Boot Camp Day 5: Goal Setting

Summary

In this Day 5 session of TJR's Boot Camp, the focus shifts to the critical skill of goal setting, a fundamental aspect often overlooked in the trading world. TJR emphasizes the importance of not just having trading skills but combining them with a robust psychological framework. The session introduces the concept of setting long-term goals alongside actionable short-term steps to bridge the gap between dreams and reality. TJR shares insightful techniques to solidify these goals, encouraging participants to vocalize and treat them as present truths, thereby embedding them in their subconscious to fuel motivation and drive.

Highlights

• TJR highlights the role of psychology in trading and sets the foundation for a 'disciplined mindset.' 🧠
• The boot camp session reveals a structured approach to goal setting, borrowed from a sports program. 🏀
• Participants are encouraged to set aspirational 10-year goals. 🎯
• Emphasis on writing down 10 short-term actions per long-term goal. 📝
• Daily vocalization of goals is suggested to ingrains them in the participant's mindset. 🔊
• TJR shares personal anecdotes to illustrate the power of goal setting in his trading career and life. 🌐
• A call to action is given to create a trading journal to track these goals and strategies. 📘

Key Takeaways

• Goal setting is crucial for success in trading and life. 📈
• Set three long-term goals you'll strive to achieve in the next 10 years. 🌟
• Break down each long-term goal into 10 actionable short-term steps. 📋
• Vocalize and read your goals daily to internalize them. 📢
• Create a dedicated notebook for your goals, keeping them visible and tangible. 📓

Overview

TJR kicks off Day 5 of his Boot Camp by reminding us about the significance of psychology in trading, emphasizing that success is not just about mastering techniques but also having a disciplined mindset. This session, titled 'Goal Setting,' is all about strategizing for success by setting clear and tangible goals.

In a laid-back but powerful manner, TJR shares his method for goal setting—an approach he learned from a basketball program. He explains the importance of not only setting long-term goals but also breaking them down into short-term, achievable steps. By doing so, he argues, one can track progress and stay motivated, ensuring that these large ambitions do not remain mere fantasies.

To solidify these techniques, TJR encourages participants to vocalize their goals daily, framing them as current achievements rather than distant hopes. This, he believes, will embed the goals in the subconscious, aiding in internal motivation. Participants are also advised to maintain a dedicated notebook for writing these goals down—turning them into a tangible roadmap to success.

Chapters

• 00:00 - 00:30: Introduction The chapter titled 'Introduction' welcomes participants to a boot camp focused on discipline and psychology in trading. The host mentions it's day five of the boot camp and emphasizes the importance of understanding the psychological aspects of trading alongside the technical skills. This approach is essential as many online mentors and influencers highlight the significance of psychology in successful trading.
• 00:30 - 01:00: Trading Psychology and its Importance The chapter emphasizes the substantial role psychology plays in trading, noting that many courses inadequately cover this aspect. The course aims to set participants in the right mindset for disciplined trading, helping them to avoid common pitfalls by focusing on psychological preparation as a key component.
• 01:00 - 01:30: Goal Setting Introduction and Importance The chapter introduces the topic of goal setting, building on previous discussions about taking action and discipline. It highlights the importance of goal setting as a key factor in achieving desired outcomes. The author mentions that they will share a specific goal setting method they have studied, although they cannot recall the original source of this method. The chapter aims to equip readers with techniques to set and reach their goals effectively.
• 01:30 - 02:00: Personal Experience with Goal Setting In this chapter, the author shares their personal experience with goal setting, which they learned through a basketball program. During their time deeply interested in basketball and self-improvement, they encountered the concept of psychology in sports, referred to as 'The X Factor.' This is compared to trading, where some can excel in practice but struggle in real situations, similar to 'practice players' in basketball.
• 02:00 - 03:00: Setting Long-term Goals This chapter discusses the importance of setting long-term goals and overcoming the initial challenges one might face when trying to achieve them. It emphasizes that individuals often struggle to execute their plans at the beginning. The course aims to provide that 'X Factor' to help learners focus on and pursue their goals effectively. It begins with foundational steps on how to set these goals.
• 03:00 - 04:00: Short-term Goals as Steps to Long-term Success This chapter discusses the importance of breaking down long-term goals into short-term, actionable steps. It emphasizes the need for a structured plan to progress towards and ultimately achieve these larger objectives. The key point is to turn goals from abstract ideas into concrete actions that can be realistically pursued.
• 04:00 - 06:00: Implementing and Reviewing Goals Daily The chapter emphasizes the importance of having a notebook to record goals and encourages writing down three long-term goals as a crucial step in goal setting and tracking. It aims to instill a habit of regularly documenting and reviewing goals to achieve better focus and success in personal or professional pursuits.
• 06:00 - 07:00: Importance of Vocalizing Goals This chapter discusses the significance of vocalizing one's goals, particularly focusing on the realm of trading. It stresses the importance of setting long-term objectives, suggesting that traders aim for targets like managing six-figure accounts. The chapter encourages readers to articulate and define their long-term aspirations clearly, planning for several years ahead.
• 07:00 - 08:30: Encouragement and Motivation The chapter on 'Encouragement and Motivation' revolves around the idea of aiming for long-term goals, particularly in relation to financial aspirations. The discussion includes the ambition of having a six or seven-figure trading account, and consistently making a significant profit over time. It emphasizes the importance of understanding these goals and striving towards them, even if they currently seem out of reach. The encouragement is about imagining future success and consistently working towards making dreams like owning a seven-figure account a reality.
• 08:30 - 09:30: Conclusion and Homework The chapter emphasizes the importance of setting long-term goals, not just in trading but in life in general. It encourages thinking beyond immediate achievements, focusing on what truly matters to individuals. The chapter concludes with a reflection on the idea that some goals may seem unreachable, but they are essential for personal growth and motivation. It's an invitation to dream big and set end goals that one can aspire to achieve, even if the path to them isn't clear yet.

