How Do You Motivate Yourself As A Forex Trader

[moonchild]

As a forex trader after you close a day in loss, it is very tasking to come back to the charts tomorrow, it is very daunting and mentally tasking, because no body in this world like losing, but in Forex you're forced to accept a loss as a normal occurrence and you being told from your early days that failure is so much guaranteed more than even emphasis on wins.

These are low points honestly, these are the times you need to remember why you even start in the first place and also why you need to keep at it and make sure you don't deviate.

Personally, I had thoughts of quitting and most of the times I go on break for months without even glancing at the charts talk less of trading.

I listen to a lot of podcast about willingness and also discipline they honestly set the tone for me to stay focused and also on target.

If your goal is financial independence then you should think about all the things you would be able to do when your life if set and all of the fun places you will fly to when you you reach your goal.

You're the only one that can motivate yourself.

 

[General01]

Motivation is an essential part of life that fuels and ignites out ambitions thereby refining them into success.

It is what keeps us moving even amidst the unending negating challenges of life and it plays a critical role in ensuring that we never give up.

The truth is, at a point in time we sometimes don't feel like putting in the necessary efforts that brings out the results we need, we feel like achieving the dream amounts is not feasible and the thoughts of giving up grows so big that we begin to loose interest on the things that matters. At that point it is motivation that fires us up and make us remember that the dream we had is attainable.

Personally, what motivates me is the end result. I used to imagine making huge profits and the joy, freedom and thrill that comes along with it. It brings me back to my feet to keep pressing on.

The picture of the future I want for myself is my greatest source of motivation

 

[Heiden Lang]

To motivate myself in this highly volatile forex market, I maintain a trading journal to keep a check on my progress. Also, I believe in celebrating even my small wins to be grateful and motivated.

 

[Wordsmith]

Money is definitely the biggest motivating factor for me. Had I not been making great profits, I would have never done it. I agree the beginning was a little tough. But as I gained experience, it has gotten easier for me.

 

[Setho]

It is true that as a forex trader there are some periods in time where by you are going to be losing a lot of threats and you will think like you should give up. It usually happens to me and that is not a good experience at all . I have been able to come up with a few things that I usually do in order to get my motivation back .

I always try to remind myself that it is almost impossible to have a 100% win rate whenever it comes to the forex market and as such you might just be encountering a minor alteration in form .

Reading is also something that brings back my confidence because sometimes it is possible that why you are making losses is because the strategy that you are using is not appropriate for that much yet or it has become outdated completely. . If you are going to find time to read then you might be able to find out about better trading strategies and then that is going to boost your confidence knowing fully well that you have understood exactly why you were making losses in the past and how you can change them .

 

[Eduard Hahn]

I keep reading success stories of forex traders. This makes me believe if they can, I can too. I have seen my uncle rise from rags to riches because of forex trading only. I know the market potential. I am just struggling to make a consistent income at the moment.

 

[Tactical]

To become a successful trader, it is important to be in love with the system. When I trade, I trade with the purpose of getting 1% better each time. Of course, there are highs and lows. But I give myself enough time to introspect my trades and improve errors.

 

[Mary Frederick]

It’s obligatory for a trader to retain his motivation and I never remember of my losses because it demotivates me. I keep myself away from trading when the market condition is not good. Eurotrader has made my trading life a bit easier with their smooth trading platform, welcome bonus and other nice facilities.

 

[Jasz]

Making the decision to trade Forex is an exciting one. You'll be your own boss, and you can make money on your own schedule. But that freedom comes at a price. When you don't have people around you to keep you accountable, and when you don't have a superior to report to, it can be easy to let motivation fall by the wayside. Here are some tips for keeping yourself motivated as a trader so that you can continue to do interesting, inspiring work:

Find a community of traders

You might think that it's more important to find a community of people in your niche trading market, but finding a community of fellow traders can actually be just as important—if not more important. Being able to share strategies, successes and failures with others who understand what you're going through is essential for your growth as a trader.

Make sure to give yourself time off

It's easy to fall into the trap of working constantly when you're self-employed, but that doesn't mean it's good for you! Taking time off is essential for recharging your batteries and continuing to be successful. That said, know where your boundaries are: if you're too tired or hungover, it might affect how well you're able to make trades.

 

[Ithedicious]

A lot of people can choose to be motivated by the Profits that can be made with forex trading , but well I only suggest that this type of motivation should only be for those people that have learnt and really understand how to trade because if you really understand it there is no how you won't to be able to make profit even if you close today with a loss.

