SteadyTrade hosts Kim Ann Curtin and Stephen Johnson dig deep into the psychology of trading and trading goals this week.
The trading journey is full of ups and downs. One day you’re on top of the world! The next day — or maybe the next hour — you’re down in the dumps.
It takes time to find your groove and a special blend of technical skill and mojo.
And Kim and Stephen have the best of both. They’ve come a long way in their trading and coaching careers and learned tons of valuable lessons along the way.
This week, they spill all the wisdom traders need to tune into trading goals, turn up the juice, and live their best lives.
Trading Goals: Know What Drives You
Kim says, “being driven isn’t a feeling, it’s a commitment.” Emotions come and go. And they take us on some pretty wild rides.
If we could chart our own emotions and thoughts, they might look as volatile as a penny stock chart with positive and negative catalysts vying for attention.
But we can’t ignore them. That only makes them stronger. If you feel like a loser, know you’re not. And understand why you feel that way.
Which trading goals are you not accomplishing? Kim and Stephen both check in with themselves regularly to make sure they’re on the right track.
As Kim says, our basic needs change over time. So you must stay disciplined and continue to learn about yourself. Never assume you know everything. That’s something many veteran traders understand from years of experience.
Find out the most important questions to ask when you feel off track in this week’s episode.
How Do You Know You’ve Made It?
It’s easy to set trading goals … but do you always know when you finally arrive? After all, every time we hit a milestone, we move the goal post.
Maybe you hit a trading goal, like a certain amount of profits, but it doesn’t make you happy … Why does our mind play tricks on us like this?
Sometimes we decide that if we achieve what someone else achieved, we’ll be happy. But that’s likely not true.
Stephen’s blunt on the topic: “Lazy people will do a little work and wonder why they’re not winning, whereas a lot of people winning will do a lot of work and worry about being lazy.”
Kim says if you don’t stop to congratulate yourself and express gratitude, your path to success won’t feel successful. Sometimes high achievers don’t realize how well they’re doing.
So what’s the key to meeting your trading goals and having success and happiness? Check out what Kim and Stephen recommend in this week’s episode.
Be Successful Enough to Give Back
Living your best life is a big goal. And it’s definitely worth pursuing … but is it enough?
Sometimes we stay on the hamster wheel longer than we should. We think that the more we accomplish, the better. But how true is that?
Everyone’s driven by different things. Stephen felt driven by adversity. He saw what he didn’t have.
Stephen says he was tired of doing the same job every day and feeling unfulfilled.
But he was unstructured and uncommitted until the pain became too much. Then adversity fuelled his drive.
When he started making sure his needs were met, he discovered other needs he hadn’t imagined.
He says, “Achievement puts gas in your tank. Then you start giving back and meeting needs you didn’t think you could.”
Find out the steps he took to get there in this week’s episode!
What Do You Think?
How do you set trading goals — and how do you know when you’re on the right track? What makes you feel proud and grateful?
We’d love to hear what you think, so drop a comment.
Remember: if we select your question or comment as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on YouTube!
Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.
Into this episode? Please leave a review on iTunes.
Meet Our SteadyTrade Hosts
Get to know Tim Bohen, Stephen Johnson, and Kim Ann Curtin here.
Follow our hosts on social media…
Tim Bohen
Twitter: @tbohen
Instagram: @tbohen
Stephen Johnson
Twitter: @Jonk87
Instagram: @stephenjonk87
Kim Ann Curtin
Twitter: @kimanncurtin
Instagram: @kimanncurtin