How to Start Achieving Goals?

Attitude

For many traders, this week is the first week back to their trading desk after a long period of festive break and holiday. Many would have written New Year resolutions and goals.

In order to up the game for the new year, you need to have goals that give you the buzz and energy. If you’re serious about your trading career, then make exciting and great goals. Don’t just have mediocre and boring but achievable goals. Be ambitious and push yourself for growth. If yes, that’s great. But, more importantly, will you make it happen?

Which leads me to today’s discussions.

Positivity

“Mastery is a matter of attitude and, beyond that, the development of the power of your mental potential” – Ari Kiev (Author of Hedge Fund Masters).

Now that you have a set of goals, having the right attitude is critical to achieving them. Many of you would have written these goals and then resumed back into your “normal” routine of “work as usual”. By end of January, some of you would probably have completely forget about your resolution quite quickly. Trust me, for some of you, once you get back to the old routine, it’ll probably take another new year before you get back to it.

And that’s what I’m talking about. Making goals are great but having the Right attitude towards these goals will make a huge difference.

My advise is this, go review your goals again and break them down to achievable mini goals. More importantly, note down positive action statements for each of these mini goals. We want to tune our mind to hold positive statements as these will eventually affect our sub-conscious mind. This is a simple recipe of

Right Words leads to Right Thinking, and Right Thinking leads to Right Attitude.

Ok, enough of talking, here are some examples to illustrate my point.

Example

Alan wants to make 100% (compounded) return by the end of the year. That’s a 6% month-on-month return. The following are examples of normal but neutral action plans:

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  • I will try to make 6% return each month
  • I should be able to avoid interfering from my trades
  • I shall keep a trading journal

Instead, Alan should write Positive Action Statements like the following:

  • I make 6% return each month.
  • I follow my trading rules (Non Negative).
  • I keep a trading journal to find areas of improvements.

Now, close your eyes and try saying both the Neutral and Positive statements out loud. Did you notice how a positive action statement would give you a positive vibe and energy even though they are similar actions? Can you sense the confidence going through your emotions?

Do not underestimate these Positive Action Statements as they are powerful tools to help you grow as a trader (as well as a person). They are also amazing tools to help you take Real Actions.

Commitment

commitment

Early this week, I managed to pull out an old video by Nick Vujicic and how he showed the world that nothing is impossible (click here to watch). If you’ve not seen the video, it’s definitely worth spending 15 min of your time on this. Trust me, it might even change your life.

My key message here is this, you now have goals for the year, you write out Positive Actions Statements about them and the last step is really to commit to them. As you can see from the video, nothing is impossible. Hence, don’t over-analyse the situation and just take the leap.

I know and I get it, commitment is a big word for some people, there will always be some things else in the way. In my view, if there is something else that is more important, than clearly your priorities are not in the right place. On the flip side, if your goals are in line with your beliefs and values, then your commitment should come very easily.

Commitment is also being in the “Now”. Don’t worry if you’ve made mistakes in the past and you have weaknesses that may prevent you from growing. You see, that’s the past, and you don’t know what’s going to happen in the future. The only thing you should do is to Focus on getting it Right here in the present and believe that the potential rewards are worth the effort when you get it right.

Very often, people have Plans A, B and C all the way to Z… Seriously? Please don’t bother. The more plans you have, the less committed you’ll be to any single one of them. Instead, have spend your time on just ONE plan and the idea isn’t to get it right first time. Instead, have continuity in the plan so that you’re forced to get it right eventually.

Taking a Driving test is one great example to illustrate this. For most people, there is no plan B. They need to get a driving license and that’s it. They believe they can do it, they know what to do and they Do It. However, not everyone gets it right first time. If they fail, Plan B is to repeat Plan A. They might take lessons from a new instructor but the focus is exactly the same. And this goes back to my point, if your beliefs are in line, your commitment will come easily.

Tools

i_can_and_i_willIf it helps, think of famous mottos or quotes that will help you. For example, this is a good one from Anthony Robbins:

“When it seems impossible, when it seems like nothing is going to work, you’re usually just a few millimetres away from making it happen.”

Or find commercial ones where you can resonate, like “Just Do It” by Nike or “The king is the man who can.” by Thomas Carlyle.

Be open and creative about this. Attitude and Commitment are such crucial ingredients to success that it doesn’t matter how you would do it, just decide, commit and it’s done by the time you know it.

Conclusion

If you want to turn over a new leaf for the year, this is the right time to review your plans. Having New Year resolutions and goals are great. However, they are not effective without having the right attitude and commitment.

Thank you for reading and have a good weekend!!

 

 

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