HOW TO BUILD YOUR WEALTH BUCKET USING THE COMPOUND INTEREST EFFECT

Forget about defining trading goals or objectives and put your focus on this

We all want to learn how to trade and invest and become consistently profitable forex, futures, and stock traders, and we have been made to assume, and think that giving ourselves timelines and goals will help us achieve this. It may seem a contradiction to say that you don’t want to focus on your trading goals whether it is to make a certain amount of profit every month or your overall goal to become a consistently profitable trader in the forex, futures or stock market.

Telling you this is making you wonder if our online trading academy is smoking pot or on drugs. The general knowledge is that setting specific goals for each day, week, or month is what will push you towards the consistent profitability you so desire. This doesn’t equate to not achieving success in case you were wondering. Helping you to achieve and maintain consistent profitability is our goal at our online trading academy, but we have a better approach for you.

The society has indoctrinated the idea that to achieve anything in life; we need to set goals. If you want to lose weight, you set body goals; if you want to pass an exam, you set grade goals; if you want to save, you set savings goals. As noble as all these goals sound, we have to realize we only end up achieving a few of them, and we fail at the rest. The critical fact you need to understand is that your results have nothing to do with the milestones you set but with how well you follow through with the process.

Let’s discuss a scenario whereby you don’t have any defined body goals, but you have specific processes like cardio and eating healthy. Just by following these processes religiously without a particular goal in mind, would you be able to obtain the same set of goals? Instead of setting score goals, you can also focus on reading and being productive, and this will also bring about results without unnecessary pressure.

As you, of course, know your resources are limited, so is your attention and mental focus. Your emotions and focus should be geared towards developing your Supply and Demand trading strategy and not fantasizing about your goals. Setting trading goals are one of the easiest ways to go into overtrading and lose focus. Your attention and mental strength should be directed towards building a working Supply and Demand trading strategy, a weekly trading routine and continuously improving on that overall system. Trading goals open up the mind to think about possibilities and probabilities, and this will only help a forex, futures and stock trader lose discipline and start looking for the next new thing to trade.

Are we now saying that trading objectives are entirely useless? Of course not, but we need to help you understand that they do not contribute to your overall success, but can even be a form of distraction if precautions aren’t applied.

Dangers caused by trading goals

We want to examine how our focus on trading goals can wreak havoc instead of bringing results. Trading goals put pressure for performance and success on you without regards to how random and uncertain the market sometimes is. One of the most unfortunate occurrences a forex, futures and stock trader can have is having immense success as a newbie. We are sure you are wondering how any kind of success is bad, but this only creates unnecessary pressure for performance, and it can get depressing if the results are not that fast.

There is something called beginners luck, but in trading and investing in the financial market, any luck cannot be the determinant factor for a trader and investor. Luck will quickly run out, and we will be left with the reality to deal with. When you are focused on profits and your goals alone, it creates a kind of narrowed perception, such that you are only interpreting information in a way that suits you and your focused trajectory only, regardless if it is accurate or not.

The only way to approach forex, futures, and stock trading is with an open mindset and an eye that doesn’t skip over facts because that can get disastrous. You have to understand that no matter how amazing your Supply and Demand trading strategy is, there will be some trades, and you will end up losing. The financial market is sometimes unpredictable and might not always swing in your favor, and one of the essential skills to have is being able to control your fears of uncertainty and manage them rightly.

One general similarity between consistently successful traders and investors is the ability to follow through their Supply and Demand trading strategy and weekly routine and therefore maintain emotional stability in the face of uncertainty.

All forex, futures, and stock traders have similar goals: successful and unsuccessful ones alike

The fact is we think traders and investors are successful because they had their goals set right, but we fail to realize that setting goals are common to both successful and unsuccessful traders and investors. Everyone who begins with forex, futures, and stock trading comes with the hope of winning and creating a steady flow of income and wealth.

