Here’s the thing…

Many novice traders start trading with the impression they’ll make a fast buck.

Some others consider they’ve a “holy grail” strategy, destined to make a 50% return in a single week!

Before long, these approaches are inclined to bring you back to breakeven…

…and eventually, a loss!

Nevertheless it doesn’t end there.

Because of this, these exact same traders start attempting to find the following quick fix…

…trying to find the following “best” indicators… or this month’s “killer” trading algorithm…

The cycle begins again!

What’s happening that keeps traders on this fruitless loop?

Isn’t there a greater approach to trading that puts you on an actual path to profitability?

Well, that’s exactly what I would like to indicate you in today’s guide.

Specifically, you’ll learn:

• Why unrealistic expectations create a “cycle of loss” in trading
• How having a stable source of income can improve your trading mindset
• The importance of process-oriented goals over outcome-based goals and the three key trading goals every beginner should give attention to for long-term success

By the top of this text, you’ll have a transparent blueprint for approaching trading as a business.

One which minimizes emotional stress and maximizes your long-term success!

Sound good?

Then, let’s start!

The reality concerning the “cycle of loss” and the way it keeps your trading goals away

There’s nothing flawed with dreaming big in trading.

It’s not unattainable for trading to switch your full-time job!

Someday in the longer term, trading could make you plenty of money every month, but…

…just dreaming about it doesn’t teach you anything about reality.

It acts as a distraction and might put you right into a cycle of loss.

Let me explain…

Why unrealistic goals in trading may hurt your results

As a recent trader, you frequently translate goals into expectations…

This will result in you projecting such expectations onto the markets…

After which what happens whenever you hit that first losing streak?

That’s right, the market crushes your expectations and drills into you!…

After which what happens after a few losing streaks when the market gets into your head…?

You guessed it…

You lose confidence!

Questioning yourself, you begin on the lookout for that “holy grail” in trading, the “best” strategy yow will discover.

The ending?

Stuck in a never-ending cycle of losing or blowing up accounts…

You see, my friend…

All of it boils right down to this one thing:

Unrealistic expectations.

How expectations set you back out of your trading goals (and what are you able to do about it)

I do know what you’re pondering without delay…

“If trading won’t replace my full-time job, I should pursue something else!”

“If trading is just gambling, I’d moderately go to a casino!”

Truthfully, trading isn’t for everybody.

And for some traders, they grow to appreciate that sooner or later of their journey.

But here’s one thing it’s best to hear before packing it in…

Trading is a business and never a job

There may be financial security in having a job.

Nevertheless, expecting that type of stability in trading is a nasty idea.

Why?

Because, in point of fact, starting trading is more like growing a business.

And just like every other business, there could also be months and even years before you see any results!

So, how do you have to approach trading as a beginner?

What are the appropriate trading goals to take towards consistent profitability?

Well…

Reduce your expectations in trading!

In the event you can, remove all of them.

And yes, I understand it’s easier said than done!

But there’s an incredible method to help reduce the pain right from the start…

Have a stable source of income

You is perhaps a student planning to trade using your allowance, or an worker making a daily wage…

But when starting your trading business, a stable income is usually a massive source of comfort.

It actually removes pressure when trading!

Importantly, it also allows you to be receptive to learning, which is strictly where it’s essential be.

Now, I do know I shared a giant image showing how rewarding a business will be – it would look loads more exciting than a job!

Nevertheless, constructing security first is a very important safety net, just in case things don’t work out at first.

It is advisable accept that to start with, there’s plenty of uncertainty in any business.

Only by having a stable source of income (regardless of how big or small) are you able to reduce that risk of uncertainty.

Does that make sense?

Then let’s make a plan!

Trading goals that propel you towards profitable trading

So…

What trading goals do you have to give attention to at first?

Trading goals #1: Explore different sorts of trading methods on the market

At this point, it’s best to not be live trading yet.

Get a demo account, but treat it as if it were really your personal money on the road.

It’s time to achieve some perspective on trading…

…watch how other people trade…

…and explore other ways to benefit from the markets!

There are trading methodologies equivalent to Trend following…

Swing trading…

Or momentum trading…

While I won’t find a way to debate them intimately on this guide, try these articles to learn more:

Trend Following Trading Strategy Guide

The NO BS Guide to Swing Trading

The Essential Guide to Momentum Trading

So essentially, your first goal in trading is to step back and study other ways to benefit from the markets…

…to know what works and what doesn’t give you the results you want!

Great confidence in trading only happens after you begin feeling comfortable in what you’re doing.

Remember it.

Trading goals #2: Develop and test a trading plan

At this point, things will start falling into place.

The prior goal was to immerse yourself and gain some perspectives on trading.

This next goal is all about developing an approach that is really yours!

And here’s a vital tip for fulfillment…

…it’s best to attempt to model someone successful.

You don’t need to waste time reinventing the wheel!

As an alternative, work on improving an already tried and tested approach, adapting it to develop into your personal.

Remember, you should reduce the “trial and error” by modeling someone profitable or successful in trading.

Need a successful day trader within the stock markets?

You possibly can try Humbled Trader (Shay) here.

How a few successful day trader within the forex markets?

Why, you’ve Darek Dargo, who you’ll be able to try here.

A successful price motion trader across different markets?

There’s Rayner Teo here!

And, in fact, it doesn’t stop there – there are a wealth of successful traders on the market.

But the underside line is that this…

Select a trading style that resonates with you essentially the most, then learn from someone with a proven track record within the markets.

Trading goals #3: Start live trading

Once you’ve all the things in place, equivalent to a well-written trading plan, it’s time to start live trading!

It’s necessary to recollect – you should start small.

Why?

Because even whenever you finally have a technique that works, it doesn’t mean you’ve the arrogance to trade it together with your hard-earned money.

This difference is why many traders can get returns on demo trading, but once they begin trading live…

…all of it goes out the window!

By starting small in live trading, you match your confidence level (small).

It also puts you in a mindset where you’re less pressured to perform.

By becoming less attached to your money, you’ll be able to develop into more focused on executing your strategy accurately.

Just once you begin seeing positive results do you have to add more funds.

Because, in that case, you’re betting on something that works!

Now, don’t forget…

The goals listed listed here are just the bare minimum.

But there’s enough here to make sure your learning curve shall be shortened – less pain and fewer of a barrier to entry into the market.

Mainly…

While these trading goals are designed to assist you construct a sustainable trading business, they’re simply the primary chapter of your trading journey!

As you achieve these goals one after the other, there’ll come a time whenever you will begin to outgrow them.

You’ll be able to take things to the following level at that stage!

It’s one more beautiful aspect of every trader’s journey to success.

Conclusion

I made this guide as snappy as I could to be sure that you may check with it anytime.

Use it as a blueprint to avoid wasting you money and time in the long term, reducing how long you spend on trial and error!

To wrap up, here’s what you’ve learned today…

• The “cycle of loss” in trading as a beginner happens whenever you project your expectations onto the markets
• One method to reduce attachment to expectations in trading is to have a stable source of income, putting you in a mindset to learn
• A few of the very best trading goals to start out with are process-oriented, equivalent to constructing a trading plan

Each trader finally ends up taking their very own approach.

Your journey could also be different from others!

The goals you select may align closely with those I discussed, but there’s at all times scope for individual approaches, too.

On that note, what are some trading goals you think that might be added to this list?

Have you ever already tried a few of them previously?

Were you successful – and what elements did you learn essentially the most from?

Let me know within the comments below!