Some of you may have already started the year with trading decisions in mind.
For those who haven’t adopted them yet, it’s not too late!
Below are some of the solutions you may find suitable for your goals
- Review your trade regularly
Make it a habit to review your trading. What’s great about this resolution is that you can start immediately.
The start of the year is the perfect time to look back on your past trading performance.
It is important to be completely honest with yourself when evaluating your work. Ask yourself questions such as:
- What are my trading strengths?
- What are my trading weaknesses?
- Was I able to stick to my trading plan?
- Have I Reached My Past Trading Goals?
- What are my new trading goals?
But keep in mind, to really get the most out of your trading reviews, they need to be done regularly and frequently.
For this, we recommend keeping a trade journal. You can make one yourself, or you can try creating one at the BabyPips.com forum.
- Believe in yourself
Having a positive mindset can go a long way in helping you develop and grow as a trader. In fact, a completely new branch of psychology has emerged, based on positive thinking.
This new field, called “positive psychology”, focuses on helping people reach their full potential. This is very different from traditional psychology, which focuses on the treatment of mental illness.
So, no matter what your bottom line looked like at the end of the year, remember that you are starting the year with a clean slate.
Benefit from this and the additional experience and insight you have gained over the past year. They will enable you to learn and perform better, which can lead to permanent profits.
- Learn something new
While sticking to a working trading system is good, it is also beneficial for traders to learn new tricks.
Read a book, subscribe to a blogger trader with a different trading style, or read about other trading strategies. If you’re looking for new trading books and strategies, it’s a good place to start by visiting popular trading forums.
What matters is that you expand your trading skillset. Remember, to be a successful trader, you must constantly learn, adapt and improve.
You never know when the market environment will require new trading methods!
To help with your decisions, I recommend treating them as DAILY decisions, not yearly.
It can be difficult to develop and maintain this habit, but if you start with small changes and gradually build on them, you will be surprised by how achievable your goals are. You may even develop good trading habits!
And you? What are your trade goals for 2022?
Is it something big, like earning 20% per year, or something small, like increasing the time you spend in the charts?