January 2014 Market Report

Hello and welcome to the year 2014! This year is going to be huge for me and over the holiday period I was planning out 2014 month by month, quarter by quarter. Why was I doing this you may ask? The reason is that I have a road map to follow step by step to reach my trading, financial and personal goals.

I encourage you all to do the same because you will have clear objectives and goals that will be achieved. What is a goal without a plan? A dream. And that is all it will be unless you start getting serious about yourself because no one else will.

Write down what you want to achieve by 31st December 2014. Make it realistic. (This is the part when you write your goal down in a diary). Yes Now. Ok we have a goal in place now. Now break down that goal into quarters, so that we have targets to hit every quarter this year (March, June, Sept, Dec). Is your goal now becoming slightly clearer and reachable?

Now we are going to look deeper at the quarter goals. What is needed to accomplish each of these? These should be the same so you just have to replicate yourself four times. I will give you time now to think about this…….

For example. Say if your goal by the end of the year is to achieve a 100% return on your account. Lets dig deeper into it. That is essentially 25% a quarter. Even deeper, 8.3% a month. Now what is needed to achieve 8.3% a month? The HOW? First you have to ask the question what style of trading will you be doing. End of day or intra-day? What reward to risk are you aiming for? 2:1 maybe.

In that case you will need to average about 4 winning trades a month of just over 2:1 reward to risk to accomplish that target.  So four trades a month can be turned into 1 trade a week. Do you have time for 1 trade a week? Or is that too much to ask…, really?

This is a simple example of how breaking down your dream into quantifiable goals and better bit size targets which can make you follow through and achieve it by the end of the year.

You don’t realise how big 2014 will be until it is over so start attacking this year now! Trust me on this one! You’ll thank me later. When a person discovers that their boundaries are just an illusion, they gain the ability to create whatever they envision.

The Flying L Trader – February the 3rd

Trade with Confidence