It’s that time again…
Pay for a full year of gym membership upfront… because, you know… this year will be different.
And one month later… you’re over it.
We are all guilty of it, but this year I’ve got the solution for you.
You see, I wouldn’t trade without a system… so why would I try to accomplish my goals without one?
That’s why I use SMART goal setting when planning and accomplishing my goals. And I am going to set you up with the details.
But first a recap… In the last 6 months of the year, I absolutely crushed the market.
I started my last small account challenge on Nov 11 to create a debt free holiday… starting with just $3k, my account is currently sitting at $15,555. That’s over 400% in less than 2 months.
It’s not over though… I will officially close it out the challenge on Jan 11 in order to start a new one as part of my 2020 plan…
And to give you the chance to get in from the beginning, I will be hosting a live webinar on Jan 7th to recap 2019 and show you exactly how I plan to make 2020 even better… goals and all… register for this live event right here.
Now to get you prepped for the year… here’s my system for accomplishing goals in 2020 and beyond.
Simply put goal setting is the process of identifying something you want (the goal) and creating a plan to achieve it.
When setting your goals, you don’t want to have so many that you end up accomplishing nothing. This is why I like to keep it to 1-2 main goals, so I don’t end up scattered or overwhelmed.
A major key to accomplishing your goals is to write them down. The brain is a magnificent thing… and by using all of it you benefit from the power within.
For instance… your brain has both a creative and a logical side. When you think about your goal, you are using the creative side… and when you write it down, you are using your logical side.
So instead of just thinking and dreaming… by writing your goals down, you add the power to accomplish it by seeing it and creating a logical plan of action…
Next make sure your goal is achievable… again if it’s too lofty you will get overwhelmed and make no progress or simply give up…
And lastly… it’s a good idea to have a plan for roadblocks. You will inevitably hit some, so use that creative side to think about them ahead of time and created a plan to overcome them.
Now let’s look at the smartest way to accomplish your goals… just like trading stocks… having a reliable system provides repeatable results.
How to Set SMART Goals
The “SMART” in SMART goal setting is really just an acronym that stands for specific, measurable, achievable, relevant, and time-specific.
So what does this all mean and how can it help you?
Break your goals down as much as possible… saying you want to make more money isn’t gonna help much when finding the steps to get there.
But if your goal is to make an extra 10k, now you can make a plan of action.
How do you know when you reach your goal, or if you are on the right track?
Break it down into times, dates, and amounts that can be measured along the way as you work towards the end goal.
Using the 10k example… you need a way to measure your progress along the way. Break it down into smaller pieces…
10K in a year works out to $833 per month and $192 a week. Now you can assess your progress and stay motivated and excited as you reach each milestone.
If there is no way to possibly reach your goal, this whole process is pointless.
Ask yourself if it’s realistic, what skills and tools do you need, and do you have them… stretch yourself a little to grow, but not too much to where it’s impossible to reach.
You want to make an extra 10k this year. Why?
Maybe you want to make an extra 10K for tuition, a new car, to pay off debt, or to amp up your retirement savings…
Your goals need to fit your overall plan or it will be hard to find the time and purpose for them.
You need to have a timeline. If your goal is to make an extra 10k, but you have no time frame to do it in… you will have no motivation to take the necessary steps.
It can be a year, six months, 3 months, whatever… but it’s crucial to have a timeframe as this allows you to stay motivated and keep pushing forward in order to actually get it accomplished.
If you follow this system for setting SMART goals… I have no doubt you will accomplish great things.
I like to have a goal for each area of my life… including trading.
And with the year ending so well, I am going into 2020 on a high note and I plan to push my trading to the next level…
On January 7th I will be hosting a live webinar… training, lives trade calls, and most importantly… I will be laying out my plan for 2020.
This is going to be a monster year, so don’t miss this one.