Make Large Profits from Small Wins
Success in day trading is all about finding the best way to achieve substantial profits by repeatable small wins.
Finding a right trading strategy and your own trading style is a tangible step towards achieving your goals. Many times we fail to attain our large goals because we don’t pave the path with small successes.
What is a small win?
From a pragmatic, money focus perspective, a small win is the amount of money that you want to profit from a trade.
Expanding the definition to all the other aspects of our life a small win could be engaging in a positive behaviour to start the day, exercise first thing in the morning.
Why are small victories so important?
It turns out that our progress with the activities that we find to be meaningful gives us energy and it fuels our creativity. It has a tremendous impact on our trading day as it fuels our energy so we can start the day on a constructive, successful note.
Picture yourself experiencing small wins day in and day out. The mirroring effect of so many wins means that you begin to experience yourself as a winner–which in turn energizes you to further set yourself up for success.
If you want to achieve consistent small wins, your targets must be realistic – expect to be profitable in some of trades and also allow for losing trades.
Don’t be a perfectionist and expect to win all the time. Everyone experience small losses–frequent episodes of falling short but this should be acceptable and part of your system.
What the research tells us is that you cannot internalize the sense of being a winner unless you set yourself up for frequent wins.
The trading week to come may be a profitable one or it may not. If you are focused on small wins and the processes that generate profits over time, however, the coming week can always be a successful one.
And that fuels the drive for truly big wins.