Sunday, April 10, 2016

Creating Your Trading Future

You are an entrepreneur; you run your trading business.  Here are some questions that might help you focus your efforts:

*  Are you creating a future for the business or are you mostly struggling to get by in the present?  Specifically, how much time are you spending on research and development, building the tools for tomorrow's trading, and how much time are you spending watching markets and placing trades?

Are you running the business in a way that would make you want to work for yourself as an employee?  Leadership is as crucial in a one-person operation as in a large enterprise.  How effective is your leadership of your trading business?

Is your business really growing?  Are you finding more opportunity now than in the past?  Are you trading new markets and/or new strategies or are you stagnating?  Would you choose to be an investor in your own business?

Would you be proud to post your PnL and your trades every day?  Suppose a film crew was filming you and your trading: would you want that film to be released?  What would someone watching that film conclude about you?

Look yourself in the mirror and ask yourself the tough question:  

Do I really want to be spending the next five years of my career doing what I'm doing now?

If you're on the right entrepreneurial path, the answer to that question is a no-brainer.  If you're on the wrong path, the answer is difficult--but it's the first step toward defining your promising future.  That can be very exciting.

Further Reading:  Becoming the Leader You'd Want to Follow