Have A Target, PLAN and Execute

Most people taken for granted that even novice trader horking it down trading as if the wealth an easy thing to get. IN fact it will become  easy If you had plan it and have a target  or a goal to achieve. Most traders that fail to achieve is because they trade as much as they want and feel but not objectively follow a laid out plan and target they suppose to achieve realistically.

Even on some average traders, they tend to go blind by the winning streak and forgotten that the routine analysis and planning still applies. Even before that you must have a goal or target that you must achieve for a particular day or months or years!

Before I started trading, I was a navigator on board the Brunei LNG ships. Obviously I am trusted to carry LNG cargoes that travel over  a vast ocean and seas . Even before the next voyage, I had planned them wisely and every details must be covered , safety and risk taken on choosing the route.  After getting all the information ( analysis ) , I then Plan them on a piece of chart with the contingencies in place. The part Executing it was also to monitor the performance and progress of the ship track and movement. This are logged to make a comprehensive record so it can be look back for any improvement.

Looking that brief experience, I was ready to plan anything, which I apply the way I plan to my Trading routine. I plan my goals for a yearly or monthly growth, then I plan every daily trade after collecting necessary details of the market and execute them as I planned to do so. Once my objective were achieve for a particular day, thats it, I just took off and take the day off.  Now most people are tempted to be greedy and trade further thinking that their luck still with them, but the market knows no bound who you are or what you do for a living.

They will take back what you took from them if you insist and not appreciating what you just achieve. SO be greatful of what you get. Be greatful that you follow your plan target. Overtrading can cause FEAR in losing and FEAR of not getting your target which result in un healthy mindset performance , which leaves you out of the zone trading , meaning, not focus anymore of the now situation.

SO it is important, to have a goal and plan that goal on how to achieve them. Self performance review is important for you to see how you perform involuntarily.

 

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