Have you set your Forex goals this 2021? Is everything going smoothly or are you having trouble achieving them? There is no certainty as to what will happen in the future. What you can have are some useful tricks that will help you put out your plans into action.
Looking back on your past achievements
Check your goals in the previous year, were you able to achieve them? Reviewing your achievement and goals is best done through the help of your journal. If you haven’t considered starting a journal, it is best to start it this year. As journaling is known to be a powerful tool used for self-analysis, you can jot in your successful trades, strategies, deals, and all the information you’ve learned throughout your trade.
To be able to make the most useful journal, try to answer these questions and grab your journals now;
- What are my significant achievements?
- How did I manage to achieve those great things?
- What are the things that I didn’t manage to do?
- What are the economic events that happened when I traded? What is the influence it caused on my trades?
- What strategy did I use to end up with such great achievements? What are the strategies that didn’t work that well?
- What are the things that I want to change when trading?
Answering these questions will give you a solid idea of everything that has happened throughout your trading career. It will also bring forth general sentiments on the events that had happened.
Setting New Trading Goals
Figuring out the strong and weak points of how you deal with your trades, it is about time to fix them. Write the key point – the highest or the things that you want to surpass and the lowest or the things that you want to improve.
Based on these points, you can write effective trading goals. Check out these tips to make it a lot easier for you.
- Think about the bigger picture. As much as possible, you should go on into the details. Think about how you want the entirety of the picture to show and how you should attain bigger goals.
- The way you express yourself through words is also very important. You can choose to use the word “I will”. For instance, you can say, “I will study more about trading indicators” or “I will focus more on my strategy.”
- Be Specific, Measurable, Attainable, Relevant, and Time-bound (SMART) when setting and achieving your goals.
- Set priorities. This is the best way to avoid getting too overwhelmed by the time you proceed to attain your goals.
- Check if your goals are close to reality. Make sure that you are making realistic goals based on the type of trader that you are. Take into account all important conditions including the environment you are in.
Now that you have set your Forex goals, you have to focus on your strategy to achieve these goals. Remember that your strategy will be worthless if you don’t stick to it.