I think this is perhaps one of the most important social media posts I published, way back in 2019.
The transition from one month to another provides a tremendous opportunity to pause, reflect and reorient your trading business.
And the same concept applies right now, as we transition from one year to the next.
The EXACT same concept!
The best predictor of poor performance in the coming YEAR is poor performance in the prior year COMBINED WITH lack of effort in making change.
Again, the first is no longer in your control. The past year has gone and the results are what they are.
The second is in your control though.
You CAN make changes.
If you’re willing to leave whatever comfort zone you might have settled into.
And if you’re willing to admit and accept the truth about the current state of your trading business.
Another old post:
So let’s go…
Let’s make the process as simple as possible.
You can make this a whole lot more complicated than it needs to be.
Keep it simple, so that you actually do the work.
1. Understand the current state of your trading business. Review your performance from the prior year. Or recent months if there were significant changes along the way.
2. Determine your desired level of performance. Specific and achievable, but stretching somewhere beyond your current levels.
3. And now bridge the gap between the two. Dig deeper into your performance to understand WHY you failed to achieve your desired outcome. And what needs to change to improve in the new year.
Yes, it’s high-level concept only. I’ll leave implementation and finer details to you. The fact is that how we implement this will vary from person to person. So it’s up to you to apply the discipline necessary to take your trading forward.
Understand the current state of your trading business. Determine your desired level of performance. And now bridge the gap between the two.
You’ve got this. Get out there and make the next year one to remember, for all the right reasons.