New Year Resolutions : Tips For Successful Trading In 2019

by tradingrebel7B on January 11, 2012

I have never had much belief in New Year resolutions, mainly because not much ever comes of them for most folks. That said, a new year can be an extremely useful tool in setting yourself a new direction, especially in your Trading. The key though, as with Trading itself, is to ensure that you have a definite system for getting there.

In fact, you don’t require a new year to do this. You could do this at any old time of the year, which should give you some solace should you in fact get thrown off from your new year resolution. The truth is that you do not have to waste time until next year in order to start over. You can begin again immediately and get right on track once more from where you left off. In addition, you can start a new goal in life or Trading on ANY day of the year. There is no need to wait until January 1st.

Naturally, all of what I have just stated is pretty obvious, and yet it is incredible how many people pass over the blatantly obvious and thus miss out on all the success they could be having on their life goals and dreams. You don’t have to be that way. Hence, if you are starting out this year with some new goals and resolutions, then that is great. However, remember that you can get right back up and start again should you ever come off the tracks at any time.

So what is it that makes the difference? What is it that causes some people to fail and others to succeed in life (or Trading), in goals and in new year resolutions?…

The answer is… (1) a clearly defined system for achieving those goals and keeping on track, coupled with (2) solid reasons for WHY you want this, backed up with (3) strong will and emotional commitment to succeed.

Without these components, it is all too easy to get distracted by the daily emergencies of life and thereby forget what we committed to. In Trading, without (3), a series of losses can easily rock your confidence, especially if you lack (2), the solid reasons for why you MUST succeed as a trader.

What do we mean by a clearly defined system? Frankly, it means different things to different people, according to their individual personalities. That said, you should definitely know your specific outcome (goal) in the first place, as well as some specific time target for achieving it. Is it to become a fantastic options trader this year? Is it to make X thousand dollars day trading? Is it just to get profitable this year for the very first time?

If you don’t know what you want, how can you ever get it? If you don’t know when you want it by, then it becomes a mere dream or fantasy than a goal that drives you daily.

You also need to be able to work this overall goal back to monthly, then weekly and then even daily deadlines. Specifics are what really count in making progress, and it is lack of these specifics that cause so many people to fail. If I asked you to go to the shop and buy a loaf of bread, or to decide on a holiday destination and then make a plan to go there, you would be able to list the exact steps as to how to do these things. However, if I asked you for a list of specific steps for achieving your stated goals in Trading, most traders would stare at me blankly.

Apart from having a specific goal, a specific deadline, and specific daily and weekly and monthly steps for getting there, you also need a system of accountability and regular review. This means having a way of checking in on yourself daily to see if you are on or off-track. That way, you are able to make adjustments and get back to where you should be. There is no point waiting six months or a year before checking in. The more often, the better.

With regards to (2) strong solid reasons why you want this, this is all about giving you the motivation for working steadily towards your goal, especially when times are tough, which they often may be. Hence, when you get discouraged, you can pull out your sheet of ten or twenty reasons why you want this, and fire yourself up again.

So that is one thing you can do. Create a list of 10–20 reasons why you absolutely must get this done, and then review that list regularly.

Finally, for (3) strong will and emotional commitment to succeed, this is where you need to spend time really creating a picture for what things will look like if you do succeed. Imagine and visualize it in great depth and get excited about it. See yourself succeeding as a trader and all of the financial and self-confidence benefits that this brings. Also, you should consider developing a visualization for what would happen if you fail. Some people are better motivated by fear of loss than possibility of gain. Actually, it is a good thing to have both methods working for you simultaneously. One pulls you forward, and one drives you from behind!

In conclusion then, USE this new year as an opportunity to kick-start yourself to achieve something new and spectacular. Use the three key factors discussed above. And remember, this works ANY time of the year, not just in January. Make it happen!

Copyright 2019. AKS Trading LLC. All Rights Reserved.

{ 0 comments }

Online Trading, Like A Dark Bullet In the Night

by tradingrebel7B on February 1, 2010

The other night, I had finished up my shopping at the local supermarket and was heading homeward in my car. The main lights in the car park were off, which definitely distracted me somewhat as I had to fumble around to get into the car, and then really strain to see the keyhole to turn the ignition.

So, now I was on the main road just outside the supermarket, heading back, when suddenly a silver car pulled out from a side road and almost slammed into me side on. He braked suddenly and pulled back into the side street. He also had the wretched nerve to honk his horn at me!

