Wednesday, July 7, 2010

The Daily Note - What's It All About?

As traders we tend to have money on the mind, yet the Dollar signs are really not the end game; or at least I hope not. Trading like in any other profession, involves hard work and the rewards are the pay. But I suggest that all traders better think of a goal to do with that pay or the rewards will become hollow once the green or gold glint rubs off.

Goals are not only good for motivation, but also good for the feeling of accomplishment. Something other than money to feel. When you actively do something, create with your hands, learn with your mind, or travel to another area of the world. All takes you not just mentally, but physically to a different place and once you finish, a feeling of accomplishment is the added reward. This is the feeling that makes it all worth the time you input into the work.

Without goals, people tend to float and become obsessed with the doing rather than the enjoyment of the journey. In other words, traders can become addicted to trading. So, although a daily goal for earnings is important, a goal for what to do with that accumulated sum becomes paramount.

Like with any business or professional plan, take some time out to plan your goals. Then, the next time you sit at your desk at the start of the trading day, your list will be there with you making the whole process more meaningful. Celebrate your accomplishment when you reach each goal and add another goal to the list. If you do it each time, you will be forever motivated to work and to reach another goal. As each goal is reached and another becomes the purpose behind your work, you will slowly realize that there's nothing that you can't accomplish.

Happy Trading, Living and Dancing
Today's Pick - PNRA

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