All hands, hear this: The Disorganized Crime series returns with Part III Chapter 2, the much anticipated sequel to the past week’s crime drama, Part III Chapter 1. If you missed Chapter 1 and need a recap, click here. If you’ve been sleeping for the past three months and want a refresher on Part I and II, head over to the Archives section of the Pipsychology blog (down the page and on your left.
Chapter 1 was spent discussing the first two steps of conducting a weekly/monthly personal review: (1)keeping a track record of our trades, and (2) performing a periodic review of our trading performance.
We continue this week with the four remaining steps. Enjoy! I command it.
- Conduct a weekly/monthly personal review
- Review your educational goals – I know you’ve set some goals regarding your educational training. If not, get to work, today! Maybe your goal is to read a Forex book every two weeks or become an expert on candlestick identification. What ever your goals, hopefully you’re meeting them. But it’s always a good idea to keep things moving. There’s always something to learn when it comes to the Forex market, but getting a plan or strategy together and down on paper will help not only to create direction for you, but it will keep you focused on what needs to get done. You’re educational goals are paramount to your success in the currency market.
- Financial goals - It’s time to put down on paper what your financial goals and expectations are for trading the Forex market. Do you want your earnings to be your sole source of income? Are you just looking for supplemental income? Do you expect to become a thousandaire through your trading? Any one of those goals is awesome and attainable! Just put it down on something and hang it up. I like taping my goals to my bathroom mirror so I read them every morning. And you want to read your goals often. That way, your goals will always be fresh in your mind, making it easier for you to take the necessary baby steps toward fulfilling that goal. Writing your goals down also helps you recognize whether your goals are realistic or whether they’re totally out in space somewhere.
- Strengths and weaknesses – This is an easy one, usually. Make a list of your strengths and weaknesses when it comes to trading. You’re a home run hitter when it comes to research and reading all things Forex. But you strike out making sense of it all. Maybe you’ve got your entry points down, but you have no idea when to exit a trade. Are you lacking the power to actually place a trade because of fear or anxiety? This list is meant to identify the areas that need developing and the areas that are working well for you. With that information, you can now reposition your time and commitment towards the problem areas.
- Invest in personal development - You’ve read everything Forex you could possibly get your hands, from books, to self-help guides, to Dr. FixITAllForFreeIn5Minutes’ guide to Winning Big in Forex. You’ve exhausted your viewing of online video training and even contributed to several forums. But still, no progress. It could be time to consider that something outside of the Forex world is leading to your lack of progress. Are you a procrastinator or lazy? Are you too hard on yourself when a trade goes bad? Do you lack confidence in your abilities? Maybe you have problems developing self discipline, which is transferring into your trading? Whatever it is, you have to identify it and work to overcome it! Self-help and personal development resources (books, tapes, CD’s and professionals) are all over the place. Try one out!
Join us next week for the final installment in the Disorganized Crime series, Part III Chapter 3. We’ll be coveringa another task-oriented checklist and some other tips to get you on your way to organization and productivity. See you back soon!