In this group therapy, we focused on goal setting and how goal setting can actually cause you to fail.
But it's a catch-22 situation.
You can't have NO goals - but you also can't let the Goals be the thing that causes you to throw your rule book away and start wildly swinging for the fences. We take a look at different types of goals traders set and why they might be problematic. We then look at how these goals can be subtly altered, to alleviate the pressure of hitting them and reducing the chance you'll revert to a trading caveman.
We discuss Goals and looming failure points (like a blown account or an almost failed trader try-out) and discuss the merits of scaling down or swinging for the fences in a number of scenarios.
Hopefully, this will help you understand how goals can impact your trading negatively and actively avoid the problems as your goals loom closer. Goals are good - but they can cause traders to go off the rails. Stay on the rails, with the help of this video.
We also discussed the group therapy sessions and what traders would like to see from them in the future.