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What are your goals in trading?
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What are your goals in trading?

  #31 (permalink)
One day...
SF, CA/USA
 
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$10mil short term + knowledge for long term + time

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Focused goals:
actions in the market are pre-considered
trades only occur when the market has conformed to expectations
donít rigidly stick to initial expectations against all evidence to the contrary
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  #32 (permalink)
Market Wizard
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SoftSoap View Post
I appreciate the compliment!

I believe in giving credit where credit is due.

One of the best journals to date on this site, simple fact.

I admire your discipline, goal planning, followup and focus on psychology, particularly.

It's worthy of emulation.

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  #33 (permalink)
Elite Member
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suko View Post
I believe in giving credit where credit is due.

One of the best journals to date on this site, simple fact.

I admire your discipline, goal planning, followup and focus on psychology, particularly.

It's worthy of emulation.

Great to hear feedback! As a trader you don't really know whether what you are doing is good or not, so it's always nice to hear something.

But hey, if you want to walk the path that very few have walked (trading success), you need to do what very few are willing to do.

Yesterday's excellence is today's standard and tomorrow's mediocrity
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  #34 (permalink)
Elite Member
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SoftSoap View Post
Great to hear feedback! As a trader you don't really know whether what you are doing is good or not, so it's always nice to hear something.

But hey, if you want to walk the path that very few have walked (trading success), you need to do what very few are willing to do.

One of the best Journals yet.

I used a similar method to improve my trading. I didnít look at profit or loss, I concentrated on whether I had followed my plan to the letter or not. My thinking was that it was the only way I could determine if my problem was the system or the trader.

I stared out rationalizing all the reasons that I might not follow the plan but eventually got to the point where there were 2 choices; yes or no. Either I had followed the plan or I didnít.

If I didnít follow the plan it was a lack of discipline. It was that simple, regardless of the outcome of the trade, whether I made money of not, it showed I didnít have the discipline to follow my own plan. I could come up with great excuses for why I acted like I did, mostly Fear and Greed, but the simple fact was I didnít follow the plan.

In my case the problem was the trader. When I followed my strategy to the letter I made money. Having the discipline to follow the plan was the only way I could have determined that.

Good luck in your journey, you are on the right track.

DD

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #35 (permalink)
Trading Apprentice
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To improve my memory and focus

A friend told me that trading is "mind-expanding stuff" and that my memory and concentration would improve over a year or two. Nine months in and I do feel more clear headed, the income helps a lot also.

So my goal is to not develop early-onset dementia?

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  #36 (permalink)
Market Wizard
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If you do it right, trading will change your entire frikken life.

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  #37 (permalink)
Trading Apprentice
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I am newbie in trading and my first goal is to learn trading and do not start trading right away but when i will learn it perfectly and i think now I am able to make some profit then i will start trading and want to make huge money.

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  #38 (permalink)
Market Wizard
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Afters View Post
I am newbie in trading and my first goal is to learn trading and do not start trading right away but when i will learn it perfectly and i think now I am able to make some profit then i will start trading and want to make huge money.

Define 'perfectly'

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  #39 (permalink)
Elite Member
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My goal is to be able to earn a living trading. I figure that I should be able to earn roughly $1,000 a week or so if I can learn the depth and sales properly. Whether that is realistic or not depends on whether I am able to learn and successfully apply what I learn thru practice. I can't say I'm a beginner, but more of a re-beginner. The methods I have learned in the past might work for someone else, but experience and mathematics tell me they are a potential disaster. I can't ignore what I already know, but I am learning to look at the markets from an entirely different perspective. If I think I have accomplished that, then I will have more well-defined goals.


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  #40 (permalink)
Elite Member
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One of the things I do as I journal my trades is mark every trade as an execution mistake or not. A trade that is part of my plan and would make sense when reviewed long after I have taken it is not an execution mistake (the result of the trade, success or failure doesn't matter).

- My short term goal is keep execution mistakes under 20% for the next 100 trades.
- And, if I keep that rate for the first half of the year, I can increase my position size.

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