What motivates you as a trader? - page 6.

Altcoiner007

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

Hey mates, happy weekend! I think we should have a discussion about what motivates traders.

Is it the thrill of seeing your setup come to fruition, the money and flexibility that successful trades offer, or perhaps the partnerships and extra rewarding events that successful traders get to participate in?

What's your motivation?

Obviously, different people have different trading goals and motivation for engaging trading especially Crypto trading. One Key thing is making profit. That's a common reason why anyone goes into trading. And good enough many trading platforms offer incentives to attract users and traders. Take Bitget for instance they recently announced opportunity for traders to win - SOL, BGB, BWB, DOGS etc. in their daily trade and win event. Binance employs a similar approach and other trading sites. There's a lot I learn when it has to do with trading. How to manage my emotions is one recurring lesson.

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

-snip-
What's your motivation?

My motivation to trade is money and nothing else, but I do not let this enter into my head to avoid making me misbehave.

Fine, the goal is to make money but the expertise must be topnotch as well, or else, the goal will never be realised. It took me more than a decade of struggling in trading before I became a better trader and I am using this medium to advise new traders and the struggling ones to continue training and have a neutral mind about it. It is the money we are all aiming at but the adequate experience matters.

We should have a foolproof trading system and plan, and that system must entail the needed money and risk management that will keep our trading account protected. The psychology of trading equally goes a long way, our emotions must be put in check and we should never aim too big or want our goals realised too quickly to avoid it backfiring on our heads.

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Quote from: Viscore on September 02, 2024, 11:03:04 AM

Quote from: Oshosondy on September 02, 2024, 03:20:34 AM

Quote from: Asiska02 on August 31, 2024, 11:17:47 AM

Different traders will have what makes them happy and motivates them differently.

All traders have just one thing that motivates them to continue to trade with happy mind. That is making profit from trading. I have been a trader for over four years now and I know that is the truth. If traders are losing, they are not happy with the situation. But if they are making money, they are happy with the situation. But it has a problem which is more encouragement to trade which can also still have bad effect on the trader's health. So it is good to trade wisely and have time for yourself and health.

I do agree that there's no other motivation than purely profits at all. If there's no profits in return, all these traders will definitely won't risk so much in trading even compromising their time and body health just to secure impressive profits in the end. Without profits, we won't see traders staying traders for the longest time.

It makes sense, seeking profit is the reason or motivation for a trader to spend a lot of time learning related things so they can achieve what they want. If we look at it broadly, it is not only the mind that is at stake but also the physical and mental health in trading is at stake for traders in running and studying the market situation, this is the same as other jobs where seeking profit is the main goal, I think there is no difference in that for all traders because it is impossible for us to do something if not to seek profit.

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

I think we should have a discussion about what motivates traders.

I don't think so. It may be a secret one. Grin

Everyone may have their own motivation, but the common thing should be about money.

Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

What's your motivation?

Money. I don't see any other things that should be the main motivation.
I'm so sure that each person who decides to be a trader, it is because of money purpose. Even becomes a trader isn't the main profession, the motivation should get an additional income (money). However, being a trader is a part of supporting crypto industry. Perhaps another motivation would be to show everyone that being a crypto trader is something profitable and fun. So, there will be more people interested in joining crypto.

aylabadia05

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Quote from: Iamcrypticguy on September 02, 2024, 02:36:52 AM

Quote from: nara1892 on September 01, 2024, 06:27:15 PM

I agree with your last paragraph. It can definitely be used to test patience levels, discipline, consistency etc..

Despite all that, the main motive never changes and that is to make money and change fate. Traders who used to have nothing but now have everything, it is because they have succeeded in developing during their trading activities. They clearly learn, try to be consistent and build a strong mentality, all of which have changed themselves from being without to being financially well off.

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Quote from: Gladitorcomeback on September 02, 2024, 12:23:49 PM

[...]
So profits are the main motivator in this case, in my opinion.

This might be true if you see trading as a form of income.
In fact, the vast majority of all traders out there (and of course us, too) lose money while trading, at least in the long term. Even professional traders like Tone Vays or Brian Beamish (The Rational Investor) fail in almost 50% of their trades, but they manage land 1-2% more successful than failed trades ... those are the trades where they make money.

So the majority of us should see trading as it is ... something that makes (a lot of) fun but costs you money ... like playing in the casino for example.

Silberman

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

Hey mates, happy weekend! I think we should have a discussion about what motivates traders.

