False motivation holds back your progress in trading

False motivation holds back your progress in trading

Do you know what many people are very good at? They are good at idle talks! They often speak about their plans and about some business they want to do. And, what is interesting, they could be very convincing when they do it.

Do you know what many people are not so good at? They are not so good at real actions and taking measures for implementing their plans and aspirations into life. And we speak here about hundreds of hours of hard work for achieving their goals. Quite often, many people do not see any difference between a strong wish to be successful and real motivation to do something real. Absence of real actions is usually compensated by idle talks.

Many people want to become successful but they do not always realize that they need to pass a thorny way for achieving some serious goal. The worst thing is that we live in the times of widely advertised immediate satisfaction of desires. The desire to become successful HERE AND NOW is the principle, which guides the majority of modern common people.

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“Do you want to attract the opposite gender? Use our exclusive pheromone oil!”

You can see such advertising everywhere. This type of marketing is quite widespread on the Internet. But remember, if you want to become a successful trader in no time, you will be disappointed very soon … and, perhaps, you will fall to pieces in the end never approaching the cherished goal.

In this article:

  • Are you really a motivated trader?
  • How do you set priorities?
  • Believe in your abilities.
  • How determined are you?
  • Are you ready to perform monotonous and boring work?
  • Be fearless and determined as … a honey badger!

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Are you really a motivated trader?

The desire to have something is, of course, directly connected with motivation required for your success. But it is important to reach a certain critical point before the desire becomes that cast-iron motivation, which would push you to act.

The desire itself could arise from different sources, besides these sources are different for every person. Some people need financial freedom. Some people need to achieve success in trading because it is yet another challenge for them and a possibility to increase their self-esteem. Some people treat profitable trading as a possibility to spend more time with their families. Some people have a more humble goal – a small additional income. None of these goals is better or worse than others, since different people have different needs and values. However, the obstacles on our way to achieving success in trading are mostly the same.

Motivation is a complex of internal and external driving forces, which stimulate a person to act in a certain manner.

How do you set priorities?

If you have a really strong desire to achieve success in such a complex business as trading, then you need to set the highest priority to it.

Your working duties, family life and everyday life are present in the lives of all of us, that is why it is extremely important to analyze how these factors could influence your efforts in trading. You need to constantly work hard to soften their impact. Draw a line between trading and the rest of things. Nothing should interfere with your trading and exert distracting or destructive influence on it.

The priority level is directly proportional to your belief and value, which you attach to your activity.

Believe in your abilities!

Your belief in the ability to achieve success is an extremely important factor of supporting motivation. If you feel that your efforts do not bring the desired result, what can make you repeat your efforts again and again?

You should have a rock-solid persuasion that YOU, with all your positive and negative qualities, are able to achieve any goal.

There is no sense to start any business if you initially doubt your ability to achieve success in it.

How determined are you?

Determination is stability, which you experience when you face a failure. This is an ability to accept losses, quickly recover from them and go to the next task.

The ability to accept losses requires a much bigger self-possession than many other tasks in your life. You will learn a lot about yourself while trading in the market and it could positively influence the development of your personality.

It is easy to ‘lose the beat’ when you learn all the time, face failures and pass through various emotional falls and rises and do not quite understand the result you get as a consequence of the applied efforts. That is why only determination and devotion will bring you a long-expected victory and success.

Are you ready to perform monotonous and boring work?

We speak here, first of all, about everyday preparation for trading, keeping your trading log and analysing the executed trades – all those things which might seem boring and tiresome for many.

Of course, there could be people that disagree with this statement since any boring process could be made more entertaining.

Nevertheless, there always be tasks, performance of which will be exhausting and uninteresting. One way or another, a really motivated person will be able to overcome it regardless of the discomfort, which he experiences while doing it.

“I hated every minute of training, but I said, ‘Don’t quit. Suffer now and live the rest of your life as a champion’” (Muhammad Ali).

Be fearless and determined as … a honey badger!

Such a completion of our today’s article about motivation in trading might seem a bit strange but this wonderful small animal can teach us a lot. Several years ago, one famous TV channel, which is devoted to the wild nature, showed a documentary about honey badgers, animals, which many people hadn’t even heard about. Their name originates from their passion for honey.

These animals are smart, grasping and so fearless that they go into fight with lions! They search for food all day long. They stand up to difficulties with courage and energy when they face them. Honey badgers always try to find an alternative solution when they do not get what they want! That is why these restless fidgets find a way out of practically any situation.

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