First is having a goal. Goals provide us with a target and a direction. This helps us determine which information to pay attention to what to ignore. It also helps us determine which actions are needed to get us where we want to be. You’ll find that much of the stress and indecision in your life, as well as your trading, is due to the lack of a clear direction.
Second is motivation. Whatever goal we set must be exciting and believable to us. When we set a goal that is exciting to us and we believe that it’s attainable, we become extremely motivated to take action toward the desired result.
Third and perhaps most important is commitment. There will be many obstacles on the path to accomplishing a worthwhile goal. When those obstacles appear it’s really easy to lose the belief and thus the motivation to continue on the same path.
Without these three things the success we’re looking for will elude us no matter how many books we read or how much money we spend on courses.
I think as traders, most of us have a general goal or direction. And some of us have at least a little motivation because we’re trying something… but that isn’t enough.
In order to succeed as a trader we need to do more than just try things. Completely changing gears every time there’s an obstacle will get us nowhere. We need to make an absolute commitment to the process to push through the many roadblocks we encounter along the way. It is a process of committing to a path, taking action, noticing our results and then making gradual shifts in our approach until it works.
How can you tell if you lack commitment? Just listen to the language you use when you talk to yourself and other people. I happen to have a perfect example.
Below are some excerpts from an email I received a few weeks ago from someone “interested” in the M21 program. To put the quotes in context, the email states that he has taken “A LOT” of option training.
“To be honest……..consistent results have eluded me………..make some ….lose some”
“13 hours of Video is really hard to digest…high Motivation required”
“What I am looking for is a Try and Buy package for M21 program…….try for 90 days and if I like it I will pay for it”
Talk about lack of commitment! No wonder results have eluded him. No one gets great long term results when they lack commitment. It’s a law of nature just like trying to defy gravity.
I actually feel sad when I see something like this because I know this person is looking in the wrong place. He’s spending money on vehicles and hoping he’ll stumbles across an easy way to make money. Good luck.
If this sounds like someone you know, remember, there is no trading program that will “work” as long as you’ve got the general goal to make money but lack the motivation and commitment to get it.
My advice for this situation is not to spend another dime for trading systems until the motivation and commitment issues are dealt with.
The great part is we can help with that! Whether you’re looking to set goals, find motivation or learn to commit our coaching programs can help you get the most out of your trading. For more information visit www.lockeinyoursuccess.com