elevatedinvestor

Want Better Results In 2021? Try This Checklist...

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1. Write your goals in present tense

My biggest takeaway from 2020 is that trading is 80% mental and 20% strategy. Maybe even more. Think about it. Everyone on here uses practically the same tools. But why do some succeed and some fail? It is because of their habits, and their mindset. (Habits come from your mind). So it's all Mind.

The reason why writing your goals in present tense as if you've completed them is important, because it helps you visualize yourself as completing the task. Which helps you believe it is possible! You can't achieve anything unless you believe it first.

When you set your goals don't do it based off of what you think you should be achieving. Do it based on what YOU actually want. Just because people flash lamborghini's and "$20k in 60 seconds" on social media. That doesn't mean you want or have to do that. For example, my goal in 2021 is to extract a minimum of $60k in profits in 2021. Because that number allows me to live how I'd like. No boss, travel a bit, time freedom, bills paid, etc. (I have bigger goals, but that is my minimum target I set for myself)

2. Invest in yourself

If you are not growing as a trader, then how do you expect your results too? Either seek a trading mentor who is where you are striving to be, or invest in a course, book, etc that will help you fine tune areas you currently lack in. The study of your self is where you will find the holy grail most traders seek. When you know what triggers you to revenge trade, or make bad decisions, you can then overcome it. I recommend the book "The Power Of Habit." This book helped me overcome very bad trading habits.

3. Check November candle closes

This should be self explanatory, check the monthly close to stay ahead of the December outlooks.

4. Reflect on all your journal entries from 2020

Once again, self study is king. If you don't journal then that should be your goal in 2021. Journaling provides so many benefits, it's not some emotional hoopla. It will help you release negative energy onto paper, rather than into your charts. It will help you manifest things if you write with affirming vocabulary. It will remind you of things you've done in the past, even certain techniques you've forgotten you used. It will also allow you to recognize patterns and behaviors specific to you.

5. Check yearly candle closes

Another self explanatory one, check the yearly close on your favorite assets to gauge what the next year could be showing you. DOING THIS HELPED ME SEE CORONA VIRUS VOLATILITY COMING 3 MONTHS BEFORE IT HAPPENED. Right now is when you prepare.

6. Be honest with yourself

What did you accomplish this year? If you lost money, how did you grow? Take some time to reflect on how you felt each month this year. What could you have done better? Did you hit your goals? What have you learned?

Write down three things you feel you NEED to get better at to become a successful trader.

7. What do you understand?

What did you do right? What do you feel confident in? Do you feel confident in fibonnacci? Market structure? etc. Do you feel comfortable risking 1%, 5% per trade? What have you gained this year, and how can you build on that?

8. Create an action plan to improve your weaknesses.

The first step to growing as a person, trader, husband, wife, or anything, is to first become aware of where you are currently at.

Create an action plan that solves or improves your weaknesses, and accept that you need to improve in those areas, when you fully embraced your current level, it allows you to grow. You can recognize it as a starting point....Now, how can you get from here to there? A plan.

Ideas - Find successful traders and hangout with them, by a course, go to a seminar, read more, start a new hobby that is healthy for your mind. Do something that takes the same skills as trading, like gardening.

I hope you have a successful 2020, and are prepared for 2021.

Message me if you'd like to connect!

Stay Elevated,


Comment: Here is the reading list link if anyone wants it, it's a google sheet I put together: https://bit.ly/3fYLmpm

Comments

And don't buy into scams 🙂
+8 Reply
BlockTechEv RickVBlack
@RickVBlack, totally. Scams and ponzis like MTI
+1 Reply
elevatedinvestor BlockTechEv
@BlockTechEv, what's MTI, is that a multi-level-marketing company? Never heard of that one
Reply
Dont forget to risk manage!
+6 Reply
elevatedinvestor XForceGlobal
@XForceGlobal yes 100%!
Reply
Hey! thanks for this ... i needed this. I am six months into live trading and i can agree with you that trading is more of psychology than strategy. I have been struggling managing my mind and emotions in trading, it has been the reason for my messy failures, doing all i can to put it under control, getting there slowly. Help me with books i can read to get rid of my bad trading habit and to become a better person. thank you.
+4 Reply
@FJ22 I will share some books with you once I finish putting the list together
+1 Reply
lynn_tan elevatedinvestor
@elevatedinvestor, appreciate if you can share the list of books too. thank you.
+1 Reply
@lynn_tan, Here you go -> https://bit.ly/3fYLmpm you can download as pdf and save it
+1 Reply
lynn_tan elevatedinvestor
@elevatedinvestor, thanks very much! :)
Reply
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