A trading purpose is why we trade. What motivates us to do it. It isn't "I want to make money." Why do you want to make money? What will it buy you? How will it make your life better? Or are you after more free time? How would you spend that free time?
Your trading purpose can also incorporate parts of your personality. I love coming up with processes and protocols. So that is part of my trading purpose: to create and follow processes based on who I am, and that change as I and my life circumstances change.
You may also want to think about how much time you want to spend on your trading. My trading purpose uses the word "efficiently" because I want to spend the least amount of time trading as possible, while still fulfilling the other requirements/desires of my purpose.
Here is my trading purpose as an example:
My purpose is to trade efficiently by creating and following processes that are based on who I am, and change as I and my life change. Generating returns that allow my family to live comfortably, while also taking up little time, leaving the afternoons for golf, fitness, or other activities, and the weekends for golf/relaxation/road trips.
Think about your trading purpose. What are the high-level reasons you trade, and then share your trading purpose if you like in the comments.
Cory Mitchell, CMT
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Cory Mitchell Trading