May 22, 2017

Should You Set Monetary Goals In Your Trading?

I am not a fan of setting monetary goals in your trading. Why?

First of all, one of the problems with setting a fixed monetary goal is that you may become so concerned about the outcome of your trades that it will start interfering with your process, making you cut short some trades to grab a quick profit for example.

Second, one of the tricks of being a consistent winning trader with a carefree state of mind is exactly not to think about the money when you are trading.

A third point against setting a fixed monetary goal for your trading session, week or month is that your particular method, strategy or system will work better in some market environments than in others. So, you should expect that variance to show up in your P&L. A P&L that shows variance is not really compatible with fixed monetary targets.

PS: Trading Course is now available both in Paperback and Kindle eBook. Buy it now on Amazon!

You will follow practical steps and acquire the essential skills a successful trader must have in order to consistently win, and you'll also learn:

- how to develop a trading system
- how to utilize the best trading techniques within a trading methodology
- how to think about the psychological aspects of trading and the markets
- how vital it is to treat trading like a business

As you master this breakthrough program, you'll build yourself a distinctive trading signature.

"It took me five years to become a profitable trader and almost another five years to become extremely consistent. If I had come across the right trading material and concepts earlier, I’m sure the learning curve would have been far shorter. This practical book will give you the materials and concepts I wish I’d had early in my career." - Henrique M. Simões

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