Milestones

Often times, trading can feel like you’re going in circles. One step forward and two steps back. I mean, how often have you heard phrases like, “a loss is not a bad thing.” Uhh, they are when you blow up your account RIGHT?

So how do you know when you’re going in the right direction?

The trick is to not measure yourself solely by monetary checkpoints.  

 

Here’s a list of milestones that I personally used to track my progress.

  • Came up with your own trading plan. (You can’t even begin without this!)
  • 1 trade entered in which all criteria were perfectly met. (Ie: stock selection, technical pattern, etc.)
  • 1 trade exited at predetermined price. (Exit strategy was perfectly executed; result of trade is irrelevant)
  • 1 Profitable, planned trade is executed. (Entry and exits perfectly executed; trade yielded a profit)

 

  • 2 trades perfectly executed in a row. (Results of trades are irrelevant)
  • 3 trades perfectly executed in a row. (Results of trades are irrelevant)
  • 1 Full Day completed in which all rules were perfectly executed. (Results are irrelevant)
  • 2 Full Days completed in which all rules were perfectly executed. (Results are irrelevant)
  • 1 Full, Profitable Day is completed in which all rules were perfectly executed.

 

  • 1 Week in which all rules were perfectly executed. (Results are irrelevant)
  • 1 Profitable week is complete in which all rules were perfectly executed.
  • 1 Month in which all rules were perfectly executed. (Results are irrelevant)
  • 1 Profitable month is complete in which all rules were perfectly executed.
  • 1 Quarter (3 months) in which all rules were perfectly executed. (Results are irrelevant)
  • 1 Profitable quarter is complete in which all rules were perfectly executed.
  • 1 Profitable year.

 

  • 1st deposit into your bank account. (Market money)
  • 1st purchase with market money.
  • 1st gift to parents, husband, wife, children, or loved one with market money.