Is it the thrill of seeing your setup come to fruition, the money and flexibility that successful trades offer, or perhaps the partnerships and extra rewarding events that successful traders get to participate in?

What's your motivation?

Nothing else but the idea of making money should motivate a trader, now this may seem to be incredibly limiting to traders, but the fact is that if you begin to take pride and joy out of your setup playing out exactly as predicted instead of the money generated by it, then you will begin to look to repeat this event at the expense of the money you make, so while it may seem there is only a subtle difference between the two, at the end of the day the results you can get may differ greatly if you have the wrong motivation.

Gladitorcomeback

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Quote from: Oshosondy on September 02, 2024, 03:20:34 AM

All traders have just one thing that motivates them to continue to trade with happy mind. That is making profit from trading. I have been a trader for over four years now and I know that is the truth. If traders are losing, they are not happy with the situation. But if they are making money, they are happy with the situation. But it has a problem which is more encouragement to trade which can also still have bad effect on the trader's health. So it is good to trade wisely and have time for yourself and health.

I can't help but agree with you on that. Most of the things human beings do are those that benefit them directly or indirectly, and when it comes to finances, you should know that when you are spending money on something, there is only one thing that can encourage you to work harder on it and that is the returns you are getting from it. If you are spending both money and time and getting nothing in return, that will be a cause of discouragement for you and you will soon stop doing that thing.

So in trading, what motivates traders to work harder and try to improve everything again and again is the fact that they are getting returns from it, or they can see potential in it. They know that if they work hard on this thing, it is going to change something for them in the future if it's not doing it right now.

So profits are the main motivator in this case, in my opinion.

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Quote from: Oshosondy on September 02, 2024, 03:20:34 AM

Quote from: Asiska02 on August 31, 2024, 11:17:47 AM

Different traders will have what makes them happy and motivates them differently.

All traders have just one thing that motivates them to continue to trade with happy mind. That is making profit from trading. I have been a trader for over four years now and I know that is the truth. If traders are losing, they are not happy with the situation. But if they are making money, they are happy with the situation. But it has a problem which is more encouragement to trade which can also still have bad effect on the trader's health. So it is good to trade wisely and have time for yourself and health.

I do agree that there's no other motivation than purely profits at all. If there's no profits in return, all these traders will definitely won't risk so much in trading even compromising their time and body health just to secure impressive profits in the end. Without profits, we won't see traders staying traders for the longest time.

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Quote from: Oshosondy on September 02, 2024, 03:20:34 AM

Quote from: Asiska02 on August 31, 2024, 11:17:47 AM

Different traders will have what makes them happy and motivates them differently.

All traders have just one thing that motivates them to continue to trade with happy mind. That is making profit from trading. I have been a trader for over four years now and I know that is the truth. If traders are losing, they are not happy with the situation. But if they are making money, they are happy with the situation. But it has a problem which is more encouragement to trade which can also still have bad effect on the trader's health. So it is good to trade wisely and have time for yourself and health.

Yes that's right and I think everyone will say the same thing as you regarding their motivation in the world of trading, none other than of course only one thing that motivates all traders, namely the hope of getting much greater profits, and that's why they are willing to dedicate their minds, energy and time to learn various things related to the world of trading where the goal is to increase the chances of profit.

And that is also one of the actions they take to minimize the possibility of losses that are too significant, and regarding the impact, yes maybe I will agree with your opinion that trading can also have an impact on a person's health, and that's why time management is a mandatory plan for a trader.

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

Hey mates, happy weekend! I think we should have a discussion about what motivates traders.

Is it the thrill of seeing your setup come to fruition, the money and flexibility that successful trades offer, or perhaps the partnerships and extra rewarding events that successful traders get to participate in?

What's your motivation?

the motivation to trade is to make a profit. if you profit in trading and it can be consistent then you will continue to have the motivation to trade. but if on the contrary what you get is a loss, then along with the many losses you experience, maybe you will lose the motivation to trade.

I used to be very enthusiastic when trading. having my mentor friend is very enjoyable for trading. but over time I lost more often in the short-term trades I did. so I switched for a longer time to some altcoins. it worked out profitable but I don't have much time right now to trade. so I chose to collect more Bitcoin in my wallet. it's calmer for me compared to daily or short-term trading.

Oshosondy

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Quote from: Asiska02 on August 31, 2024, 11:17:47 AM

Different traders will have what makes them happy and motivates them differently.

