Talking about goals. Having goals in trading is more than important, because at the end of the day you have to see if you are still on track or if you lost focus. There will be days that bring you closer to the status you want to obtain and there are days which are bringing you nowhere. But how do you know which type of day you have just had? By having goals.
To define goals that motivate you and really guide you, you should use a formula that helps creating the right goals.
It is called SMART, which stands for 
S pecific, 
M easurable, 
A ttainable, 
R ealistic, 
T ime phased.
Your goal needs to be specific; you have to know what you want to reach. (more…)