means to me its time to figure out how I am going to be consistent all year long. First off it starts off by only trading what my trading plan tells me. I focus on a handful of symbols with the main symbol being the MES/ES. Next up is when to trade, I get to my trading desk at the same time everyday and trade for a maximum of 4 hours. Why 4 hours, because anytime after that I will not be in the "zone". From there it is on to taking the right trades, if you have gone through the course you will know there are three setups we look for when taking trades. Lastly it is on to journaling all my trades, there is no reason not to journal your trades. Those of you who are Gorilla Futures members have access to a free trading journal. By journaling you will be able to document what areas need to improve and develop a plan to do so.

As You can see all these goals are very realistic, not only that but there is an actually game plan on reaching those goals.

Comment down below what your goals are and how you plan on getting there!

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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results. Gorilla Futures and those associated with Gorilla Futures are not liable for any decision you make while trading. TESTIMONIAL DISCLOSURE: TESTIMONIALS APPEARING ON MAY NOT BE REPRESENTATIVE OF THE EXPERIENCE OF OTHER CLIENTS OR CUSTOMERS AND IS NOT A GUARANTEE OF FUTURE PERFORMANCE OR SUCCESS.

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