Topic: What motivates you as a trader? - page 2. (Read 1344 times)

The basic motivator is profits, and I believe it's common for every trader. I can't think of any other thing that can motivate a trader to continue trading. I don't think someone will keep trading if they are constantly losing money because that will demotivate them if you can see something isn't working out for you and you are losing value instead of gaining anything, you will feel you shouldn't keep doing it because there is no point.

When a trader gets their first profit from trading, they feel extremely happy, and those initial profits boost their confidence and motivate them to work harder on their trading activities, they start learning more to improve their knowledge and understanding so that they can continue getting profits.

So undoubtedly, profits are the primary motivation for a trader to continue trading and working hard on their trading.

The motivation is of course to gain profit and want to achieve financial freedom in old age. Because with Trading or investment we can achieve all that by setting certain goals that we want to achieve within a certain period of time.

The sensation of trading is certainly also a factor because with trading or investment we can control our emotions, we must also control our minds and never give up. Just like in a fight or war, we must accept defeat calmly and continue to fight. The sensation we get from trading is learning to never give up, never feel comfortable and we must have self-confidence.

Definitely, all of those, the feeling of success and good trades and accuracy of each trade that we make, that's what the majority of us are motivated for.

I am seeing a lot but those that are real successful won't put themselves into any public appearance or even on social media. Many of these traders were successful people because of trading and their lives were changed. It's just sad that the others have gone south and they have other motivation for doing it, it's still related to trading but guess what, they've became trading gurus overnight and won't trade anymore because enrolment classes fee are the ones that became their bread and butter.

well, besides that, the profit potential of trading is almost unlimited. It could mean that with a capital of $10, it could become $1000, although it takes an indefinite amount of time with the risk of losing $10. Many people still make a profit in trading, and as long as it still provides profit, then people will be motivated. So, I think, the motivation that makes people still trade until now is because trading still provides income, even though there is a risk from it.

Everything you've mentioned has definitely motivated traders to pursue trading despite of the risks and the market volatility it has to offer. And as long as there are people who claimed to have succeeded in trading and are now enjoying the comfort of their lives, then most likely a lot of aspiring traders will continue to risk in trading until success comes into fruition.

To be honest, I wouldn't recommend this practice to newbies because a newbie losing 10% of their invested capital would barely be able to recover that easily because they won't have enough knowledge about the market. Those who are new in the market should only buy and sell coins and tokens that are well-known so that they don't lose any money by having to use stop-loss. If you are new to the market, just buy Bitcoin, Ethereum, or any other famous cryptocurrency and sell it when it goes higher.

Those newbie traders and investors who are always chasing profits and because of that they are trading meme coins or newly launched altcoins, tend to incur more losses because they don't understand the movements of the market very well, so they make entries at the wrong points and when the price starts dropping, they panic sell and lose money.

So the best practice for new traders is to only trade famous cryptocurrencies and keep learning so that they can understand the market better and be able to broaden their trading horizon.

The money from there turns into Bitcoin.
Simple, just to be able to make a little profit that I then convert into Bitcoin as an asset. This is my crypto trading motivation, bro.
The little by little addition of profits from trading crypto coins will make me happy when the amount of Bitcoin can increase from several ways including from crypto trading.

Exactly if after failing you bring that learning experienced to do better, that's the time where you can possibly developed your knowledge and will give you hints when to position yourself, though it's not an assurance but can be use as basis of potential similar outcome that may take place, from that point, your anticiaption will grow and you will start to aim for more knowledge while you are in the process of establishing your own patterns and strategies, all will be concluded after you begin earning your success.

If bad outcomes gives you the will to continue imporving yourself, and instead of living with regrets but moving forward with better outlook for your potential success that's a kind of motivation that will lead you to become more reliable and will possibly bring you to the position that you are aiming for.

I agree that it usually doesn't end well.
Only through experiencing bad situations and climbing out of them learning something new and how to avoid them can a trader become better in what he does.
That's my opinion.

That is unfortunately the problem that many of the trades face, they do know what stop loss is, but they do not use it because they are too confident in their abilities. Not a lot of people use every tool available to make some money, you could use so much to be making sure that you do not lose money but they do not and they are usually the newbies, they do not check every box before they make some judgement call and because of that they end up losing some money to it as well.

I believe that we are going to end up with a loss, and we should be careful with it, I can't say that it is going to go great, we are going to probably face some issues and we should be more careful about it as well. We will definitely get better results if we know what we are doing.

I don't get how some individuals are losing all.their profits that they have made for the day, don't you know what stop loss are, and you should be using it to prevent this from happening. I believe you were still new to trading and didn't think something like that could have happened to you but I hope that you have learnt your lessons and next time when you're trading, you should put a stop loss on every trade as it'll help you in risk management and you wouldn't be losing too much anymore. Your stop loss should be at the price that it shouldn't be more than 10% of your capital and if it gets triggered you won't lose more than 10% of any amount that you have used in your trading order.

