GOOD MORNING STEEMIT,
We all need a reason to do what we do. A reason to get up in the morning and give our everything to the path that we’ve chosen.
Some lifestyles and professions are easier to motivate yourself to invest your time and effort into. Things for example, that you know have a real material impact on people’s lives or the community that you live in. Things that let you see instant, tangible social change, right in front of your eyes.
But trading is different. Trading doesn’t offer any sort of positive to change to anyone or anything... other than your own bank balance. And you know that as trading is a zero sum game, when you’re making money, someone else is losing it.
Now especially as an outsider, you might find it ridiculous that money can be a negative when it comes to motivation. But finding motivation and purpose purely in personal financial gain truly is a double edged sword.
What Motivates a Trader
There are two main motivations for a trader. These being chasing a rush and getting paid. The thing here is that while you might be motivated by both, you can’t ever be successful at achieving both.
Think about it. If you want to feel the excitement of winning, then you’re going to end up pushing the boundaries of risk and you’re going to lose money. It’s not a question of if, but a question of when.
On the other hand, if you want to make money, then you are going to have to trade with a clear plan, within a clear risk management profile. Risk is clearly defined and every decision scenario has been pre-planned. There is no rush here.
If you want to feel a rush, go to the casino and put all your money on red until you lose. Losing will always be the outcome, but at least this way you won’t have wasted much of your precious time.
You’re trading to make money consistently over the long term. There is no room for a rush.
Nobody to Blame but Yourself
In this type of game where you’re your own boss and have nobody looking over your shoulder telling you what to, you need to be motivated to succeed on your own. You just can’t do it without personal motivation.
While not having anybody over your shoulder telling you what to do is a huge drawcard for people stuck in the 9 to 5 rat race, it takes massive personal discipline to be able to consistently do the little things you need to succeed without external pressure.
Another aspect that is often overlooked when it comes to finding motivation in trading is the fact that you are in charge of your own destiny via the decisions that you make. There is no safety net of a manager or company money being lost. There is truly nobody else to blame but yourself when things don’t go as planned.
It might sound good on the surface, but human beings don’t like being told they’re wrong and if you don’t instantly accept that you’re wrong when trading, you will be ignoring your risk management plan and end up losing big. You just can’t do it.
Are you a trader or budding trader who is struggling with finding your own motivation balance? Leave a comment and lets talk it out.
Best of probabilities to you.
Peace ✌🏻.
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