It can feel like you opened a hose and just got drenched when you are first considering getting into day trading. It can be an overload with all the information, trading strategies, and available stocks. So, it is important early on to identify what your day trading goals are because what might work for you or seem obtainable may be different for someone else. Every trader wants to make money, but this should not be your goal. The goal should be to get proficient with the process, and the money will follow.
You must be thinking, why are goals important? Goals are the roadmap to your success, and in the end, that is what you should be aiming for. For example, if you wanted to meet someone at a new location, wouldn’t you need to address to get there? The same applies to day trading, you need to have a clear understanding of what to do to get to your destination. Setting goals helps us prioritize things and helps us define what we truly want in life. After all, isn’t the American dream the belief that anyone, regardless of where they were born or what class they were born into, can accomplish their form of success in a society in which rising to a higher social or economic position is possible for everyone?
You’ll find that the journey may be more rewarding than the outcome itself. When you break it down in a one-step-at-a-time approach, it gives you the ability to constantly evaluate your goal and whether it is realistic or not. You will discover that you learn faster and are more successful when your focus is on the process and not the result. You’ll find that the journey may be more rewarding than the outcome itself. Focusing on the strategy rather than the outcome is something that takes two very separate and equally vital things; discipline and focus.
Day traders want to make goals about numbers, how much they will make, or a profit target. But what most traders don’t realize depending on the strategy they are using it may be impossible to reach a number goal, but still could be a decent profit. Some traders lose time and money searching for strategy after strategy and still not finding the right niche. It is important to know that there will be money lost and there will be failures along the way. But how are you expected to grow and get back up if you don’t get knocked down first?
Failure in life helps to build resilience; the more we fail, the more resilient we become. Thankfully you stumbled across my article and I can shine some light to guide you to the correct path. The MK VIP training has plenty of resources to help you get started on reaching your day trading goals. I will teach you a strategy that will help you create a plan so that you can push out of your comfort zone. The MK VIP program will help you focus on entry, exits, and how your money will be managed. We will take a look at market conditions, position size, past performance, trends, support levels, resistance levels, and volume; it will help you minimize your risk.
Keep Your Hand Out the Cookie Jar
Remember your mom use to say to keep your hand out of the cookie jar before, so it wouldn’t spoil your dinner? Well, the same applies to day trading, sometimes it’s better to stay out of trading than to jump in and lose money. This is because the market is unpredictable and impulse is not your friend when it comes to this field. Impulse and emotions lead to losing money, although making money is not the focus, nor is losing money. In any sport you practice so you can win and that’s all it is that you are doing; learning the structure you need to win.
Making one of your goals to be disciplined and look at your surroundings will make lead you to the path of being a professional trader. Another thing to keep in mind is less is more. This means, you don’t need fancy gadgets, just keep your strategy simple. Results will come from sticking to your plan and avoiding getting too complicated. This is because you are dividing your focus, and it makes you less productive. Dividing your attention leads to mistakes and takes you away from reaching the end of the tunnel.
Summary: Day Trading Goals
Would you walk into a bank and ask for a loan without having a business plan in place? If you did, the chances are you wouldn’t get approved for a loan; having a strategy for day trading will help you reach your goals. You also learned that keeping it simple and sticking to your plan should be part of your goals. Aspirations for money are ok, but they should not be your focus, and the chips will fall into play as long as you stick to the plan. It is also evident that day traders lose money, but you can do things to minimize your own risk. You learned that you will get knocked down, but that you can always get back up.
My goal has always been to help as many day traders achieve their personal financial goals, whether they are novice traders or experienced traders. With my program, you can learn the key points in this article and so much more. You will be profitable for at least 80% if not more of your trades. I can teach you the best trading strategy that if you put in the work and practice, you will have consistent winning trades. We also dive into different factors that can affect you as a trader; all geared to make you the best you can be.
Maurice Kenny has helped over 600 people become financially free through one-on-one coaching, mentorship, and options trading strategy. Many of these new traders are now full-time traders, and they all started by watching his 1-hr webinar.
Feel free to check out other FREE educational resources to help guide you as you begin your new journey to financial freedom.
Also, download a (FREE E-BOOK) by Maurice Kenny, “DAY TRADE LIKE A MILLIONAIRE.”