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 urgencies of life and thereby forget what we committed to. In Trading, without (3), a series of losses can easily rock your confidence, epecially 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 2012. AKS Trading LLC. All Rights Reserved.

Here's a very informative stock and forex trading video about mistakes that can wreck your trading and terminate your account:

Trading doesn't have to consume every waking moment of your life. But don't be tempted to jettison your common sense, either. Anything you want to be successful at is going to require time and effort.
Best Options Trading Services – 6 Warning Signs of a Bad Advisory …

There are countless subscription-based option advisory services available for the individual trader. If a service enables you to significantly increase your returns, it will likely be worth the cost. Unfortunately, there are a lot of …

Publish Date: 10/19/2010 9:07

http://business.ezinemark.com/best-options-trading-services-6-warning-signs-of-a-bad-advisory-service-16b6d065963.html

Top 10 Best Online Stock Trading Company Listings | The Biz Hunter

The Biz Hunter provides you with free, detailed information and tutorials to aid you in Forex, stock and real estate investing, work from home jobs & security.

Publish Date: 10/04/2010 23:12

http://thebizhunter.com/top-10-best-online-stock-trading-company-listings

Futures Trading Tips Malaysia (Uncle Lee)

Futures Trading Tips Malaysia www.1FuturesTradingTips.com Tips Subscription 1) By MSN or Skype – RM4.00 per day (most supporting) 2) By SMS – RM14.00 per day (most supporting) 3) By MSN or Skype and SMS – RM16.00 per day 4) By SMS and Email – RM20.00…

10 Handy Tips Trading Commodity Futures For Your Guidance …

Looking at the number of business ventures around you, you have probably decided to try your hand at trading commodity futures yourself? The.

Publish Date: 09/22/2010 9:26

http://www.facthippo.com/10-handy-tips-trading-commodity-futures-for-your-guidance/

Trading Tips for the Day – 21 September 2010 « The Malaysia …

The one stop portal to trade Malaysia futures market. Blog · Register and Subscribe · The Performance of “Trading Tips for the Day” · Want to obtain the price levels sooner? Understanding “Trading Tips for the Day” · Portal Front Door …

Publish Date: 09/22/2010 8:29

http://jaceonmarkets.wordpress.com/2010/09/22/trading-tips-for-the-day-21-september-2010/

FAPTURBO's Currency Forex Learn Online Trading System | TRADE ONLINE

forexfapturborobot.info – Foreign Currency Exchange Trading – FAP Turbo is the next generation Forex currency trading robot to.

Publish Date: 09/17/2010 15:25

http://www.camelbay.com/?p=423

Buying Currency: Forex Online Trading | Personal Finance Blog

In order to be proficient in using the Forex online trading currency system, people have to study the terminology that is used within the system and also the trends that are happening in the market each day. There are many different …

Publish Date: 09/16/2010 19:59

http://blog.financenewstoday.com/currency-trading/buying-currency-forex-online-trading/

Why Make a choice The Best Forex Trading System? To Make A number …

The best forex trading system is one that may be available on-line thru automated forex trading software. Switch of currencies is conceivable at the click of your mouse thru this software's which enable you view the present foreign …

Publish Date: 09/17/2010 19:26

http://www.forextutorialtrading.com/forex/why-make-a-choice-the-best-forex-trading-system-to-make-a-number-of-money-3/

Forex Trading- What you should know about it | Online Trading Tips

There are a lot of opportunities online nowadays where one can make a living and in some cases make a serious income which will enable them…

Publish Date: 08/25/2010 16:26

http://onlinetradingtips.org/forex-trading-what-you-should-know-about-it

Online Forex Trading Course: Introduction to Forex Trading …

Forex is an abbreviated name for foreign exchange. The Forex trading market is an around-the-clock cash market where the currencies of nations.

Publish Date: 08/25/2010 14:27

http://onlinetradingtips.org/online-forex-trading-course-introduction-to-forex-trading

Forex Trading Sessions

There are two major forex trading sessions, the forex heatmap resets ahead of both of them.

www.forexearlywarning.com
www.theforexheatmap.com

Author:markmcdon2000

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.

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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?…

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

Now I have to admit that I am rather shocked when people take action on Trading videos that I intend primarily for education and information. And of course, they do so at their own risk. However, I am very gratified that it worked out so very well for him. In fact, what he did is precisely what I did myself shortly after making the videos he refers to. I sold out all my own stock market investments and also went to cash, 100%.

I wish I could say that I had participated on the entire stock markets rally from March. I DID participate in the first few weeks of it (in fact, I pretty well bought the very low of the Dow Jones at 6474 – actual low was 6470!). However, I was pretty skeptical of how long it would last, feeling that it was a bear market rally, and hence likely to falter. So the last 9 months caught me somewhat by surprise. Then again, after the Stock Market Crash of 1929, most people got sucked in by the subsequent rally only to get killed when the market tumbled slowly but relentlessly over the years that followed. So, let's wait and see.

Here are those very videos for your interest. If nothing else, it proves to the skeptics that Technical Analysis really can work extraordinarily well at times…

Regards,

Asoka Selvarajah

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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?…

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• The 'January effect' is a familiar pattern (telegraph.co.uk)
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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 let your discipline slacken and don’t do it yourself!

We’re all prone to this which is why we must maintain our discipline when doing online trading. The financial markets are not forgiving.

So what did I do? Well, the market opened yesterday morning a little outside of my stop-loss level but it was just drifting (this was an options trade so it’s not so easy to enter the stop at the time of the trade). I told myself that I would let it drift a little more in my favour and then take the trade off.

But you know what? A stop is a stop. If you’re wrong, you’re wrong. And what you invariably find if you play this sort of game is that you lose more than you ever win.

So it was yesterday. When I finally took the trade off, the loss was substantially larger than it needed to be.

Now, it’s no big disaster because it was a really small trade size. However, it is the principle that counts. I don’t think we should ever tell ourselves that we can “afford” a trade, i.e. the present loss level. If you do, you find that all too often, it will get to a point when it really DOES hurt!

Besides, if you play this game, when ARE you ever wrong on a trade? After all, if the market were to then improve in my favour, and maybe even go all the way back to breakeven, isn’t that less reason to take the trade off?

No, the answer is always to know your stop, i.e. when you are definitely wrong, and exit once it is hit or passed.

I shall make sure that I never make this mistake again. How about you?…

Asoka Selvarajah