Day Trading Tips
Pulling the Trigger: Solutions

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Learn to use Elliott Wave in your Day Trading

Solution: Know Your Outcome

Start by writing a list of what you want, truly want over the next year: your goals, dreams, and desires -- simply write them down as you think of them. Try to have a list of at least five and up to 10 items.

DO IT NOW!

TIP: If you think simply reading through these exercises will benefit you, don't be fooled. Anyone that can't even bother to do this simple exercise, is not likely to make an effective change anytime soon.

Once you have done this, put your list in order of priority. Which item is most important? Which item is next important? Continue until all items are in order of importance.

Now, for each of the top three items, write a paragraph describing why you absolutely must attain this goal. Write from the heart. If it is important, why is it important? How will your life be enhanced? Will you or your family benefit? Whatever it is, you have good reasons for wanting to see it realized, write it down.

Next, complete the exercise by writing a list of the self-defeating habits you currently enjoy. This is not to chastise ourselves, but simply to put a bit of order into this process.

Do you drink to excess, rendering it impossible to think clearly after 7:00 PM? Do you spend far too much time over lunch, turning it into a three hour social event?

Do you play with a hobby to excess? (if a hobby takes more time than it should from your life, you should consider turning that hobby into a career). Do you sleep too much? How about watching TV? It can be a way to avoid doing things we know need to be done. Whatever you think are self-defeating habits you currently enjoy, write them down.

Put this second list in order of what you think is your worst bad habit, to the least. Perhaps nail biting can go at the end of the list, but certainly taking drugs every day would be first.

Prioritize your own list and then write a paragraph about each item, explaining why this habit simply must be discarded. Give yourself as many reasons as possible.

Now that you have your lists of things you desire, and things you don't desire, it is time to really get leverage.