All change starts with being honest

The Power of Long-Term Vision: Overestimating a Year, Underestimating a Decade

Many people tend to overestimate what they can achieve in a single year and underestimate the potential of what they can accomplish over a decade. This principle underscores the importance of setting realistic short-term goals while maintaining an ambitious long-term vision.

The Principle Explained

In the short term, individuals often set highly ambitious goals, expecting significant changes within a year. This can lead to disappointment if the lofty goals are not met. However, what people fail to realize is that substantial, meaningful growth typically requires a longer timeframe.

Over the span of ten years, there's enough time to make consistent, incremental improvements, which can lead to extraordinary results. Compounding efforts over a long duration can bring about achievements that seem unimaginable compared to the short burst of effort within a single year.

Example 1: Career Growth

Year 1: A junior employee aims to secure a senior management role within the year. They may end up feeling frustrated if promotions and significant salary increases don't happen immediately.

Year 10: The same employee sets a plan to gradually enhance their skills, network strategically, and take on increasingly challenging projects. Over the decade, they could rise to a leadership position, possibly managing a department or division, achieving far more than initially expected.

Example 2: Personal Fitness

Year 1: An individual sets a goal to lose 50 pounds in 12 months. Without proper pacing and sustainable habits, they might struggle, yo-yo in weight, or give up entirely.

Year 10: The same person starts incorporating regular exercise and balanced nutrition into their daily routine. Over a decade, these small, consistent lifestyle changes significantly improve their health, allowing them to maintain a healthy weight, build muscle, and cultivate enduring wellness habits.

Example 3: Building a Business

Year 1: An entrepreneur expects to scale their startup to a multi-million dollar business within the first year. The pressure to achieve rapid growth could lead to burnout or making hasty, unsustainable decisions.

Year 10: With a focus on steady growth, learning from small successes and failures, and adapting strategies over the years, the business gradually expands. By the tenth year, it might not only achieve the multi-million dollar mark but also build a reputation, loyal customer base, and a solid, resilient business model.

There is a reason why I didn't use examples that reflect a trading career.

From my personal viewpoint, it's rare for traders to have a clear picture of their total losses. Many may not even be aware of the exact amount they've lost since they started trading.

Most traders, even after years, do not maintain detailed Excel sheets about even the most basic trade data. They often lack journals, chart-picture journals, or psychological self-reflection notes.

The majority of Market participants apply the definition of insanity, which is doing the same thing over and over again and expecting different results.

The line gets blurry if a trader is a trader or just another gambler.

Imagine the pain if, in ten years, your trading results are the same as they are right now.

That's a realistic risk if you do not make massive efforts to change and develop with a realistic goal and a committed pursuit.

Are you really honest with yourself?