Boot Camp Day 5: Goal Setting

Summary

The speaker motivates and instructs the audience to take action towards their goals, particularly in trading. Emphasizing the importance of consistency, they encourage the audience to set long-term and short-term goals, and to write them down daily in a dedicated journal. Vocalizing these goals is seen as a key to overcoming embarrassment and achieving success. The speaker stresses that real commitment is shown through consistent effort and openness, and urges viewers to treat their trading journal as a tool for personal and professional growth.

Takeaways

• 😀 Setting clear, long-term goals is essential for success in trading.
• 😀 Break down your long-term goals into smaller, actionable short-term goals.
• 😀 Consistency is key—complete your goals every day, no exceptions.
• 😀 Write down your goals in a notebook to keep track of your progress.
• 😀 Vocalize your goals daily, even if you're uncomfortable or embarrassed.
• 😀 If you're embarrassed about sharing your goals, it might indicate a lack of commitment.
• 😀 Believing in your ability to achieve your goals is critical to success.
• 😀 Use a dedicated trading journal to track and reflect on your progress.
• 😀 A notebook from school can be repurposed as a trading journal if needed.
• 😀 If you are serious about trading, your goals should be non-negotiable and visible daily.
• 😀 Homework is an ongoing process—goal-setting and goal execution are daily responsibilities.

Q & A

Why does the speaker emphasize the importance of writing down goals?

The speaker emphasizes the importance of writing down goals because it provides clarity, direction, and a clear path toward achieving long-term success. Writing goals down helps reinforce commitment and accountability.

What is the significance of short-term goals in the process of achieving long-term goals?

Short-term goals act as stepping stones toward the larger, long-term objectives. By setting short-term goals, individuals can break down complex tasks into manageable steps, allowing for consistent progress and focus.

What does the speaker mean when they say 'locked in'?

When the speaker says 'locked in,' they are referring to a state of focus and commitment, where an individual is fully dedicated to achieving their goals without distraction.

How does the speaker suggest individuals handle embarrassment about sharing their goals?

The speaker suggests that if someone is embarrassed about sharing their goals, it may indicate a lack of true commitment to those goals. They argue that expressing goals confidently is crucial to achieving them.

Why does the speaker ask the audience to vocalize their goals every day?

Vocalizing goals every day helps reinforce them mentally and emotionally. By consistently saying their goals out loud, individuals strengthen their belief in the possibility of achieving them and solidify their commitment.

What is the role of a 'trading journal' according to the speaker?

A trading journal is used to track progress, document strategies, and reflect on actions taken in trading. The speaker encourages participants to use a notebook for this purpose to build a consistent habit and stay organized in their approach to trading.

What are the potential consequences if someone is too embarrassed to share their goals?

If someone is too embarrassed to share their goals, the speaker suggests that they may lack the necessary drive and dedication to succeed. This hesitation could signal that the individual is not fully committed to their ambitions.

Why does the speaker suggest using a school notebook as a trading journal?

The speaker humorously suggests repurposing a school notebook as a trading journal because many individuals likely already have unused notebooks from school. This encourages participants to start immediately without additional costs.

What does the speaker believe is the key to achieving success in trading?

The key to achieving success in trading, according to the speaker, is unwavering commitment, clear goal setting, and daily execution. The process is about consistency and ensuring that every action is aligned with long-term objectives.

What does the speaker mean by 'homework every single day'?

By 'homework every single day,' the speaker refers to the daily commitment required to stay on track with goal-setting and trading practice. This includes writing down and vocalizing goals daily to reinforce the mindset of success.