All traders have just one thing that motivates them to continue to trade with happy mind. That is making profit from trading. I have been a trader for over four years now and I know that is the truth. If traders are losing, they are not happy with the situation. But if they are making money, they are happy with the situation. But it has a problem which is more encouragement to trade which can also still have bad effect on the trader's health. So it is good to trade wisely and have time for yourself and health.

Iamcrypticguy

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Quote from: nara1892 on September 01, 2024, 06:27:15 PM

I think it is clear that in general money is the biggest motivation for traders, because after all that is the main purpose of why we are involved in the profession. If there is no money in it which is a primary means of exchange that is always important in life then I think it is unlikely for someone to be willing to spend a lot of time even up to years to improve their skills and knowledge, and all that is done because we want to get more money and also want to have more ways to minimize the possibility of losses that are too significant. Another thing that I can see from trading is that this is a profession that can be used as a place to test discipline, consistency in learning, patience, financial management and building a strong mentality.

I agree with your last paragraph. It can definitely be used to test patience levels, discipline, consistency etc..

Iamcrypticguy

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Quote from: Davidvictorson on August 31, 2024, 03:44:48 PM

Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

Hey mates, happy weekend! I think we should have a discussion about what motivates traders.

What's your motivation?

Outwardly? Money
Inwardly? Personal satisfaction

Those are the major ones. i want to make the money first, then be able to help others in my circle too make the money as well. The sense of personal satisfaction comes from it . These are my motivating focus that I think of each day waking up as a trader.

What about the feeling of seeing your setup come to fruition? Knowledge? Experience?.

Dr.Osh

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Well, the only thing that drives me to trade is because it is still profitable and can provide great benefits. Although trading has high risks, if we do not cross the line, and always pay attention to important things, then I think it will reduce the risk. In addition, some people also make profits in a short time. This encourages other people's enthusiasm to be greater to trade.

Wildwest

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

Hey mates, happy weekend! I think we should have a discussion about what motivates traders.

Is it the thrill of seeing your setup come to fruition, the money and flexibility that successful trades offer, or perhaps the partnerships and extra rewarding events that successful traders get to participate in?

What's your motivation?

It is clear that the main motivation of traders is money, wherever and whatever the final goal is to pursue success from things done in various ways.
The motivation given by traders is very pleasant with their success in getting profits gradually from small to large, I think being a trader who is always profitable is very cool and it's not all easy like the motivation that exists because every success must be accompanied by hard work inside.

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

Hey mates, happy weekend! I think we should have a discussion about what motivates traders.

Is it the thrill of seeing your setup come to fruition, the money and flexibility that successful trades offer, or perhaps the partnerships and extra rewarding events that successful traders get to participate in?

What's your motivation?

Not only about the money involved, but also trading is one of the best business or skill one can ever have that is guaranteed of your freedom, the moment you get it right. it a business you can do from the comfort of home in any part of the world seamlessly, so far there's an internet connection available with you. As a trader, you have the opportunity to participate in the largest money market in the world, were you have opportunity to earn money where the big banks and hedge funds and other financial institutions earn money.

nara1892

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I think it is clear that in general money is the biggest motivation for traders, because after all that is the main purpose of why we are involved in the profession. If there is no money in it which is a primary means of exchange that is always important in life then I think it is unlikely for someone to be willing to spend a lot of time even up to years to improve their skills and knowledge, and all that is done because we want to get more money and also want to have more ways to minimize the possibility of losses that are too significant. Another thing that I can see from trading is that this is a profession that can be used as a place to test discipline, consistency in learning, patience, financial management and building a strong mentality.

CoinFoxs

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I have seen people have different opinions on this question which is frequently asked by a crypto trader, the only thing which motivates me to do trading is profit as i have been earning from crypto trading since very long so this is the only reason which motivates me when market start growing and i start earning from my investments i will give more time to trading to get more profit.

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Quote from: Iamcrypticguy on August 31, 2024, 09:39:21 AM

Hey mates, happy weekend! I think we should have a discussion about what motivates traders.

Is it the thrill of seeing your setup come to fruition, the money and flexibility that successful trades offer, or perhaps the partnerships and extra rewarding events that successful traders get to participate in?

What's your motivation?

Most likely, we all want to see our trades come into fruition, hence getting some good returns out from the funds we used in trading. And when we are getting good trades, then the more that we need to trade more to double or triple our money out from a small capital.

Money is the ultimate goal in trading. Although losing is inevitable, and it's okay to lose, but we should always outnumber our losses in trading and make more visible gains than losses.

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