I believe an essential ingredient to becoming a successful trader is to be highly organised and always have objectives.
Since I started trading my aim has been to increase the size of my 'trading bank' by 40% each month. If I'm successful I'll continue to trade up to a bank of £10,000 before making any withdrawals for personal use. This is a big objective and I'm fully aware of how hard this challlenge will be but so far so good and the aims I started with on the 1st September are shown below:
Starting bank on 1st September = £250
By 1st October = £350
By 1st November = £490
By 1st December = £686
By 1st January = £960
I suffered from computer failure in November and was unable to trade for 3 weeks. Due to this I decided to re-forecast my aims at the beginning of December for the following 4 months:
Starting bank on 1st December = £455
By 1st January = £637
By 1st February = £892
By 1st March = £1249
By 1st April = £1748
I ended up over-achieving in December due to having extra time to trade and on the 1st January my trading bank stood at £830 (an increase of 232% over the last 4 months and £193 ahead of my forecast).
I'm very happy with this progress so in a bid to not over-reach myself, my target profits for the next 3 months will remain as:
During January = £255 (£892 - £637)
During February = £357 (£1249 - £892)
During March = £499 (£1748 - £1249)
If I can stick to these figures my trading bank will stand at £1941 on the 1st April and I'll be well on my way to making 2007 a year to remember.
I wanted to share my thoughts on this with you as I have a habit of getting ahead of myself...if you think I'm looking too far ahead then please shout at me in the comments section!
My next trading activity will be on Saturday & Sunday.
This article is written by Ian Taylor who is a full-time writer and
hobbyist football trader. His views are his own. Warning: This Content Is
Only Suitable...
3 comments:
Just found this posting Mark. I'm enjoying the blog.
Just wanted to say, it's tempting to look ahead and most definitely enjoyable when things are going well... But in my experience (and this may only apply to me) its best to think about the here and now and just work away at it making sure you do the right things in each market. The profit and loss will take care of itself, and if you do that - then you'll end up with more than you could have imagined.
Keep at it, well done. Big things are possible from small beginnings.
Matt
www.Punt.com
Dear Mr.Mark,
Firstly I want to congrats you for the results you've achieved so far.
I found your precious blog just now, and I start to read it from the begining (haven't finished yet).
By reading your posts,i really really impressed by the records. I can't believe someone could treat a betting things like this. Therefore, do you mind if I ask you for being my tutor? I want to be a professional sporst trader like you mister. I never get inspired like this before, in the other side I also realize it wouldn't easy becoming a professional sports trader like you (so far i could imagine, it's out of my reached). But i'll never know until i try.
Today, i promise to you and myself, i'll start to learn how to be a professional sports trader.
Once again, thank you very much for your inspiring blog (i'll soon start my own,so you can check and critic my work).
Lou
*(sorry for my bad english, i used to speak indonesian)
Hi Lou,
I've just found your comment - I hope things are going well.
All the best.
Mark
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