Time flies fast like a one-way train that is always moving straight to the future. Recently, we welcomed the year 2020 with the hope that the world would overcome the Covid-19 pandemic. Now is the end of 2020, people need to summarize what they have done and what has not been done when trading in Olymp Trade. Since then, we plan for the future (2021) with specific goals to strive to become a successful trader.
I am a trader in Olymp Trade, is there anything to summarize? Yes, sure! That is whether I have fulfilled the profit targets I set out for a year. That is what needs to change in the future to make the trading system even more efficient.
In this article, I will summarize the trading journey of 2020, giving directions for the year 2021. You can refer and set for yourself what to do in the coming year.
2020 year-end summary when trading in Olymp Trade
My profit from trading in Olymp Trade is below 1 million USD (100% sure). You can calculate the specific number through the strategy review articles on this blog. It makes me really happy with this part-time job (trading) and I feel it is worth it. Don’t think that trading success is making a lot of profits. In trading, stability is what everyone uses to judge a good investor.
I am still a believer in the T.L.S trading strategy regardless of the market. I still use it to make money in the Forex market (for others, I just reviewed them so you can see the pros and cons of each different strategy). It’s made up of the basics, so whether it’s 10 years, 100 years, or beyond, etc. it’s still effective at any time. If you want to know more about it (T.L.S), you can click on the following articles:
Don’t worry about the present and the future
I read through the newspaper. Entertainment news: scandals about showmen and singers. Social news: food poisoning news. International news: people die in country A or country B is at war. Sport news: match-fixing news. Economics news: inflation and trade deficit. Weather news: floods, storm surges, droughts, upcoming typhoons, incoming storms, etc. In general, every morning waking up, by a cup of coffee, people read through newspapers and start to worry.
There are very real worries as well as nonsense worries. That negative feeling follows them all day long, leading to less working efficiency. It is because “when one is sad, no sight is cheerful”.
For the same losing trade, negative traders will blame themselves for losing money while positive traders smile at it and consider it as tuition fees. They record the mistakes that cause them to lose money so they won’t repeat them. When we cannot change an event, it is best to see it with a positive view. No investor can avoid mistakes in trading. Instead of holding on to anger, let it go and you will feel a lot more comfortable.
Accept things optimistically because you can only live once. If you live 100 years, make at least ⅔ of your life a joy instead of always facing tragedy, boredom, and fatigue. If you want to be a successful trader, always move forward with optimism.
Set your own goals
Not having concrete goals is like getting lost in a deep forest without a compass. You will never know the direction to get out of the dark forest. It is the same in trading. Your goals are the most important thing to keep you on track.
Profits are the first goals you need to set as clear and specific as possible. This is because the initial reason for joining trading is also “money”. However, that thought has also caused many young investors to lose most of what they have when they let greed lead in trading.
It is best not to set profit targets too high for yourself. It will make you impatient to trade with truly unclear opportunities. The likelihood of losing money from those emotional decisions is very high. From there, it makes it difficult for you to fulfill the profit goals you have set.
For me, fulfilling your profit goals means that you have joined the few who make money in Olymp Trade. If you are still looking for a profit, don’t be discouraged by losses. They will help you get things that you can’t buy with the money in real life. That is patience. Think of the lost money as tuition for the first stage of learning. Overcoming it, profit will find a way to you.
Plan for 2021 in Olymp Trade after the 2020 final review
In the Forex market, you need to win over yourself to make a profit. To do that, you need steel discipline which is made up of a set of trading principles. Sit back and write down the bullet points for opening an order. They will help you get the most accurate transactions.
It is important to identify the obstacles you need to overcome to achieve your goal. There is always a certain limiting factor or constraint that will slow the speed at which your goals are fulfilled.
That constraint works according to the 80/20 rule. That means 80% of the reasons blocking your path to your goal come from within yourself. It is due to a lack of skills, lack of knowledge, or negative emotions. Only 20% of causes are due to external influences. Always start with yourself.
Before starting any work, draw a map that shows all the paths to success. Then, you will know what you should do and what you have to do to get there. Like a woodcutter, before cutting wood, it is best to take the time to sharpen the ax. Best preparing the things you need will help you shorten the process.
One last word
Achieving profit goals in Olymp Trade is a difficult challenge that very few traders can achieve. You need to hard learn and cultivate trading knowledge daily and maintain them.
The year-end summary in Olymp Trade is something all traders should do. It helps you see what you have not achieved and why you cannot. Then, you can come up with things that need to be improved to be perfect in the future.
Please remember this important thing: All paths will lead to success if you persist enough to maintain and practice it every day. Wish you the new year with many new victories.