SMART Goals Become Trading Success’s

I know, I know. They have been around for ages, and apparently there are now new buzz words being used as people are bored with term goals or SMART Goals or probably even both. And they are not the only ones that are bored of the term goals, us coaches are pretty teed off with it too. Because we have to say it so often, but no one wants to hear. In this day and age of instant gratification, people are looking for the shortcut.

There isn’t one people. It’s been around since the dawn of time, and people have been trying to avoid it since then probably. Even prehistoric man had a SMART Goal, it may have been short and sweet, but he lived by it and he must have been a success, or we wouldn’t be here now…

Coach – “What’s your Big Goal this year Mr. Prehistoric man?”
“Ugh – Stay Alive – Ugh”
“Specifically, how do you intend to stay alive this year?”
“Ugh – Hunt for food for the day. – Ugh – Chop enough wood for fire in the night. – Ugh”
“Great goal. Very Specific (Don’t get killed), also Measurable (food and wood to last the day/night), Achievable with a bit of effort, Realistic (he’s managed before) and Timely (one year). What will you use as a punishment if you don’t achieve your daily goals?”
“Ugh – Death by Sabre tooth tiger – Ugh.”
“Perfect. You commit to your plan and goal.”

Coaching

It must have been so much easier to be a coach in those days. No need for diversification, everyone pretty much had the same goal. Maybe if death was our punishment we would all get off our backsides and achieve all our goals, outcomes, objectives, desires or whatever you wish to call what it is you are or should be striving for.

Well you couldn’t quit, could you? But is it actually so different for us?

Because if you think about it, our punishment is a whole lot worse. If we don’t achieve our goals, or if we just don’t give ourselves any goals to achieve. Don’t we die a slow miserable, lonely death… Isn’t that what most of the western world is doing these days… Waiting to die, barely existing. All wrapped up in their negative emotions. Barely seeing, never mind feeling any positive emotions.

Health

And that is not over dramatic at all, why are pharmaceutical companies some of the richest companies in the world. Why is there now proof of an epidemic in America, whereby people are getting addicted to prescribed medication. And worse still, they then get cut off from the doctor with no help to beat the addiction. Leading them to either heroin or meth-amphetamine addiction.

In the UK the National Health Service reported that antidepressants cost the tax payer £780,000 per day in 2015. They have also reported an increase in prescriptions to date but have not disclosed the figures.

Isn’t that what we are seeing every day. Social anxiety, an avoidance of the outside world. What’s the term they are using now “We’re more connected than ever before – but are we feeling more alone?” …

Regrets and despair

You may be wondering how I went from goals to a slow miserable death. People are not happy, but they don’t know why.

That’s how it was for me when I was diagnosed in 2009 with depression, funny thing was I had no idea. Until the doctor read out the symptoms I thought she was joking. Some of my friends were in disbelief. “But you’re so confident” at work I was for a long time, and of course after I had a beer. Luckily for me, I had an Optical Stroke a few months after being diagnosed, which meant I couldn’t take the antidepressant drugs. Although the doctor dismissed my claims that maybe the drugs had led to my stroke. That’s where my journey started, I had to find my own way to fix me. Best thing that ever happened.

But that is what we are seeing the world over, people are on their death beds full of regret. If only I had the courage to start that business or the confidence to ask out that pretty girl at the bar. Aren’t we seeing more people than ever meeting on-line. We are losing the ability to converse in person. We won’t step out of our comfort zone…

Nature

Which is why we need goals, real goals that we are passionate about. So that we start to step out of our comfort zones, which by the way doesn’t kill us, and it does make us stronger. I know I’ve done it. And I still do it as often as I can, it all comes back to nature. Which we are a part of.

In Nature two things are happening; growing or dying. You don’t see a plant stagnate, it doesn’t get to a point and say “Oh this is comfy, I’m just going to stay here. This is my perfect height.” It can’t or all the plants around will grow and block it’s sunlight. Then guess what happens, yup you guessed it…it dies.
We are the same, we are a part of nature. We can either grow or die…

Nature growing together, in harmony. Or just making sure they can get some sun?

Specific Goals

In order to grow we need goals. We need a health goal… In 2018 I will climb Mount Kilimanjaro, I will run a half marathon, I will lose 20lbs, I will exercise for 20 mins every day. These are all great Health Goals, to be an Elite Trader you need to be healthy. This will be explained in greater detail in our course. But to put it simply, the healthier you are the greater your ability to handle stress. And it doesn’t matter how good a trader you are, at some point the market will make it very stressful for you.

Wealth Goals

You may have as your Wealth Goals, a house by the sea. Or a castle in France. Maybe its a million dollars in the bank. For some of you a passive income of $5,000 a month. New car every three years.. House in the country. An unmortgaged house with a garden. These are all great Wealth goals.

Relationship Goals

These could be to spend two hours a day with your daughter or son, maybe even both. Make every other Friday “Date Night”. Sit down together for every dinner. Spend two hours every Thursday with friends. Join a group or a class to make new friends. These are fantastic relationship goals. Won’t kill you, well not all of them.

Personal Development Goals

This could be education or working on your EQ. Going on a retreat for continued learning. An on-line course. A cookery classes. Learn to meditate. Practice Gratitude every day. The idea being that you are trying to be a better person today than you were yesterday.

Business/career goals

I want to be promoted to regional manager by Jan 2019. Or maybe you will start your business by Jan 2019. Another good goal would be to grow your Business by 3% each month for the following year. Goals.

Fun and Recreation very important often forgotten. Please don’t forget this one, or the part of you that wants fun and excitement will show itself when your trading and will make following your rules virtually impossible. Take that one from personal experience. Two vacations a year to five-star resorts. Go travelling for three months every year. Drive a sports car around a race track. Do a Tandem parachute jump. Take up rock climbing. Go to a spa for a week every year. Perfect Goals.

Need I go on. When you make plans, and start to take action, something magical happens. You suddenly meet the people that can help you achieve your goal. You make friends with like-minded people. The Universe moves to help those that help themselves.

Make sure you make these goals SMART:

Do you know it doesn’t matter what industry you are in, what kind of business you have, what sport you want to excel in. The process for success starts with a goal, a Big Goal. Any coach in any niche, has to repeat the same phrase all the time. That’s why we are as bored saying it as you are hearing it. If you don’t want to hear it, you can’t just change the word. Giving it a new buzz word won’t change the fact that you need to know where you want to go in order to get there.
So, if you want to be a successful Trader. Get your goals written out, have them laminated, read them everyday. All your goals should be imprinted on the backs of your eyes so you see them all the time, energizing your passion to achieve them. Do it now! …

If you are struggling to learn to trade consistently by yourself, then I would suggest taking a look at our Trading Room. Here you will gain access to two coaches, Andres – Director of Trading and myself Director of Trading Psychology. Where else can you learn and be coached by a Trading coach and a Trading Psychology Coach, while making pips?

To Your Consistently Profitable Trading

Callum

P.S. What did you think of this Lesson? Please share it with us in the comments below!

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Callum McLean

Co-Founder and Trading Psychologist at Special FX Academy

Trading Psychology Coach and Certified NLP Coach. It is my belief that trading is 99% Psychological. And it is by understanding and improving your psychology, that you can be a successful trader. Success is a formula that everyone can and should learn.

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