Better System Trader 038: World cup trading champion Kevin Davey talks about the importance of trading goals, common mistakes traders make and the best way to formulate good goals.
Happy New Year!
The start of a new year is typically the time when people review their accomplishments and progress for the past year, and make fresh plans for the year to come.
I thought it might be good to do a quick bonus episode with someone who knows all about setting goals and achieving them. That person is World Cup trading champion Kevin Davey, who was a guest of the show on Episode 5.
Now this is a bonus episode so it’s a really short one but it’s full of great information, including the importance of goals in trading, common mistakes traders make when setting goals and the process to creating good goals.
Whether you're an accomplished goal setter or just starting out I think you'll find value in what Kevin has to share with us today so I hope you enjoy this short chat on goals in trading.
In this episode we discuss- Why it’s important to have goals in trading
- The impacts of not having goals can have on trading success
- The types of goals appropriate to traders
- Common mistakes traders make when setting goals
- An easy way to create good goals
- How to determine if your performance goals are attainable
- Why some traders get hung up on goals that aren't relevant
- Why you need a time limit on your goals
Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.