Take Charge of Your Life

Does it seem as though your trading is more in control of your life than you control it?

If that is the situation, then it is time for you to get the upper hand and take control. Many traders believe they have no power over their trading. You must have control and that means creating, setting and achieving goals.

New traders think that they are going to make 40, 50, 60% or more their first year of trading. It won't happen. But that does not mean that you can't get there. It is a matter of taking small baby steps and persevering to reach your goal of successful trading. Let's face it, Michael Jordan was not born a great basketball player. It was hard work. In fact, having seen him play as a freshman in college for North Carolina, I would never guess that he would be a super star.

The answer for increased profitability may not be "out there" but inside each of us. Lifepuzzle.com is a web site about personal growth. Yes, I know this is not an area most stock traders explore . But it helps a lot of people. I don't know if it directly helped my trading, but I had one of my most profitable periods after reading this material.

Life Puzzle, designed by Ann Kramer is a tool that encourages setting and achieving goals. She divides "Life" into 16 categories including such areas as thinking, exercise, recreation, challenges and financial. The general concept is that each area of our life affect other areas of our life. Any upset or imbalance in one area can disrupt other areas. Most experienced traders know that trading during emotionally disturbing times of our life can lead to distractions and poor financial returns.

Dr Kramer offers some general advice (which I have adapted for traders):

Keep the whole in mind. We are  physical, emotional and thinking beings. Consider the impact that your choices will have on your life. And I would add, ask yourself, especially when your trading seems less than optimal, what is happening in your life that is impacting on your trading?

Accept changes. Trading and markets are always in flux. Change with the situation. Learn and grow with the change. If you do, you and your profits will grow.