One of the most widely read TraderFeed posts of the past few years covered the topic of FIGS: Focused, Intense Goal Setting. Often times, the goals we set are nothing more than good intentions. New Year's resolutions are a notorious example. How can we become better at achieving the goals we have already set?
As the previous post emphasized, when we focus our attention on a smaller number of priorities and work consistently and intensely on those priorities, we are more likely to make progress than if we have a laundry list of changes to make and work on those as the need/desire arises. So, for example, if we want to get in good physical shape, setting aside daily time with gym equipment and running is a great start. That time we spend lifting weights, stretching and running should challenge us, which means we always handle more when a certain level of effort becomes routine. If our pursuit of goals is not focused, frequent, and intense, we are unlikely to maintain a consistent growth path.
We are more likely to succeed if our goals become our commitments. When I was working at a well-known hedge fund, the founder once commented, “If it's not on your calendar, it's not part of your process.” This certainly applies to our trading processes: searching for ideas, turning ideas into trades, monitoring the markets, and managing risk/reward. This also applies to any of our purposeful activities, including the personal goals we set.
When we commit to pursuing goals on our daily calendar and set aside dedicated time to make efforts to improve, we experience our desired future every day.. Ayn Rand once said: “Everyone who fights for the future lives in it today.” Struggling for the future every day means that we are constantly experiencing a part of our future, making it an essential part of ourselves. What begins as an emotion and desire is expressed through regular effort and develops into a positive habit.
Imagine that you had one hour every day to achieve one goal that would greatly benefit your trading, health, mindset, or relationships. Imagine that this is the first item to add to your calendar; Routine work and household tasks should fit into your one main goal. Every day, without fail, you will use part of your day to be your own performance coach and bring your true self closer to your ideal self. This way, you will spend a small part of each day living in your future.
This is more likely to happen if we have very specific goals to achieve our goals. If we want to lose weight, we want to set a challenging but doable goal. If we are looking to improve our trading, we need to keep statistics so we can really see our progress: number of winning/losing trades, average sizes of winners/losers, overall profitability, etc. If we are making improvements in our relationships, we want to intentionally do more of the things that bring closeness, happiness, and fulfillment to our partners and to us.
Mental illness is when we live in the past every day. Mundane life is when we live life simply one day at a time. Greatness is when we live a consistent part of each day into the future we design and build.
What future do you want to build? How can you immerse yourself in this future today?
In-depth reading:
Cardinal Virtue Trading
A blueprint for an uncompromising life
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