When you want to make money from the trading you do, of course you must first have the right ability and knowledge of trading, because it is very unlikely that someone can make money from trading without the right ability and knowledge of trading.
As a trader, of course, you must be able to control their emotions well, because everything can happen in trading and we must be ready for the situation, especially when we are experiencing failures that make it difficult for us to control our emotions, but by practicing often, of course, it will be easier for us to handle these conditions and I agree with you with trading will certainly make us more disciplined and patient,  Because in trading we must always monitor market conditions before making a decision.

Yes, the point is that we or a trader must always be aware of the risks, do not only think about the profit opportunities because it is clear that trading will always be a risky activity, especially when you fall into various impulsive actions due to being carried away by emotions or due to not being able to ignore greed for example.
When you treat trading in that way, I think it's the same as gambling, and as you experienced where you continued the session when you had already made a number of profits, I think one of the reasons is because your level of discipline decreased at that time which was caused by you being too focused on getting a larger amount of profit which encouraged you to make decisions at the wrong time.
Therefore, this is why a trading plan must really be owned and maintained by a trader, along with maintaining discipline in the sense that when you have reached your daily target, stop.

Everyone must have motivation as a trader, and I believe the most important motivation is money. All traders definitely want to make a profit so they can make more money by becoming a trader.

But there is something else that motivates me to continue trading. I am more interested in trading psychology because it has an impact on myself. Trading activities in my opinion are very good for training patience and emotion. This affects me to have the ability to control myself and changes me into a more patient and disciplined person.

I go with that kind of motivation if you keep succeeding in whatever patterns or strategy that you are using, it will lead you to keep pushing your interest and will allow you aim for more, though that's a good factor but without good emotional control it might ruined your chances, you just need to stay with how you design everything that might keep you on track of your potential benefits. That will allow you to prevent or avoid any exceed greediness that may lead you to fall and made a big mistakes.

Yea, anyone that choose to be greedy or take a harsh decision on their trade must be ready with the stomach to accommodate the outcome of their actions. Months ago, I created a thread regarding how I allowed myself to lose the previous profit I made from my trade and the cause of my lose was because I made a bad decision. After making some profits earlier, I should have stopped and repeat back the next day but I didn't stop and that was what resulted to me losing all the profit I made earlier.

I think that's what majority of the traders are the topmost motivation. If you trade and succeeded, you will earn decent profits that will lead you living your life comfortably and with great convenience doing trading even at the expense of your home. As long as you know how to trade with an advantage, meaning you trade with high knowledge and with highly working strategy, you will definitely achieve your ultimate goal in trading, which is to make consistent significant income more than what you made from your day job.

Yes I also understand about that and it is true that there are some difficult parts where practicing is always much harder than saying, and also the problem is yes as you said that sometimes we do not realize that we are implementing greed, and that does happen, I will not say that it is the right action because in the end it always leads someone to regret, but as humans sometimes we are not always aware of what we are actually doing.

But on the other hand I still think that incident should not have happened, or not happened to you too often, because after all as we know that in trading someone must first prepare everything such as planning and risk management for example which one of them is implementing take profit and stop loss, both of these things have an important role to make you stop at the right time, meaning I believe that traders who always find it difficult to ignore their greed are those who do not implement the planning until they are finally carried away by the flow of greed.

And like what I've said it brings regret after, upsetting your own position mostly happens either you overexcite yourself with the market movements that influence greeds inside you, though some traders manage to work well dealing with fluctuations and they really love volatilities and some successful traders has been motivated by success and how they keep working adding knowledge about the market and makes them more profitble along the way.

Nothing is really easy at all. I remember also telling about my condition at the lowest point in my life on this forum. But I forgot on which topic I wrote my reply and wrote about my experience. But what is certain is that the situation at that time really left me without many choices. But I used my capital not only to enter the market, but I even entered study classes and found mentors and I even got into the situation of sharing material insights related to trading with other people to get additional capital. I started with small capital so I didn't worry too much at that time.

Sometimes at our lowest point we can take quite reckless actions. It's just that being brave doesn't mean you have to be careless. We have to start with the right stage. In my first year I experienced quite exciting ups and downs. But in the second year and beyond I started to find stability. when I started to get used to emotional management, money management and risk management. I even began to understand that technical, fundamental and sentimental analysis can sometimes be wrong. Because in the market there are games being played that make the market difficult to predict. But we can understand market habits as we spend more time in the market each day.

Thank you brother for the suggestion. and actually I'm always happy when someone gives me advice.