Boot Camp Day 5: Goal Setting Transcription

• 00:00 - 00:30 what's good guys welcome to boot camp I honestly I I gotta stop saying this because I know I'm just going to end up forgetting what day we're on I think this is day five though but welcome to boot camp day five we're back again with another discipline psychology type of video as you guys know we're going back and forth between the trading and psychology because there's no point in just teaching you just the trading aspects if you don't understand the psychology behind it especially if all these mentors and all these people on YouTube and on social media are saying
• 00:30 - 01:00 that psychology makes up the majority of trading um and their courses only cover one little section of it okay um and the rest of it is all about trading so that's what we're doing different here okay so hopefully we guys we can get you guys in the right mindset um so when you start trading and start learning right and actually understanding how to trade correctly you're not following it falling into these pitfalls that all these people fall into because you have a disciplined mindset because your psychology is on on
• 01:00 - 01:30 point okay so hopefully that can accelerate your guys's learning curve um a lot faster than what mine was at the time okay so today we are going to be talking about goal setting okay we've talked about taking action we've talked about discipline okay today we are going to be talking about goal setting and how we can actually set goals um and actually reach our goals through an actual like goal setting method that I've studied um I forget who the you know like person that what uh like taught this to me was
• 01:30 - 02:00 um but I learned it through a basketball program okay and back in the day I was I was really really obsessed with basketball um and improving myself and one of the things in basketball along with trading is psychology and in in the thing they called it The X Factor because you know there are some people who are known as practice players right and you guys might be like this right you're you're a demo Trader right you you can only seem to win trades on demo but then right
• 02:00 - 02:30 when you go to live right when you get in the game you cannot execute and you're probably thinking what's wrong with me um so hopefully this course can give you that X Factor um hopefully this can help you you know start you know looking towards some goals that you want to achieve um and you know getting after it okay so we're gonna start off with how to set our goals because this is sorry the little strings were all messed
• 02:30 - 03:00 up on here but we're going to talk about how we can set up our goals to actually fulfill them um and not just have them forever just be like this is my goal but I have no clue how to get here okay there's an actual process and a situation um in like a a plan to reach your goals okay so the first thing that we need to do is we need to have our three this thing will load we need to find three long term end
• 03:00 - 03:30 goals okay and again remember I told you guys get a notebook if you haven't got one already now is the [ __ ] time because we need to start writing these down Okay so in your notebook hopefully you guys have your notebooks ready um hopefully you guys have been taking notes throughout this entire thing but whoa um write down three long-term end goals okay so this can be this can be something as simple as
• 03:30 - 04:00 becoming a funded Trader right that's that's kind of like a midi medium term goal okay I want these to be long term like 10 years down the line type of goals okay so maybe that's um saying I I manage um six figures um in my trading account or um whether that be you know I'm um you know figure out what what your three long-term end goals be are going
• 04:00 - 04:30 to be okay and make this be like you know super long term when you're grown okay years down the line right something that you don't necessarily understand how to get to those goals okay so whether it be um you know having six figures in your trading account um making six figures in profit a month um so you know maybe you have more than six figures in your trading account maybe you have a seven figure trading account maybe that's a long tournament long-term end goal uh maybe one of your long-term end goals is literally to buy
• 04:30 - 05:00 a 10 million dollar house right this doesn't all have to be applicable to trading right this is just life goals okay we need we need we need to understand that goal setting okay and actually going after our goals it doesn't always have to be about trading and that's kind of what I I want to put into this right this is this should teach you things about life as well okay so three long-term end goals that you have no idea how you're going to reach but you know you want them okay one of them could literally just be like I want
• 05:00 - 05:30 a [ __ ] Lambo I know I wrote that down I don't want one anymore um because living situations have changed right um I I mean maybe I get one eventually but it's hard for me to fit in them okay um I didn't know I was going to be this [ __ ] tall when I was writing those those goals down like sophomore year of high school but write down your three long-term end goals okay and then from there this is where we can get into this [ __ ] where is it then we are going to write down oops
• 05:30 - 06:00 oh I almost just killed a fly so close I used to be so good at killing flies Okay so after that once you write down your three long-term end goals you're going to write down 10 short term goals or okay or just steps to get to those and goals okay because most the time people are like what's my goal I want to be you