We should, however, have realized that if both the successful and unsuccessful traders have similar goals, then the goals couldn’t be the distinction point. The significant difference is about how we implement our trading strategy; organize our week and how we follow plans through. Only a consistent and well-disciplined forex, futures and stock trader can achieve this, and the vision at our online trading academy is to train these kind of traders and investors who are matured and disciplined.

Trading goals are momentary

Many people tend to address things at face level with little to zero consideration about what could be going on within. To solve a problem, you need to do a proper analysis of what the root cause is, if not we’ll be left treating the same symptoms over and over again. If your room tends to get messy at the end of the week, the first line of action is not to look for the extra energy or motivation to do a massive cleanup. What you need to do is to check your daily habits and consider which ones might be contributing to the level of messiness you experience at the end of the week. When you detect the root problem, then you can tackle it and prevent a recurrence.

In forex, futures and stock trading, if your trading strategy is weak or you have bad trading habits, setting a momentary goal you can crush will not suddenly make you a better trader, it will only create a temporary kind of solution which will not solve your problems. You will still have to take the long stressful approach of building your Supply and Demand trading strategy and training yourself to develop better habits and processes.

Trading goals restrict your happiness

What this does is that you start connecting your happiness to a market you do not have complete control over. This is a slippery slope that leads nowhere good. The result is disastrous and damaging. You end up putting your happiness off into the future, making you miserable until you achieve your goal. This doesn’t even put you in the right mental state to trade and invest in the forex, futures, and stock market efficiently.

You end up in a two-way situation: you either achieve your goals and be happy or you fall short and be sad. This is a way to failing mental health because the probability that things would go in the exact direction or path you imagined is very much unlikely.

Focusing on your Supply and Demand trading strategy and your trading routine, however, gives you the chance to become intimate with the process rather than being product oriented. You don’t need permission to be happy, and having a stable emotional state means you can make better judgment calls, which equates to being a better forex, futures, and stock trader.

Trading goals negate the long-term success

Having a trading goal makes you task oriented rather than development and process oriented. You are extremely motivated to reach your goals, but once you do, the energy runs low. This makes you extremely unstable and unreliable. If you achieve your trading goal, afterward what’s the new target, what will keep you developing? Nothing because trading goals are like sprints while trading itself is a marathon race.

Often, people find themselves going back to old unproductive habits when they fail to reach their goals or when the goal has been achieved. The point of goals is to make profit, but the point of developing a Supply and Demand trading strategy and follow through with your trading routine is to be consistently profitable for the long-term. It is not about one single accomplishment; it is about continuously improving and redefining yourself to be a better forex, futures and stock trader and a better version of yourself for the sake of long-term sustainable success.

Fall in love with the process!

Trading and investing in the financial market involves a one-off effort. If you want to trade and invest for the long-term and ensure you have sustainable success, you need to focus on developing a trading routine and building your Supply and Demand trading strategy. You have to resist from getting overly emotionally attached to the results, either good or bad.

Your overall success is not dependent on goals but on the Supply and Demand trading strategy and trading habits you built over time, this doesn’t, however, mean that your goals are useless, they are only short-term oriented. Goals push you for the short-term but a reliable overall system and healthy habits are what will ensure your long-term success, and this is what we teach at our online trading academy.

If you want to learn more about professional trading and investing across multiple asset classes such as forex, futures, and stocks, please sign up HERE for free at our online trading academy www.onlinetradingcampus.com and get access to a free three-hour introductory course.

Happy trading!

Author Bio: Bernd Skorupinski teaches the undiluted truth about trading and investing at Online Trading Campus and takes you through what it takes to be a consistently successful trader. His favorite moment as a trading mentor is the way peoples’ eyes light up with excitement and confidence when they understand how Supply and Demand trading strategy works and how it can help win in the trading arena. He believes in building core values and discipline that ensures his students do not succumb to the pressures and temptations of the market. He very much believes in following plans and strategy through. If you want to know more about the author Bernd Skorupinski please read HERE