Faulkner’s list of the six key steps to achievement
- using both “Toward” and “Away From” motivation;
- having a goal of full capability plus, with anything less being unacceptable;
- breaking down potentially overwhelming goals into chunks, with satisfaction garnered from completion of each individual steps;
- keeping full concentration on the present moment – that is, the single task at hand rather than the long-term goals;
- being personally involved in achieving goals (as opposed to depending on others); and
- making self-to-self comparisons to measure progress.
Robert Krausz’s basic tasks necessary to become a winning trader.
- Develop a competent analytical methodology.
- Extract a reasonable trading plan from this methodology.
- Formulate rules for this plan that incorporate money management techniques.
- Back-test the plan over a sufficiently long period.
- Exercise self-management so that you adhere to the plan. The best plan in the world cannot work if you don’t act on it.