• 06:00 - 06:30 know what what's what's your what's your New Year's resolution and this is why people never never complete their New Year's resolutions people say I want six-pack abs I want this I want that and then they're like well where the [ __ ] do I start you know so so by doing this we can set three long-term end goals and then we have ten short-term goals okay for each one okay so make sure it's 10 for each of those three so you should have 30 short-term goals or steps per
• 06:30 - 07:00 long-term end goal okay um to to reach those long-term goals okay so what can this be okay this can be as simple as right if one of them is if one of them is for trading okay it can be as simple as I I follow my trading plan every single day that's a goal in itself that means every single day you have to hit that goal by doing what by following your trading plan that's super easy this is a very short-term goal okay
• 07:00 - 07:30 what else are what else can you put on there if it's a if you're one of your long-term goals is trading related with which most of you guys at least one of them should be in fact I advise one of them to be trading related okay because this is like kind of what we're focusing on here okay so right one of them can be boom I follow my trading plan every single day the other one can be I use risk management every single day okay um another one can be
• 07:30 - 08:00 I I Journal my trades and I review what I did right what I did wrong every single day right get 10 short-term goals or steps that will as you do them every single day put you on track to reach those long-term goals that's where people go wrong a lot of the times with goal setting guys they they have like these crazy end goals for their future and they never end up hitting them because they have no idea where to start so let's instead of you know just
• 08:00 - 08:30 setting these long-term future end goals right and just having no clue where to go let's let's literally lay out the path let's Google Maps this [ __ ] right let's let's lay out all the steps that we have to complete day in and day out to reach those goals and then sooner or later if you can keep completing those short-term goals keep getting one percent better every single day by completing those steps by completing those goals day in and day out those long-term goals will be hit instantly right what what if one of your long-term goals is to be funded
• 08:30 - 09:00 right I know damn well that if you complete all your short-term goals and steps like day in and day out within a couple months right you'll be [ __ ] funded and getting paid out but if you just sit there and say my goal is to be a funded Trader and then you go in [ __ ] full port everything and you don't actually take steps or have a direction of where you want to go right that's just like that's just like I want to be a millionaire
• 09:00 - 09:30 but I don't know how to [ __ ] do it right like we need we need steps to lead us in the right direction so right we need to put those down okay next okay we need to make sure you actually damn bro this fly's bugging me oh dude
• 09:30 - 10:00 okay so in order to actually [ __ ] damn this is looking like a solid ass pyramid hey [Music] okay so make sure you actually complete your
• 10:00 - 10:30 goals daily or take steps in the direction of the short-term goals those 10 short-term goal short-term goals don't necessarily have to be just like doing one thing every single day they can be they can be I am profitable for the month right because that's not necessarily a long-term goal that's a short-term term goal that could be hit or it can be I am profitable on the week right that's a great place to start how can you turn profitable in a week right by following little baby steps that
• 10:30 - 11:00 those those little baby steps you can keep in your mind but at least with these short-term goals right if you if you can be profitable for the week and then you can be profitable for a month how easy is it going to be to keep climbing up those ranks to end up getting to those long-term goals it's going to be so [ __ ] easy because you have the path laid out right in front of you so write this [ __ ] down remember in that in that Tick Tock video where I had all my goals written out
• 11:00 - 11:30 bro literally every single one of those goals got [ __ ] smashed got demolished by what I'm by where I'm at now and it was because of this because I understood that those long-term goals aren't going to be hit instantly we know that it's going to take time and what did I do to understand that it's going to take time I I literally laid it out for myself I said this is what I have to do in order to get to those long-term goals I set myself up instead of taking [ __ ] massive it's like climbing a
• 11:30 - 12:00 mountain right there's no elevator to the top bro you got to take [ __ ] steps and steps and steps getting one percent better getting one percent higher every single day until you reach that [ __ ] top okay that's how you get there and you and you know your route up the mountain right if you just get there not even on the trailhead and you're just yeah I'm about to scale this [ __ ] right you're gonna [ __ ] give up bro bro I'm trying to get this you're gonna give up on day one right so
