We’re at the end of the year 2013, about to enter the new year, 2014. Have you evaluated your trading strategies from this year? Have you found mistakes
and accomplishments? What’s your trading objective for the coming year? How do you set your goals?
When I entered my education on options behavior I was pleased to learn the structure of goal-setting. It is identical to the organization of goal-setting
that I had learned in my job with a Fortune 500 company. The process name is S.M.A.R.T., a mnemonic, giving criteria to the setting of objectives. The
letters conform to the words specific, measurable, attainable, relevant and time-bound. If I take time to set my annual goal according to these letters,
and refer to the written goal during the year, I can follow my trading efforts toward the goal.
Let’s break down the word SMART and see what it would take to structure the trading goal.