Success in trading is not only about the right technique.

It is also about the right mindset, and about PLANNING.

Many traders share with me how they want to make money in trading, or even leave their 9-to-5 job and make a full-time income. But when I ask them what their plan is to achieve that… they just stare at me blankly. Because…

…they have NO PLAN. They have a lot of dreams, but ZERO clarity on how and when to get there. But here is the truth about ANY success:

NO CLARITY = NO PLAN.

And

NO PLAN = NO RESULTS.

When it comes to trading, I LOVE planning and I pretty much try to plan everything: Since the very early stages of my trading career, I have been planning things like where I want to be in 90, 180 and 360 days.

And I also plan the EXACT vision of my ideal trading life. Sometimes I even create a vision board with things I would like to achieve next. For example, 15 years ago I put there a picture of a beach house and a “fake ” trading account statement with 500,000 USD on it. And of course, I made all that reality a few years later.

The truth is, that success NEVER happens without a vision and without a plan. And if you want to create a SUCCESSFUL year in 2021, then you really should start thinking about your vision, goals, targets – and start putting it on paper.

Of course, this will require a bit of work, but it will also create A LOT of clarity for you.

So, how do you create your trading plan for 2021?

Here are the 3 key questions you should ask and then write your answers down. Once you have it done, your plan will be much clearer and you will get much more clarity on the next steps too.

       1. WHAT do you want in 2021?

You need to have a very specific OVERALL goal for 2021 if you want to achieve it.

Different people have different needs from their trading. So, your personal goals could be different to other traders, and there is no point comparing yourself to others.

So, what EXACTLY do you want from your trading in 2021? Here are some ideas:

  • Leave your job and have a full-time income just from your trading?
  • Build a trading business for a second income?
  • Make money in (or for) retirement?
  • Travel the world on trading? (which was my primary goal and something I actually did)
  • Make money for a new house, car, etc?
  • Start a Hedge Fund or manage money for others?
  • Anything else? What EXACTLY?

Make it very clear what your goal is!

      2. WHEN and in which stages do I want it realistically completed?

Whatever it is that you want from your trading in 2021, you need to set a REALISTIC time horizon for yourself too.

For example, many people talk about leaving the job they hate to pursue a different career, like trading. But when you ask them WHEN they plan to do that, they have NO idea.

Let me make this clear: No date in mind = NEVER.

It’s as simple as that.

Whether you want to make trading your main, secondary, or retirement income, you have to set a DATE for yourself. A realistic date. It will definitely not happen overnight. But you HAVE to have an end date in your mind.

And then you need to break the time-window down into a few stages.

So, because we’re talking about 2021, the key question would be:

Where exactly do you want to be with your trading at the end of 2021?

And then, in regards to the overall goal…

…where do you imagine you need to be every 3 months to keep on track with this key goal?

Go ahead and write it down! And then, ask the final question:

      3. HOW can I make this happen?

Now, when you know exactly WHAT you want and WHEN you want it to happen, you can finally start thinking about HOW you could make it happen.

And I guarantee you, with a bit of effort, intention and patience, ideas will start flowing soon.

In fact, life will even start placing ideas and opportunities right in front of you!

I know at this stage you might feel overwhelmed with all the things that need to fit into place but have some FAITH.

Craving more trading ideas? Try our FREE newsletter for meaningful content that can truly change your trading journey! Direct to your inbox. Click here to join 1000’s of other traders.

For example, once I did a trading seminar in Prague and there was a guy who already had his plan and knew exactly when he wanted to quit his job. He also knew quite a lot about trading already and was trading a very small account successfully. But he lacked the capital to grow. He lacked the capital to make the SERIOUS money that would allow him to quit his current job.

Now, here is the fascinating thing that happened after he shared his story at that particular seminar: As soon as he finished, which we did with the words “I know this will somehow solve itself too”, 4 different guys approached him during the break and offered to pool their capital with him.

So, after the seminar, these 5 guys pooled their own capital and suddenly they could afford a serious portfolio and some serious trading positions. They also leveraged their time, split the work equally, and thanks to collaboration made over +100% return during the first year of working together.

But wait, that’s not all…

Their performance got the attention of many other friends and people around. So, they decided to add them to the pool too, for a small entry and performance fee. And in just ONE year, they went from very little to trading a 5 million USD account!

So you see, in trading, you just never know.

But nothing really happens without a plan.

So, build your plan.

Put effort into it, break it down into 3-month periods, think about where you want to progress every 3 months in 2021, and then write down HOW you’re going to achieve these quarterly goals.

Then start executing it.

And don’t keep it to yourself – start talking about what you are doing EVERYWHERE you go and see what happens.

In life and in trading, you just never know…

Good luck and happy trading!

Tomas

 

How To Start Creating Profitable Breakout Strategies In 2 Weeks Without Spending More Than 35 Minutes A Day

✓ The simple but incredibly powerful process to building profitable breakout strategies really fast,

✓ The 5 key components you need to create a good quality breakout strategy,

✓ How the power of automation can slash the time and effort you need to create loads of breakout strategies quickly and easily,

✓ How to tell if a breakout strategy is worth trading or is just over-fit rubbish,

✓ Start generating profitable breakout strategies in under 14 days without spending more than 35 Minutes A Day.

WATCH THE FREE ONLINE WORKSHOP NOW: 14-DAY BREAKOUT STRATEGY CHALLENGE

DISCLAIMER: Trading involves significant risk of loss and is not suitable for everyone. People can and do lose money. Hypothetical results have many inherent limitations. Past performance is not necessarily indicative of future results.

© 2016-2020 BetterTraderAcademy.com |

Privacy Policy

|

Contact Us
Top