So I’m thinking stuff like, “You idiot! Why don’t you look the heck where you’re going? And then YOU honk at ME?!”

But I’m also thinking, how could this happen? It’s as if he didn’t even see me. Is he totally blind or am I invisible?

Then I noticed something very interesting. My gaze flicked to my dashboard. My headlights were completely off! Yes, I could see the road ahead just fine because there were streetlights. But I guess that nobody could see me coming so very well!

It was night and I was driving like a bullet in the dark, unseen.

Hmmm. So who’s the idiot now, I wonder?!…

I have to admit I felt more than a trifle guilty about it. There could have been a really bad accident if I had carried on much longer. Luckily, I had only just left the supermarket, and even more luckily, my attention had been immediately alerted to the problem by this incident.

So, what’s this story got to do with online trading, you might ask? Well, nothing and everything!

The fact is, it’s a very good life lesson. Many traders trade like this – absolutely certain that what they are doing is right, and MUST be right because it’s them doing it. And that’s totally irrespective of what the markets are plainly telling them!

We get negative feedback from the market, e.g. it moves against our position. So what happens? Instead of having a stop that gets hit and takes us out for minimal loss, we have no stop at all. Or worse still, we actually ADD to the position. That’s kind of like saying to the market, “You IDIOT!”

It’s just like when the guy nearly hit me and had “the cheek” to honk at ME. We carry on all the same, just swearing that we are RIGHT! Then one day, we crash and burn and scratch our heads and wonder why?

Is it any wonder that 95% of online traders crash and burn when it’s like they’re driving without their headlights on! They’re just asking to crash.

It’s a great analogy that I want you to think about for your life and especially for your Trading. What is your blind spot? What is it that you are just refusing to see in your method?

We can drive along in our lives, not examining what we are doing, not being as AWARE as we should be. Then one day, reality collides with our fantasy and we are left to pick up the pieces, and wonder what the heck happened. This happens ALL the time in Trading.

Rather than think “Idiot” about the other guy, I was left asking, “SO who’s the idiot now?” And that’s what we need to ask ourselves (in a constructive fashion of course, i.e. “What can I learn from this?”) when we get our noses bloodied in the markets.

In fact, the guy who nearly hit me was symbolic of all those people who warn us we are in danger when we take a wrong path, but who we filter out and ignore because we don’t want to hear what they have to say. Luckily for me, he appeared on the scene and awakened me to something I would not have seen otherwise until perhaps it was too late.

Maybe the lesson is, switch on your headlights BEFORE you have the crash! In Trading this means, examine what you are doing in full awareness and make sure that it is what you really want to be doing. Do you have a method and is it PROVEN to work?

Realize that what you do has financial consequences for your trading account. Every lapse, even momentary as mine was, can have enormous results.

So, make sure that when it comes to your Trading, you too are not a dark bullet in the night, heading for a certain crash and burn. Switch the lights on, and shine the bright light of Awareness onto your Trading and your life in general.

___________________________________________________

Get the FREE Report, The 7 Deadly Mistakes Of Online Trading. Which of these critical errors do YOU make… and you don’t even know it?…

{ 0 comments }

Gratifying Thanks From Youtube!

January 22, 2010

I just received a really nice comment today on one of my Dow Jones Stock Market Index YouTube videos. Here is what he said: “Asoka Selvarajah You are a Legend. You saved me tens of thousands in 2008. Thank you so much. I saw your analysis in Jan 2008 and went to cash ” BandwagonJumper007 […]

Read the full article →

Online Trading Need Constant Discipline!

January 14, 2010

I took off a losing Dow Jones stock index trade yesterday. That’s not a big deal. After all, you win some, you lose some. Maybe I should say, I FINALLY took off a losing trade. It’s one of those things. You learn something. You know it. You even teach it to others. And sometimes, you […]

Read the full article →

Happy Trading In 2010

January 2, 2010

I just wanted to pop in to wish you a very Happy New Year. May your Trading success really skyrocket in 2010. I really wish this for you, no matter how well or badly it has gone last year. You know, the start of the year is a great time to review the past year […]

Read the full article →

You can read our full Privacy Policy here and our Terms Of Use here

AKS Trading LLC, 1712 Pioneer Ave., Suite 327,
Cheyenne, WY 82001, USA.  Tel: 815-550-1877