Brian here with Success Tip #6, and probably the most important one of all.
The last tip I sent you was about the 4 different groups of traders and how the first two groups never realize their goals, while the third group is on their way and the fourth group has arrived and enjoys all the benefits of successful trading.
The key is to be mindful of where you are now and do what you need to do, make the changes you need to make, if you do indeed want to make it to the 4th group.
The most critical and integral action that makes that happen is to PLAN.
You may have heard the life wisdom,
“The best way to predict the future is to create it.” – Peter Drucker
The reason WHY planning is such a high-ROI activity and such an incredible money-making tool is because it eliminates so many drains that often kill great ventures.
Now you may be thinking that trading is such a simple business that planning is not very necessary to become successful.
Sometimes I hear [not-yet-successful] people tell me that the planning is such a pain, that they’d rather just get busy doing.
And so I ask them a very direct and pertinent question:
“If you can’t build it on paper, how do you expect to do it in the real world?”
The plan is how you bridge the two, taking it from idea to tangible.
Plus when it comes to the psychology of trading, planning serves another extremely powerful function.
When you plan, you operate with confidence rather than courage.
What is the difference between courage and confidence?
Courage is when you hope to succeed, and act in spite of the fear of the challenges before you and the possibility that you will fail.
Confidence is when you know you will succeed, regardless of what challenges confront you.
When you plan, you foresee your obstacles and address them ahead of time.
When you plan, you make the path to your success direct, thus avoiding tremendously costly detours and delays.
When you plan, you make your success visible and tangible, which gives it staying power when challenges do come your way, and this keeps you going.
When you plan, you become efficient and effective.
With a plan, you gain control over your outcome.
A reasonable plan is the best assurance you can give yourself that you will indeed realize your goals and objectives, and in an acceptable time frame.
Subsequently you give yourself the best odds of receiving the rewards you desire.
Without a plan however, you deny yourself the opportunity to influence your outcome and are left only with hope.
Which is like flying without a flight plan or leaving port without a map.
You may make it to your destination, but you have to hope you don’t run out of resources before you finally get there.
The same is true in trading, but planning out a profitable trading operation is not easy without help and guidance.
Get help planning your trading success here
Brian
P.S. You’ve invested your money and yourself in your trading business, so give yourself the best advantage you can by properly planning out your success.