People that are just going newly into the forex space trying to make money may not really be possible because the volatility is not something that can be predicted by someone without experience.

Newbie should only be motivated by the fact that if they really dedicate their time to learn and understand everything about Forex that the possibility of making something reasonable with forex in the future will be high. When you are motivated this way at least you will be forced to learn and understand everything just to be like other experts.

Personally I am very much interested to learn about cryptocurrency and because of it high volatility I won't be making an attempt to trade it when I don't understand until I learn and understand everything to trade without losing.

 

[Suba]

Many novice forex traders I meet feel confused to determine their trading motivation, because they have thought wrong, They consider forex trading as a shortcut to get rich quick, so they are always stuck in margin calls.

The motivations of traders will certainly be different from each other, there are traders who just want to try because of the influence of friends, there are also traders because of hobbies, there are also traders who just want to earn extra income, there are also true traders who make trading as their main income or trading. for living. Each of these motivations will determine the traders and their future as a forex trader. If you have the motivation to trade for living you can increase your motivation and enthusiasm by reading the stories of successful traders such as Rayner Teo, Dylan Collins, Charlie Burton etc.

 

[George10640]

Everyday is grinding day as a forex trader .So long as the passion and the interest is the interest is there forex trading can be so easy.I am now almost 3 years in the industry and all i can say forex is not for the faint hearted you would rather lose hope before finishing the race.What can motivate you is that new think you learning and be able to come up with solutions to the problems encountered while trading the financial markets.Goals and visions must be the key motivator as you target to improve your trading style.

 

[Feeble]

If you're having trouble staying motivated when trading, it's definitely time to reevaluate your objectives. It can serve as a reminder of why you got into trading in the first place and what you want to get out of it.

 

[Tahir4]

Think of what made you want to become a trader, write it down in a paper and paste it on the wall.

 

[Setho]

Just like any other person who has been trading the financial markets for a very long time now , there are always going to confess that it is something that is very stressful and time-consuming . Time that you are going to be spending in researching as well as drawing lines for your technical analysis is something that can really impact your mental health if you do not know how to control if I will look for ways to find motivation to continue . There are also going to the times in which you are going to experience series of losses that he will want to stop .

The first thing that always keeps me going is the fact that I always go into every trade with the mindset that it is possible that my idea can be able to be invalidated and go south and that is ok . And this particular scenario I am just going to go and then look for how things could have gone differently so that I will learn from it and not make the mistake again .

I want to pick motivation from people who have done it in the trading space before and I also want to replicate them.

 

[Torsade]

I don’t think there is anything more motivating than knowing that there is so much money that you can make through trading. The aspiration to become rich is surely one of the reasons I am into trading. And don’t worry, I won't become greedy. I know how to control my emotions.

 

[glabella]

On your road to success in trading, you will incur loss, and you may not want to continue but to keep yourself motivated, the best thing you can do is learn from your mistakes and spend time reviewing and testing each strategy, learn how to read charts and patterns with technical analysis and map out your goal and put it up on a board in your room or your bedpost. Set a routine, where balancing trading while also taking care of yourself.

 

[Revetment]

I keep reading success stories. I am at that level of my trading career where profits have just started coming in but still, losses are more in number. By reading how successful traders paved their way to success, I try to stay focused and maintain a good amount of trades on a regular basis.

 

[CrozeGrog]

It is common to feel disheartened when you trade because you don’t win every day. But traders shouldn't let failures put them down. So first of all, I accept my losses. People lose all the time. Tell me who doesn’t?

Second, I try to learn from my mistakes and use that to grow better. Though, there are days this doesn’t work. But I trade with the purpose to enjoy trading. So at the end of day, I know I didn’t lose something.

 

[btaliat]

Forex trading needs motivation most time. The intricacies surrounding the trading makes it somehow difficult to scrape through but when there is something to motivate a trader, he may be willing to continue despite the trouble that he may be seen while doing the trade.

Though, I am not a forex trader, but I do motivate myself as a crypto trader with the following strategies. First is that, I do realize that all days are not for the winners. There are some high and ups in every endeavour of human being. So when I am losing, I know it is time I started preparing for my success.

I do read more of success stories. I do learn how to make it and what they are doing to sustain the success. I am no doubt surrounded by many successful forex traders. Most time, I visit them to coach me on some new strategies to use while trading. What I do use while trading are gotten from these set of people who are always there for me.


Success stories are not always enough. There are time I want to know the reason why people fail and to learn new strategies to learn to work against failure.