• 12:00 - 12:30 with that being said this is this is really all I want you guys to do for today set three long-term goals and then lay out the path to reach those goals okay and and at the end of this summer I I know damn well that you guys will be that you guys will have made serious Improvement probably not reaching those long-term goals but there you will be steps in the right direction you'll be miles in the right direction you will be heavily in the right percentage
• 12:30 - 13:00 in going in the right direction to reach those long-term goals if you follow your steps that you laid out for yourself every single day right and you actually have to make sure you do those or actually are going in the right direction okay because if you aren't then guess what someone someone's working Harder Than You someone's taking steps in the right direction because I know I know for a fact there's going to be 10 plus people that are watching these videos every damn day following every single thing that I say in here
• 13:00 - 13:30 and those are the people that are going to be come out of here the best those are the people that are going to come out of this [ __ ] profitable those are the people that are going to come out of this and just be dude like there will be nothing that can stop them there will be nothing in their [ __ ] way because they followed every single thing okay so you can literally it's up to you all of this is up to you right goals are just goals until until you actually take action until you actually complete them until they're actually reality right goals
• 13:30 - 14:00 will forever just be [ __ ] dreams right all up in your head until you actually start taking action to go towards them until you actually make them reality and now for me I know I'm going to set my long-term goals okay I know I'm I'm going to set my short-term goals to reach those long-term goals I'm going to start with you guys I'm literally right after this video gets post or not posted right right after I finish recording this video I'm going over to the store right now to buy myself a new notebook I'm writing down
• 14:00 - 14:30 my goals and guess what one of them is hitting a hundred thousand subscribers on YouTube within this year within this year I know sounds [ __ ] crazy we hit 30 000 followers today I and I appreciate every single one of you guys I'm being dead serious man like it like this social media is so fun um it's so fun yeah there's ups and downs to it but it's it's amazing and it's fun and it's great to have an audience that really loves and supports you so with that being said I know you
• 14:30 - 15:00 guys love and support me if you're watching these videos and I know my YouTube audience are really my day ones I know there's haters and [ __ ] on Tick Tock we don't get any of that over here on YouTube and that's why YouTube is my main focus right now we're even we're even on followers and subscribers on on Tick Tock and YouTube right now because my old Tick Tock got banned okay but that's one of my goals I I am determined okay to hit a hundred thousand subscribers within this year
• 15:00 - 15:30 and if I don't hit it that's fine that's fine but hey I'm going to be making damn sure that I'm taking these steps to try and get there at least I'm making an attempt right and see with this I put a deadline on it I know damn well I'm hitting a hundred thousand subscribers either way either way I'm hitting that Mark okay no matter what it's going I'm going to get there easily okay but you know it's going to take time and it's going to take one
• 15:30 - 16:00 step in the right direction every single day and guess what one of those steps is uploading a video for you guys okay so I already think I'm on I'm I'm moving in the right direction okay I know for a fact that I'm going to complete my goals every single day because without driven and motivated and disciplined I am some of you guys haven't really built that up yet and that's okay right start today start now okay let's get after it get your notebooks out okay start writing down your three long-term end goals and then write down the path that you are going to take to get to those goals and
• 16:00 - 16:30 sorry one last thing that we got to put at the end of this read and vocalize your goals every day as if you are there already this is very very important okay read and vocalize your goals several times at least five times okay out loud
• 16:30 - 17:00 every single day as if you're there already okay so what does that mean that means right whatever your long-term end goals are let's say one of them is I'm a millionaire okay or or you want to be a millionaire that's one of your goals you are going to say I am a millionaire and that is how you are going to write out your goal okay you are going to you're not going to say you're not going to write I want to be it's not it's not I want it is I
• 17:00 - 17:30 am or I will okay choose one of the two it's either I am or I will I will be a millionaire say it with confidence I will be a millionaire I will be a profitable Trader I will be a funded Trader I will be making six figures every single month and say it out loud read it five times through and say it out loud when you say it out loud you are you are owning that it's really difficult to say something
• 17:30 - 18:00 out loud that you don't personally believe in that because or else it would be a lie right yeah yeah you're sort of Lying by saying I am okay okay but it's putting you in the right headspace okay besides just saying I I want to do this I'm sure you guys have sat there and told yourself I want this I want that but then never ended up getting it right so instead let's flip it I will or I am
