What are your goals for this year? maybe this is a stupid question as most people would probably just say "to make more money", but is there anything other than money that you'd like to learn or become better at? Do you want to learn how to read the tape?..learn more chart patterns... etc.. please share -- What were your goals last year?.. did you meet them, or did they fall short? (if so why?) -- I'll go first. My goals for this year is to lose less than last year. I dont expect to be profitable, but I remain positive. I would also like to become stronger mentally by trading with the trend instead of against it (which I think is one of the main reasons for my net loss last year). I would also like to explore different markets like futures or FX, and learn more about what economic forces move these markets.
LOL. Maybe you should at least make it a goal to try to make money. Why bother if that is not a goal? You enjoy losing money?
All I'm saying is that, i've only been trading for little over a year now, and for most people, I'm guessing it takes more than 1 year to be profitable. Of course I'm trying to be profitable, and I aim for it, but I'm not going to beat myself up at the end of the year if I'm not. Like I said, if I can lose LESS than last year, I'll consider that a mile stone.
To work on my exits â specifically - To ride ALL winning trades to either predefined R/S based targets or predefined R/S based stops.
you should be very specific in your goals. I have a two pages "things to do" that I tick off when as the year progresses. break it down into sections like IT infrastructure strategy improvement backoffice new markets to explore It makes your life much more disciplined.
To make 5% every month. To eliminate as many failure modes to my trading platform and strategy as possible. To not fuss over every little trade every second of the day. Relax.
Do most traders get better every year, worse every year, or on average stay the same? I guess my goal would be to get better returns last year than I did this year (of course adjusting for market conditions.)