How do you dare to set your annual trading goal? Once set, to whom do you dare to tell it?

1. The probability of the achievement of
your trading goal
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Options Trading

2. Let's not be so hasty
Not long ago, I had an interesting discussion
with one of my students regarding this. He
did not dare to set high trading goals for
himself, and what he set out, he did not dare
to share with anyone. Interesting, isn't it?
If you share your goal, you immediately take
responsibility for it. But, let's not be so hasty.
Let's first see what the probability of
achieving your goal is in specific situations.
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3. The probability of achieving your
goal is
10% if you hear an idea or read an interesting article
somewhere,
25% if you've decided that you're going to do it,
40% if you've also decided when you do it,
50% if you have planned how it will be implemented,
65% if you told someone that you would carry it out,
95% if you set a date to report your achievement to
that person.
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4. The probability of achieving your
goal is
The list of probabilities comes from the book “Do
More Great Work” by Michael Bungay Stanier. The
above numbers are amazingly true for trading as
well. You will never be a successful trader if you
just talk about it. You must set a goal and need to
follow it continuously. The setting itself is not
worth anything yet. You have to tell it to
someone, you must report on it, and you must
take responsibility for your goal towards
somebody.
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5. Do you know why most traders do not speak about
their annual profit expectations?
Because if you cannot achieve it, it is not "embarrassing".
You can hush it up then. But if you tell it to your wife,
husband, family member at home, you're going to feel
responsibility for it and you're going to work much more
intensively.
A goal that you keep to yourself is like a goal that does not
exist. Therefore it is very weighty - for example - to have a
coach who can help you achieve your goal. Because you
not only tell him what you want, but you accept the fact
that you’re going to take responsibility, you do not want to
confront the feeling of "shame" for doing nothing to reach
your goal. 5

6. Increase your chances
Now that you've read this article, you have a 10%
chance. To increase your chances, think about the
following:
What is your trading goal?
Why do you want to achieve it at all?
By when will it be realized?
What are you going to do about this and how?
To whom do you tell your exact goal?
When will you report about it to that person?
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7. Increase your chances
If you have answered
all questions, you have
a 95% chance from the
start. Of course,
words are no
substitutes for actions.
So, you should continue to train yourself, to
practice a lot, to develop. But without answering
the above questions, you do not have much
chance! 7

8. Feel free to ask me!
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Email: gery@optionsrules.com
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