Preventing Decision Fatigue and Creating Achievable Goals with Trader Anmol Singh

Doug interviews Anmol Singh, trader and investor and author of Prepping for Success. Singh talks about goal setting including breaking down big goals into actionable steps and maintaining integrity with yourself. From visualising success on his university vision board to now living that reality in New York City, Singh reveals how proper goal setting transformed his life. He also shares how to eliminate decision fatigue, outsource tasks and how to find the balance between wealth and health.

KEY TAKEAWAYS

• Set clear goals and break them down into smaller, achievable steps rather than overwhelming yourself with one massive goal. Singh visualised his New York life on a vision board in university, then broke down exactly what he needed to do to get there.
• Professional traders decide when to exit a trade before they enter it, establishing both target prices and stop loss levels to remove emotion from decision making and limit potential losses.
• Integrity is the foundation of success, do what you said you're going to do when you said you're going to do it. The gap between stated intentions and actual actions represents a lack of integrity that prevents goal achievement.
• Schedule your goals and tasks in a calendar to ensure they get done. Things that aren't scheduled will be replaced by other activities, while scheduled tasks have dedicated time for completion.
• Eliminate decision fatigue by outsourcing or systematising low value tasks like choosing what to wear, meal planning and household chores, preserving mental energy for important decisions.
• True success isn't just financial wealth but balance across health, wealth, love, and happiness. Many people focus exclusively on financial success while neglecting other crucial areas of life.
• Combat the learning loop trap where people continuously consume information without applying it. Knowledge without application is just information hoarding, applied knowledge is what creates results.
• Trading isn't as glamorous as portrayed in movies. It's mostly about analysing charts, numbers, and spreadsheets. The realistic goal isn't becoming a billionaire hedge fund manager but developing consistent profitable strategies.

BEST MOMENTS

"When you lose exactly what you plan for, there's no uncertainty, there's no fear. 'Cause you already accepted that risk before you got into it."

" I had the whole phase of buying a Ferrari and all of that and putting up pictures, and then you realise after you get a little bit older, what's the point of all of that?"

"Think about how much your life, our lives, all of our lives would be different if we did every single thing we said we're gonna do and we did it when we said we're gonna do it."

"I'd rather you read one book 10 times and apply it into your life than say you've read a hundred different books."

 

 

ABOUT THE GUEST

Website: www.Anmol.net

https://www.linkedin.com/in/anmolsc/

@DeltaNinety

https://www.facebook.com/anmolsc

https://go.anmol.net/

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