This much I know about Forex. Because of the unlimited profit potential the forex markets draw some of the brightest minds in the world which compete in a zero sum game. In order to succeed you have to be prepared. This is why I choose the three points of being accountable, committed, and writing down my goals.
My Strategy for approaching the markets
Accountability – By making my goals and performance public I am holding myself accountable. I am doing this simply to help me reach my dreams. I want to be one of the best forex traders in the world. Do you want the freedom trading for a living can bring?
Commitment – I have been trading since 2001. Oh yeah, I am committed. But now I am making a commitment. I am posting my short term, mid term, and long term goals. I am going to use this site to keep working toward achieve those goals. I ask the help of you and all of my readers to help me stay focused.
Writing down goals – I have heard that people who write down goals have a much higher chance of achieving them. Just as a Forex Trading Plan is essential for any trader so is writing down your goals.
These are my goals for the year:
- Short term (1 to 3 months) – to share on this site how I make money online trading forex and post monthly performance reports.
- Mid term ( 6 months) – $5,000 a month in passive income to make additional regular deposits into my trading account.
- Long term (1 year) – a return of 50% of my trading account.
- Release a Conquer V2 EA to the group for fully automatic trading.
- Come up with the audacity to try and create a system that produces over a 100% return yearly.
These are my initial goals. It took several minutes of thinking to come up with my list and I know will be instrumental in me reaching them. I am sure that I will be in for a few surprises and new things I never on planned on will come to fruition. I look forward to revisiting my goals at the end of the year to see how I did.
What are your specific goals?
Do you have a strategy? What are your short, mid, and long term goals for this year? Write them down, post them in a journal or write them here below. I am interested.