A friend recently asked me how I stay motivated to trade when I’ve already made $4 million in the stock market…
Why don’t I put my money into index funds and live off of the interest stress-free?
The answer’s simple…
For me, the stock market isn’t about attaining a certain dollar amount — it’s about becoming the best trader I can be.
Bottom Line: I love being a trader!
Sure, I like making money as well. But the love of the game comes before the financial rewards in my mind.
This is why I’ve survived 10+ years as a professional trader — I live to trade, regardless of my results.
With these things in mind, I want you to ask yourself a key question … What are your goals in the stock market?
How can you better set yourself up for success and avoid disappointment?
Keep reading and I’ll give you a few ideas…
The One Type of Goal I Avoid…
The main point I tell students about goal-setting is this: don’t aim for making a specific dollar amount.
Why? Because working toward financial goals will inevitably leave you disappointed.
If you’re truly dedicated to becoming the best trader you can be, you won’t be satisfied just because you have a certain amount of money in your account.
Take it from me, a millionaire trader…
I thought my life would be completely different after hitting the millionaire milestone. But much to my surprise, it wasn’t.
Frankly, I STILL approach my trading the same way I did when I was a broke newbie. And I think that mindset has helped me grow my account exponentially over the years.
‘Making it’ as a trader isn’t about money. It’s about knowledge first and foremost.
After all, there’s a reason that 92-year-old Warren Buffett is still working hard at trading every single day — even with $100 billion+ in the bank!
Big picture: Trading is a lifelong journey.
It doesn’t matter how long you’ve been in the markets … There’s always more to learn.
My advice? Don’t set financial goals.
Instead, aim at significant personal milestones you’d like to achieve — then work tirelessly toward accomplishing them.
After all, there are plenty of non-financial goals that traders can work towards…
6 Steps to Consider When Setting Your Trading Goals
When setting your trading goals, consider the following…
Realism: Set realistic goals that are clearly defined and measurable. Instead of a vague goal like “make millions,” work towards practical milestones that are achievable based on your level of experience. (Example: “I’ll mark up and analyze three charts each day this week.”)
Risk Management: Prioritize goals related to risk management. These might involve limiting the size of individual trades, reducing the number of trades you make, or limiting your losses to a certain %.
Skill Development: Set goals related to improving your trading skills and knowledge. This could include mastering a specific technical indicator, reading a certain number of books, or attending trading webinars/seminars.
The Next Trillion Dollar Chipmaker After NVDA (Not AI)
Is this little known chipmaker the next NVDA?
It has nothing to do with AI, but this company’s patented chip could generate NVDA sized gains in the coming months…
Companies like Microsoft, Intel, and Google are all quietly racing to be at the forefront of this new phenomenon…
But unfortunately for them…
This one small company holds the key to this revolution…
Consistency: Aim to develop consistent trading habits. Setting goals around maintaining discipline, following your game plan, and minimizing emotional trading can lead to more reliable results.
Adaptability: Include goals that encourage flexibility and adaptability. The market can change rapidly, so being willing and able to adjust your strategies on a dime is essential.
Performance Review: Establish goals for evaluating your trading performance. Review and analyze your trades regularly. This can help you identify patterns, strengths, and weaknesses in your trading approach.
Are You Ready to Learn From the Best?!
You need to hear this…
A great mentor can help you establish clear and realistic goals more than anything else.
I’ll be honest, I was very lucky when I was a newbie trader…
I discovered Tim Sykes’ Trading Challenge within my first few months of researching the stock market — and it completely changed my life.
Sykes has helped traders learn to succeed for years. More than 30 of them (including me) are now millionaires.
And the best part?
Every single day, Sykes and his team are hosting live training sessions throughout the day. He discusses what stocks are moving, the opportunities he sees, and the tools he uses to execute these plays.
If you aren’t taking advantage of these zero-cost classes … what are you waiting for?!
CLICK HERE TO SIGN UP TODAY FOR ONE OF OUR FREE, LIVE TRAINING CLASSES!
I’m excited to see you there!
