1. Clearly defined and realistic goal in financial terms.
- Specific
- Measurable
- Attainable
- Realistic
- Time Bound

2. Follow your trading plan
- Plan your trade and trade your plan.

3. Attainable and measurable trading goal.
- e.g At least 3 trades per month

4. Risk management.
- e.g If hit any stop loss, I promise to exit ½ or entire position.

Trader should break down the goal into manageable limits in terms of dollar value and time. For instances, trader can’t double the capital in a single trade or a day, but trader can double the capital in ‘x’ trades and ‘y’ months. In our example, iVSAChart Goal is to produce 5% return per month.

Goals allow trader to track win/loss ratio. Through this statistic, trader can target, revise and improve trading plan. The proper setting of goals, tracking of performance for feedback, and creation of new objectives is a fantastic use for trading journals. If trader goal pursuit feels burdensome, there’s likelihood that wrong goals been set. Ideally, trading goals should challenge and motivate trader, build and enhance skills.