What is Your Motivation to Be a Forex Trader?
Helo Forex Traders you want to become a successful trader? If you have decided to become a professional forex Trader then it is necessary to motivate yourself. No need to worry about forex trading. It is simple as other business but having some strict rules to become successful. Forex traders who aren’t serious or committed to the ability will be quickly eliminated by the market. If you want a quick profit and become one night rich person then this is not right place for you. So go to any casino and bet the different games.
Before choosing forex trading as career you should ask some questions to yourself.
Am I wanted to become rich?
I am doing forex trading because I need thrills and challenging works?
What goals you have in your life to accomplish?
You have a girl friend and want to impress here due to earning from currency trading? (huhhh!)
How to be a winner?
The answer is very simple.
You should do forex trading with patience and keen interests. You should learn first before earn. If you do this you will lose your whole capital.
Don’t take fast decisions in taking trades.
Set trading goals that will help you develop as a trader.
Be specific with your Trading career.
Make your goal 1 to two percent per week of your capital and 50% at the end of the year.
You should read following Forex Trading motivational Quotes from top traders to get motivation.
“Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.”
2. Paul Tudor Jones
“That cotton trade was almost the deal breaker for me. It was at that point that I said, ‘Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?’”
“Money is made by sitting, not trading.”
“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.”
“When I became a winner, I said, ‘I figured it out, but if I’m wrong, I’m getting the hell out, because I want to save my money and go on to the next trade.’”
“I always define my risk, and I don’t have to worry about it.”
Daily Motivation for Discouraged Forex Traders
Daily motivation is one of the more useful ways to encourage depressed forex traders. With nervous emotions involved in the forex trade market, even the most constant trader can benefit from daily motivation. As long as you allow positive change to happen, any dampened feelings can slowly change into inspiration.
Feeling disheartened is a common response when experiencing regular losses from trades. For a forex trader, discouragement has an effect on self-confidence in capabilities and intended strategy. The best thing to do is to stay motivated, reconsider your moves, trading and focus on your trading goals. By practicing daily motivation, you can continue to trade with positivity and keenness in spite of any challenges.
Top 3 ways to increase Forex trading motivation
As a forex trader you should increase your trading motivation daily. It will improve your trading style and confidence in forex market. Top 3 forex trading motivation ways are given below:
#1 following the footsteps of a successful trader
If you want to become successful trader you should choose a successful professional trader as your mentor and follow his/her guidelines. You should aware that how to execute profitable trades by your mentors. Learning your mentor’s habits and following his productive routine can help you achieve your goals faster.
#2 making consistent profits can keep you up
Making consistent profit in forex trading can keep you up and motivates you to inspire other beginners. Always try to make consistent profit. It is not necessary that the profit should higher it can be little. But remember you should try to making consistent profits, because if you lose trades constantly then you will not be able to motivate yourself. So making profits will help you to be confident and take up good trades with smaller margins.
#3 Learn from your losses and try to curb them
Always try to learn from your mistakes and your losses. Make your trading journal before entering the trade. If your trade hit the stop loss, after that you should try to find the reason why your stop loss hitted. If you write these things in you trading journal you will be able to find the solution of these mistakes later and you will control them.
In the end ask these question again yourself!
- How badly do you want to be a Successful Forex Trader?
- How do you get Motivation in Forex?
Try to find the answer of these questions and the answer of said question will keep you motivated in forex trading.
Forex Trading Motivational Video in Urdu Hindi