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  • The Mind of a Trader Podcast with Steve Croft

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    "The most important exercise for a trader is that of the mind."

    This is Steve Croft's approach to trading. With his unique and compelling delivery, all traders can benefit from Steve's trading experiences and anecdotes to stay mentally balanced and focused.

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Monday, November 17, 2008

MOT 69 Podcast - Start Strong, Trade Strong, Finish Strong

Monday, November 17, 2008
Duration: 17:48 min

Show Notes

Chalkboard with the words 'Set Goals' written'

Each of us needs to set goals within our personal trading programs to become successful.

We all need to know exactly what those goals mean and how to best achieve them.

It will not happen overnight, however many people seem to start strong when they decide to be a trader but then quit when things do not happen fast enough for them. Or maybe they do not start very strong, but get serious when they get into their routine of executing trades and soon become discouraged and stop doing what was working. Or maybe they finish each session strong, but that was just to recover what was lost during the rest of the time when they were not focusing on their trading strategy.

To reach a level of continuing growth as a trader, each of us must have a plan in place and then ensure that we do everything possible to begin each day very strong in our preparation steps. We must then continue to make strong confident decisions while we trader even when the results are not what we expect.

Finally, we all need to have a target each day that determines when to finish our session and be strong enough to adhere to that plan. If we keep going, it generally leads to massive losses and frustration which then stays with you until you begin to trade again. This will cause a very sour perspective of trading when you attempt to start a new session. Start Strong. Trade Strong. Finish Strong!