Goals (example)

This is the big picture. Think in terms of the skills and knowledge that you want to acquire between now and this time next year. What are the financial objectives?

Ex. My annual trading goal is to . . . (develop my trading ‘edge’ in order to tip the balance of probabilities in my favor. At the moment, this comprises three separate elements, namely: 1. I receive coaching from _____ ________, who is one of the best practitioners of the strategies that I employ. 2. I model the best trading practices, including having a written, clearly laid out trading plan. 3. My strategies are well developed, tested and monitored comprehensively to ensure that they remain tradable, market sensitive and profitable). I expect to achieve these goals because . . . (in addition to the coaching, I read xyz magazine and study the words of wisdom from the more experienced members When I achieve my goal, my reward will be . . . (a two week family holiday in sun drenched Andalucia, staying in a ‘Cortijo’ with an infinity swimming pool which magically spills over into the Straights of Gibraltar, set against the stunning backdrop of the Atlas mountains of Morocco).

A. Achievement/Vision
1. Why do I want to trade? To work for myself at home or anywhere. Without needing to reenter the working world.
2. What is my purpose for trading? To achieve a level of financial success. This is possible by developing a trading edge thru my trading model, a well thought out low risk strategy accomplished with training and discipline. My trading edge should generate for me in my 1st year a return of 12% in my retirement accounts. (*At this moment I am not sure I will be trading in my personal account)
3. How will I decide when I should not trade anymore? While this may not be perceived as a goal, it is the “elephant in the room” in regards to trading. Losing 16% of my account value will be enough reason to stop.
B. Trader training and prerequisites to going Live – before taking my 1st “Live” trade what do I want to accomplish? Before going “Live” I will follow for 3 weeks a daily routine defined in the trading plan which should in the final week mimic my daily routine when live trading.

C. Financial Objectives (mthly, yearly) – what are the P&L goals broken down

D. Trader Evaluation – how will I measure my success in consistently trading my strategies?


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