• 18:00 - 18:30 okay I always say I am that's what I did back when I was doing it and that's what worked for me okay so right if what if one of yours is um you want to be profitable I am a profitable Trader I am a profitable Trader I am a profitable Trader I am a profitable Trader say it over and over again until you can literally until you literally believe it yourself and then guess what drilled into your [ __ ] subconscious you have to read
• 18:30 - 19:00 that every damn day imagine reading that every single day there's there's just no way that you don't that you don't get results there's no way that you read that to yourself every single day and don't start acting like you're profitable there's no way that you could that you would even be able to feel feel okay saying that without taking the steps in the right direction right if you stand in the shower and say I am a profitable Trader I I like I am a profitable Trader I am a
• 19:00 - 19:30 disciplined Trader I am patient within the markets I am patient within the markets these are all things that I used to say to myself in the shower literally at four a.m in the morning [ __ ] water going over my head and I was bro I was just [ __ ] eyes closed saying that [ __ ] because I believed it and I wanted that so so bad there's no chance that you can say that with conviction every single day and not become it
• 19:30 - 20:00 especially especially when you have when you have literally a structured path to get there especially when you have that make sure you read and vocalize your goals every single day okay what I what I used to do and what I I plan on doing you guys can even do this too is I started with my goals at the back of the notebook I wrote out my three long-term goals I wrote out my short-term goals to get to those goals and then so I have
• 20:00 - 20:30 like [ __ ] boogers but and then on the back right so it was like the first the first page on the back and then what did I do every single morning I would flip the page and write it down again write down all my three long-term goals all 10 short-term goals to get there and then right so now I'm I'm reading it I'm writing it and I'm [ __ ] vocalizing it I made sure there was no [ __ ] chance in hell that this [ __ ] was not going to happen because I wasn't I wasn't going to let it I was not going to let this just
• 20:30 - 21:00 [ __ ] fizzle up into nothing that's where people go wrong with goal setting they just say I want I want I want I want I want and not I am I will if you say I will do this odds are you probably will right I will right right imagine reading your short-term goals I will be a disciplined Trader I am a disciplined Trader what are you going to do when Market opens after reading that [ __ ] five times over after
• 21:00 - 21:30 reading your 10 short-term goals five times over right it's going to be really really difficult for you to over leverage for you to over trade some of you guys might fold but all I'm gonna say is once I started doing this stuff my I got locked in I stopped folding to all those other emotions those other opinions those other [ __ ] pressures coming at me right because I knew what I wanted and I knew what I was going to do because I had that I had that path set
• 21:30 - 22:00 for me and all I was just looking straight ahead I was I had those [ __ ] blinkers that the the [ __ ] horses have right I had those things I was like right locked in okay then that's what I want you guys to be locked in on your goals okay so with that being said you guys got some work to do this is your homework this was literally just a homework assignment in itself you guys gotta you guys got a couple things for homework you guys got to go get a notebook you guys got to
• 22:00 - 22:30 write down all three of your long-term end goals in that notebook okay you gotta write down all 10 of your short-term and short-term goals to get to those end goals in your notebook you got to make sure that you actually complete them every single day so this is part of your home this is going to be homework every single [ __ ] day okay and then you're going to read and vocalize your goals every single day and if you're embarrassed about your parents hearing that I don't think this is this is for you if
• 22:30 - 23:00 you're embarrassed at hearing anybody hearing your end goals this is not for you because why what makes you think that you'll be able to get to that if you're embarrassed about even saying it in the first place if you're embarrassed at saying I am a profitable Trader or I will be a profitable Trader if you're embarrassed about saying that with other people to hear you're not cut out for this son you're not you're really not okay what makes you think that you that
• 23:00 - 23:30 that you'll be able to do this if you're embarrassed about saying it sounds like you do not want it enough Okay so you got your work cut out for you for today okay hopefully you guys watch this video oh [ __ ] I guess it's not Memorial Day for you guys you guys are gonna be watching this tomorrow oh well you still have time to go to the store go into the store to get a [ __ ] notebook and a paper you guys probably already have an empty notebook because I know half of y'all aren't doing your school [ __ ] okay you're doing this okay so take one of those notebooks away from school turning it turn it into a trading
• 23:30 - 24:00 notebook okay turn it into a trading journal all right and we'll and we'll get started okay and that's and that's another thing keep this keep this for your trading journal because that's another thing that we're going to be talking about as this boot camp gets going all right so with that being said you guys got some homework to do I'll see you guys tomorrow peace out