Brian here and today we’re going to look at critical Step #2 in realizing your independence and a better life through trading.

When I was back in Engineering school, I loved the Project Management planning.

And one of my favorite aspects of it was “Critical Path Analysis”.

This was where we would look at all the dozens of things that were part of the project, then identify which were the ‘critical’ events & activities.

This exercise was crucial to the success of the project, particularly with regards to getting it done on time.

Now the items on the ‘critical path’ were those that were deal-breakers.  If they got held up or messed up, it would have massive impact on the entire project.

If we neglected to do this analysis, even on a very simple basis, we were putting ourselves at risk of total failure in the worst case.  Best case, we’d get the project done, but it would take substantially longer than desired and cost more than expected.

Same goes for your trading business.

If you don’t tend to the critical steps, realizing the consistently profitable and RELIABLE trading business that you desire will take forever and cost way more than it should.

Yesterday we looked at critical Step #1 – reaffirming your beliefs both in the possibility of success for individual traders and more importantly the possibility for YOUR success.

So what is the critical Step #2?

Targetting, and it is absolutely essential that you get this right.

You see there 3 groups of traders in a certain regard.

Everyone gets into trading for a reason, but understanding which group you fall into strongly determines how long your struggles last before you get to a desireable point.

Group #1

The first group of traders are unhappy with their lives to a degree and have looked to trading to facilitate them getting away from this unpleasant status quo.

Usually it is a JOB that they really have had enough of, and they want to escape the life of basically being owned by someone else.

So Group #1 is simply running away from the here and now.

They’re not sure where they’re going, they just know that they want to get away from their current situation.

This group is often feeling a sense of desparation, and unfortunately, this group often gets conned or cajoled into buying all sorts of very expensive stuff that they later regret, like trading system after system, high-dollar bootcamps and workshops.

The scammers also love desperate traders – desperate traders are easy to sell.

Group #2

Group #2 is a bit different in that they are no longer desperate, but they still basically just want to get away from their current lot.

This group however is the worst one to be in, and here’s why:  this group suffers the slow death.

They’re in a certain amount of pain or at least significant discomfort, but they’ve also developed a tolerance for it.

They’ve become used to the struggle, to putting in long days with poor results and month after month of disappointment.  This has become ‘normal’ for them.

Sad part is that their pain tolerance now has them paralyzed.

They can just keep doing what doesn’t work and suffer through it, without getting the help they need to make any real difference.

Or even worse, they’ll keep going through the cycle where they do just enough to ease the pain, then stop or coast until the pain increases again.

Kind of like the ‘frog in the frying pan’, where the frog will just sit there as the heat increases without jumping out, the group 2 traders can just sit there while life passes them by and do pretty much nothing about it.

A slow death awaits them both.

Group #3

Now Group #3 is the place to be, because the traders in this group have a huge advantage.

They’re still looking to improve on the status quo.  They too want better.

But they’ve figured out where they want to be, in at least some detail.

They are NOT running AWAY.

They are running TOWARD.

Huge difference.

Unlike the other two groups that waste tons of time and money looking to escape, this group can take POSITIVE action that keeps them moving in the right direction, instead of running in circles.

They know what they want.

They have reaffirmed their commitment to reaching their destination.

They won’t accept excuses any more.

Most importantly, they have CLEAR DIRECTION, and that is much bigger than just the pain of the moment driving them.

A Group #3 trader has a TARGET that is PULLING them along and will keep them moving all the way there.

Having a target makes it so much easier to see what the obstacles are and what to do to clear the path.

Targeting, rather than just running away from ‘here’, let’s you focus your energy and resources, and minimize wasted time, effort and money.

Of the three groups, those in the 3rd group are most likely to achieve a desireable level of success in trading and in the shortest amount of time, by far.

By taking a wee bit of time to TARGET, you give yourself a huge advantage.

Don’t worry about making it perfect on the first draft, but take a few minutes to at least set some clear goals, reaffirm your dedication, decide that you will do what it takes to get there.

Well worth your time.  Do it now.

Cheers

Brian

P.S.  Life is too short to waste it.  Take action on this message today.  More to come tomorrow!