In his book, “The Mentally Tough Online Trader,” Robert Koppel (2000) argues, “Setting goals is imperative for the trader to enhance motivation and optimize performance. Goals should be realistic and measurable, within one’s control, and realized within a specific time frame.”
The trick to setting goals is to find the right balance between being unrealistically ambitious and being too modest.
Setting more realistic expectations eases some of the pressure and helps you build up sound trading skills. As you achieve each goal, you feel a sense of satisfaction. You feel empowered and ready to achieve your next goal.
It is useful to set specific goals and reward yourself as you make progress.
Work at your own speed and according to your own timeline. Don’t make it a race. The only person you need to please is you. If you set goals realistically and strive to achieve them with a resolution, you’ll master the markets, and achieve enduring financial success.
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