If you want to be successful at something, define beforehand what and how exactly you will do that and then set aside everything else that does not fit in your plan. I have learned that lesson from Jim Collin’s book “From Good to Great”. It is a great read and I would recommend you buying it. Pay close attention to all those lessons that are included in the book. Even if they were written with companies in mind, the lessons will apply to everyone in almost any aspect of their lives. That includes trading in the stock market.

Set your plan and forget the rest

When trading and investing in the stock market, you should define beforehand what exactly your strategy will be before you even open your account with your favorite broker. After you have decided upon it, forget and put it aside everything that does not fit into your plan. This might look easy to do it, but as you start you will soon realize that you will be bombarded every single day with different options and opportunities so you too, “can make a killing!”

Stick to your plan

If you have decided that you want a 3% yearly return to reach your financial goals, then great! Stick with that and forget everything else. Every day you will be hearing or seeing someone showing how they managed to pull off a 130% return on a single stock on a single day! That does sound great and you might start wondering how small is your goals comparing to that guy. Do not do that! If you have a plan that with 3% a.a. return you will reach your goals, then this is all you need.

Decide and make a good plan that you know that by the end of it, you will be fully satisfied. That way, you will not get distracted with all those “wonderful” schemes that everyone promises it will make you rich in a week! They won’t and if you keep paying attention to them, even if you do not follow them it will hinder your progress with your own plan. So, forget all that is going around you and focus on getting things done according to your plan.