Building Your Financial Portfolio

1. Set realistic financial goals for your portfolio (Remember your goal can be too little or too large). If your goal doesn’t make you feel challenged or if it makes you feel overwhelmed then it is very likely that it needs to be changed. Therefore, setting realistic goals are instrumental in ensuring that you can plan where you are going, effectively; goals also help to keep you focussed and as a result you are more likely to make worthwhile decisions about potential trades. An easy principle to remember is simply; the more accurate and profitable trades you complete, the closer you get to reach your financial dream;

2. Review your financial goals against your trading results. It is advisable for you to review your overall goal against your progress. Put time aside periodically so you can ‘review the overall picture’ and make changes where necessary. For example, if you have almost reached your financial goal, then you can increase the amount you wish to achieve. Similarly if you are losing trades and your profit is decreasing, having an exit plan and sticking to it is just as important as having a profit plan;

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3. Get independent advice and opinions. If you are using an online broker, then you should be able to get independent advice, on a no cost basis. 
Additionally, ‘picking the brains’ of any friends who work in the financial sector can be of benefit at this time and specialist blogs and forums serve as a source of free and sometimes unrivaled information and insight to the latest trends and commentary from other worldwide traders, giving you a global perspective before you make any final decisions. Knowledge is Power; this power provides you with opportunities to become a better trader and increase your profits; and